IRIS Accounts Production v23.3.0.418 06837228 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure068372282022-03-31068372282023-03-31068372282022-04-012023-03-31068372282021-03-31068372282021-04-012022-03-31068372282022-03-3106837228ns16:EnglandWales2022-04-012023-03-3106837228ns15:PoundSterling2022-04-012023-03-3106837228ns11:Director12022-04-012023-03-3106837228ns11:Director22022-04-012023-03-3106837228ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3106837228ns11:SmallEntities2022-04-012023-03-3106837228ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3106837228ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106837228ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106837228ns11:FullAccounts2022-04-012023-03-310683722812022-04-012023-03-3106837228ns11:RegisteredOffice2022-04-012023-03-3106837228ns6:CurrentFinancialInstruments2023-03-3106837228ns6:CurrentFinancialInstruments2022-03-3106837228ns6:ShareCapital2023-03-3106837228ns6:ShareCapital2022-03-3106837228ns6:RetainedEarningsAccumulatedLosses2023-03-3106837228ns6:RetainedEarningsAccumulatedLosses2022-03-3106837228ns6:NetGoodwill2022-04-012023-03-3106837228ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106837228ns6:PlantMachinery2022-04-012023-03-3106837228ns6:NetGoodwill2022-03-3106837228ns6:NetGoodwill2023-03-3106837228ns6:NetGoodwill2022-03-3106837228ns6:PlantMachinery2022-03-3106837228ns6:PlantMachinery2023-03-3106837228ns6:PlantMachinery2022-03-3106837228ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3106837228ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3106837228ns6:BetweenOneFiveYears2023-03-3106837228ns6:BetweenOneFiveYears2022-03-3106837228ns6:AcceleratedTaxDepreciationDeferredTax2023-03-3106837228ns6:AcceleratedTaxDepreciationDeferredTax2022-03-3106837228ns6:DeferredTaxation2022-03-3106837228ns6:DeferredTaxation2022-04-012023-03-3106837228ns6:DeferredTaxation2023-03-31
REGISTERED NUMBER: 06837228 (England and Wales)















SHEARDS ACCOUNTANCY LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHEARDS ACCOUNTANCY LIMITED

Company Information
for the year ended 31 March 2023







DIRECTORS: C Atkinson FCA
K L Winterburn FCA





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 06837228 (England and Wales)





ACCOUNTANTS: Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 172,500 201,250
Tangible assets 5 12,580 8,821
185,080 210,071

CURRENT ASSETS
Stocks 17,602 22,955
Debtors 6 127,219 116,377
Cash at bank and in hand 309,940 265,040
454,761 404,372
CREDITORS
Amounts falling due within one year 7 (243,194 ) (214,768 )
NET CURRENT ASSETS 211,567 189,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,647

399,675

PROVISIONS FOR LIABILITIES 9 (2,431 ) (1,069 )
NET ASSETS 394,216 398,606

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 394,210 398,600
SHAREHOLDERS' FUNDS 394,216 398,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




C Atkinson FCA - Director



K L Winterburn FCA - Director


SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Sheards Accountancy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sale of services, net of value added tax.

Income is recognised as earned when the company obtains the right to consideration in exchange for the services performed, and for incomplete services this includes the partial performance under contracts for services performed, on an accruals basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stock represents the value of work done but not yet invoiced at the year end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 575,000
AMORTISATION
At 1 April 2022 373,750
Charge for year 28,750
At 31 March 2023 402,500
NET BOOK VALUE
At 31 March 2023 172,500
At 31 March 2022 201,250

SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 39,652
Additions 10,191
Disposals (3,076 )
At 31 March 2023 46,767
DEPRECIATION
At 1 April 2022 30,831
Charge for year 6,432
Eliminated on disposal (3,076 )
At 31 March 2023 34,187
NET BOOK VALUE
At 31 March 2023 12,580
At 31 March 2022 8,821

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 82,189 95,668
Other debtors 45,030 20,709
127,219 116,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 43,228 17,070
Taxation and social security 98,829 91,875
Other creditors 101,137 105,823
243,194 214,768

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 167,500 -

SHEARDS ACCOUNTANCY LIMITED (REGISTERED NUMBER: 06837228)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 2,431 1,069

Deferred
tax
£   
Balance at 1 April 2022 1,069
Charge to Income Statement during year 1,362
Balance at 31 March 2023 2,431

10. RELATED PARTY DISCLOSURES

At the year end, £2,224 (2022 £3,389) was owed to the directors via way of directors' loan account. The amount is interest free, and is repayable on demand.