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COMPANY REGISTRATION NUMBER: 13446442
Sheerline Holdings Ltd
Filleted Unaudited Financial Statements
30 June 2023
Sheerline Holdings Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Sheerline Holdings Ltd
Officers and Professional Advisers
The board of directors
E T A Eidsgaard
P T Eidsgaard
B A K Harrison
Registered office
12 Petersham Road
Richmond
London
TW10 6UW
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Sheerline Holdings Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Sheerline Holdings Ltd
Year ended 30 June 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 June 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Sheerline Holdings Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
3,661,308
3,321,311
Current assets
Debtors
5
147,888
111,606
Cash at bank and in hand
142,197
150,662
---------
---------
290,085
262,268
Creditors: amounts falling due within one year
6
1,998,158
1,668,789
------------
------------
Net current liabilities
1,708,073
1,406,521
------------
------------
Total assets less current liabilities
1,953,235
1,914,790
Creditors: amounts falling due after more than one year
7
2,016,868
2,103,619
------------
------------
Net liabilities
( 63,633)
( 188,829)
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 64,633)
( 189,829)
--------
---------
Shareholders deficit
( 63,633)
( 188,829)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sheerline Holdings Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
P T Eidsgaard
Director
Company registration number: 13446442
Sheerline Holdings Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Petersham Road, Richmond, London, TW10 6UW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment properties
Investment properties are accounted for at their fair value every year. Changes in fair value are reflected through the profit and loss account and any unrealised gains or losses are transferred from profit and loss to the fair value reserve. No depreciation is provided in respect of investment properties. The directors consider that these properties are not held for consumption but for investment and that to depreciate them would not give a true and fair view. The amount of depreciation which might otherwise have been charged cannot be separately identified or quantified as it is not practical to assess the estimated useful lives for investment properties.
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
4. Tangible assets
Freehold property
£
Cost
At 1 July 2022
3,321,311
Additions
339,997
------------
At 30 June 2023
3,661,308
------------
Depreciation
At 1 July 2022 and 30 June 2023
------------
Carrying amount
At 30 June 2023
3,661,308
------------
At 30 June 2022
3,321,311
------------
At the period end, the directors are of the opinion that there is no material difference between cost and the revalued amount of the properties and that these are revalued each year in line with the accounting policy adopted .
5. Debtors
2023
2022
£
£
Trade debtors
84,000
Other debtors
63,888
111,606
---------
---------
147,888
111,606
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
85,879
56,381
Trade creditors
76,071
100,748
Social security and other taxes
41,439
Other creditors
1,794,769
1,511,660
------------
------------
1,998,158
1,668,789
------------
------------
The company has provided security by way of a fixed and floating charge over all the property and undertaking of the company in favour of Barclays Security Trustee Limited.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
2,016,868
2,103,619
------------
------------
8. Controlling party
In the opinion of the directors, there is no one controlling party of the company.