102 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 137,200 542,998 680,198 15,595 37,353 52,948 627,250 121,605 780,000 887,924 1,667,924 173,431 327,998 501,429 1,166,495 606,569 xbrli:pure xbrli:shares iso4217:GBP 10225947 2022-01-01 2022-12-31 10225947 2022-12-31 10225947 2021-12-31 10225947 2020-08-01 2021-12-31 10225947 2021-12-31 10225947 core:NetGoodwill 2022-01-01 2022-12-31 10225947 core:FurnitureFittings 2022-01-01 2022-12-31 10225947 core:MotorVehicles 2022-01-01 2022-12-31 10225947 bus:Director1 2022-01-01 2022-12-31 10225947 core:NetGoodwill 2021-12-31 10225947 core:NetGoodwill 2022-12-31 10225947 core:FurnitureFittings 2021-12-31 10225947 core:MotorVehicles 2021-12-31 10225947 core:FurnitureFittings 2022-12-31 10225947 core:MotorVehicles 2022-12-31 10225947 core:WithinOneYear 2022-12-31 10225947 core:WithinOneYear 2021-12-31 10225947 core:AfterOneYear 2022-12-31 10225947 core:AfterOneYear 2021-12-31 10225947 core:ShareCapital 2022-12-31 10225947 core:ShareCapital 2021-12-31 10225947 core:RetainedEarningsAccumulatedLosses 2022-12-31 10225947 core:RetainedEarningsAccumulatedLosses 2021-12-31 10225947 core:NetGoodwill 2021-12-31 10225947 core:CostValuation core:Non-currentFinancialInstruments 2021-12-31 10225947 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-12-31 10225947 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 10225947 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2021-12-31 10225947 core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2022-12-31 10225947 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-12-31 10225947 core:Non-currentFinancialInstruments 2022-12-31 10225947 core:Non-currentFinancialInstruments 2021-12-31 10225947 core:FurnitureFittings 2021-12-31 10225947 core:MotorVehicles 2021-12-31 10225947 bus:SmallEntities 2022-01-01 2022-12-31 10225947 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 10225947 bus:FullAccounts 2022-01-01 2022-12-31 10225947 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 10225947 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10225947 core:OfficeEquipment 2022-01-01 2022-12-31 10225947 core:OfficeEquipment 2021-12-31 10225947 core:OfficeEquipment 2022-12-31
COMPANY REGISTRATION NUMBER: 10225947
Sheldon Bosley Knight Limited
Filleted Unaudited Financial Statements
31 December 2022
Sheldon Bosley Knight Limited
Financial Statements
Year ended 31 December 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Sheldon Bosley Knight Limited
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
Fixed assets
Intangible assets
5
627,250
121,605
Tangible assets
6
125,997
115,418
Investments
7
1,166,495
606,569
------------
---------
1,919,742
843,592
Current assets
Stocks
53,000
53,000
Debtors
8
2,281,729
596,676
Cash at bank and in hand
102,283
501,802
------------
------------
2,437,012
1,151,478
Creditors: amounts falling due within one year
9
2,730,560
993,732
------------
------------
Net current (liabilities)/assets
( 293,548)
157,746
------------
------------
Total assets less current liabilities
1,626,194
1,001,338
Creditors: amounts falling due after more than one year
10
266,144
75,388
------------
------------
Net assets
1,360,050
925,950
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,360,049
925,949
------------
---------
Shareholders funds
1,360,050
925,950
------------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 December 2022 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 .
Sheldon Bosley Knight Limited
Statement of Financial Position (continued)
31 December 2022
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr M Cleary
Director
Company registration number: 10225947
Sheldon Bosley Knight Limited
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35/36 Rother Street, Stratford-Upon-Avon, Warwickshire, CV37 6LP.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 102 (2021: 107 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2022
137,200
Additions
542,998
---------
At 31 December 2022
680,198
---------
Amortisation
At 1 January 2022
15,595
Charge for the year
37,353
---------
At 31 December 2022
52,948
---------
Carrying amount
At 31 December 2022
627,250
---------
At 31 December 2021
121,605
---------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2022
71,971
25,490
104,128
201,589
Additions
8,748
34,773
43,521
--------
--------
---------
---------
At 31 December 2022
71,971
34,238
138,901
245,110
--------
--------
---------
---------
Depreciation
At 1 January 2022
27,383
11,152
47,636
86,171
Charge for the year
8,918
5,771
18,253
32,942
--------
--------
---------
---------
At 31 December 2022
36,301
16,923
65,889
119,113
--------
--------
---------
---------
Carrying amount
At 31 December 2022
35,670
17,315
73,012
125,997
--------
--------
---------
---------
At 31 December 2021
44,588
14,338
56,492
115,418
--------
--------
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2022
780,000
Additions
887,924
------------
At 31 December 2022
1,667,924
------------
Impairment
At 1 January 2022
173,431
Revaluations
327,998
------------
At 31 December 2022
501,429
------------
Carrying amount
At 31 December 2022
1,166,495
------------
At 31 December 2021
606,569
------------
8. Debtors
2022
2021
£
£
Trade debtors
430,945
207,437
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,763,435
310,147
Other debtors
87,349
79,092
------------
---------
2,281,729
596,676
------------
---------
9. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
112,623
73,418
Trade creditors
86,516
53,237
Amounts owed to group undertakings and undertakings in which the company has a participating interest
322,551
356,942
Corporation tax
252,880
283,256
Social security and other taxes
515,844
155,049
Other creditors - Pension liability
25,286
Other creditors
1,414,860
71,830
------------
---------
2,730,560
993,732
------------
---------
10. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
266,144
75,388
---------
--------
11. Directors' advances, credits and guarantees
There were none during the year.