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REGISTERED NUMBER: 06333002 (England and Wales)





















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Shervey Limited

Shervey Limited (Registered number: 06333002)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shervey Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: N S Meyer
Mrs S P Meyer
Mrs A P MacFarlane





SECRETARY: N S Meyer





REGISTERED OFFICE: First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN





BUSINESS ADDRESS: The Newgrange Residential Home
Cadmore Lane
Cheshunt
Hertfordshire
EN8 9JX





REGISTERED NUMBER: 06333002 (England and Wales)





ACCOUNTANTS: Mark Ward Chartered Certified Accountants
First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN

Shervey Limited (Registered number: 06333002)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,421 -
Investments 5 3 3
43,424 3

CURRENT ASSETS
Debtors 6 3,780,385 3,991,202
Cash at bank 76,724 29,059
3,857,109 4,020,261
CREDITORS
Amounts falling due within one year 7 126,826 252,070
NET CURRENT ASSETS 3,730,283 3,768,191
TOTAL ASSETS LESS CURRENT LIABILITIES 3,773,707 3,768,194

CREDITORS
Amounts falling due after more than one
year

8

1,610,536

1,671,198
NET ASSETS 2,163,171 2,096,996

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Capital redemption reserve 25,000 25,000
Retained earnings 2,113,171 2,046,996
SHAREHOLDERS' FUNDS 2,163,171 2,096,996

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Shervey Limited (Registered number: 06333002)

Balance Sheet - continued
31 August 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 2 October 2023 and were signed on its behalf by:





N S Meyer - Director


Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Shervey 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Preparation of consolidated financial statements
The financial statements contain information about Shervey Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds the following financial instruments:

- Short term trade and other debtors and creditors;
- Bank loans; and
- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2022 - 5 ) .

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 57,895
At 31 August 2023 57,895
DEPRECIATION
Charge for year 14,474
At 31 August 2023 14,474
NET BOOK VALUE
At 31 August 2023 43,421

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 57,895
At 31 August 2023 57,895
DEPRECIATION
Charge for year 14,474
At 31 August 2023 14,474
NET BOOK VALUE
At 31 August 2023 43,421

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 3
NET BOOK VALUE
At 31 August 2023 3
At 31 August 2022 3

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Newgrange of Cheshunt Limited
Registered office: First Floor, CEF Building, Broomhill Way, Torquay, TQ2 7QN
Nature of business: Residential Care Home
%
Class of shares: holding
Ordinary 100.00
31.8.23 31.8.22
£    £   
Aggregate capital and reserves 228,787 314,720
Profit for the year/period 214,067 323,497

Newgrange Ware Limited
Registered office: First Floor, CEF Building, Broomhill Way, Torquay, TQ2 7QN
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.8.23 31.8.22
£    £   
Aggregate capital and reserves (312 ) (312 )

Clawhill Limited
Registered office: First Floor, CEF Building, Broomhill Way, Torquay, TQ2 7QN
Nature of business: Leasing of equipment
%
Class of shares: holding
Ordinary 100.00

6. DEBTORS
31.8.23 31.8.22
£    £   
Amounts falling due within one year:
Other debtors 449,546 610,015

Amounts falling due after more than one year:
Amounts owed by group undertakings 3,330,839 3,381,187

Aggregate amounts 3,780,385 3,991,202

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts (see note 9) 83,042 78,802
Hire purchase contracts 5,255 -
Trade creditors - 13,104
Taxation and social security 231 112,089
Other creditors 38,298 48,075
126,826 252,070

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 9) 1,568,334 1,671,198
Hire purchase contracts 42,202 -
1,610,536 1,671,198

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,189,011 1,311,244

9. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 83,042 78,802

Amounts falling due between one and two years:
Bank loans - 1-2 years 87,511 83,042

Amounts falling due between two and five years:
Bank loans - 2-5 years 291,812 276,912

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,189,011 1,311,244

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 1,651,376 1,750,000

Bank loans and overdrafts are secured by charges over freehold property owned by the group and over all other assets of the group and a personal guarantee of the directors.

11. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the year ended 31 August 2023 and the period ended 31 August 2022:

31.8.23 31.8.22
£    £   
N S Meyer and Mrs S P Meyer
Balance outstanding at start of year 498,899 -
Amounts advanced - 498,899
Amounts repaid (160,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 338,899 498,899