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REGISTERED NUMBER: 01460343 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Sheerspire Limited

Sheerspire Limited (Registered number: 01460343)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sheerspire Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G Simpson





SECRETARY: Mrs H S Simpson





REGISTERED OFFICE: 40 Shore Road
Warsash
Southampton
Hampshire
SO31 9FU





REGISTERED NUMBER: 01460343 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Sheerspire Limited (Registered number: 01460343)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128,504 146,870

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 76,576 26,698
Cash at bank 53,813 23,061
132,389 51,759
CREDITORS
Amounts falling due within one year 6 116,387 53,750
NET CURRENT ASSETS/(LIABILITIES) 16,002 (1,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,506

144,879

CREDITORS
Amounts falling due after more than one
year

7

(14,808

)

(24,948

)

PROVISIONS FOR LIABILITIES (36,007 ) (27,792 )
NET ASSETS 93,691 92,139

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Retained earnings 85,691 84,139
SHAREHOLDERS' FUNDS 93,691 92,139

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

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

The director acknowledges his 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.

Sheerspire Limited (Registered number: 01460343)

Balance Sheet - continued
31 December 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 director and authorised for issue on 7 February 2024 and were signed by:





G Simpson - Director


Sheerspire Limited (Registered number: 01460343)

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

1. STATUTORY INFORMATION

Sheerspire 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

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 reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 - 2 ) .

Sheerspire Limited (Registered number: 01460343)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 522,965
Additions 28,134
Disposals (129,825 )
At 31 December 2023 421,274
DEPRECIATION
At 1 January 2023 376,095
Charge for year 30,459
Eliminated on disposal (113,784 )
At 31 December 2023 292,770
NET BOOK VALUE
At 31 December 2023 128,504
At 31 December 2022 146,870

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,986 17,618
Other debtors 10,590 9,080
76,576 26,698

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,140 9,890
Taxation and social security 60,460 25,677
Other creditors 45,787 18,183
116,387 53,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,808 24,948

8. ULTIMATE CONTROLLING PARTY

The controlling party is G Simpson.