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REGISTERED NUMBER: 00605895 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

J F SHEARS LIMITED

J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J F SHEARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: M A Shears
Mrs S J Byass





REGISTERED OFFICE: 232 Sladepool Farm Road
Birmingham
B14 5EE





REGISTERED NUMBER: 00605895 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,000,000 1,000,000

CURRENT ASSETS
Debtors 6 837 315
Cash at bank 54,577 88,855
55,414 89,170
CREDITORS
Amounts falling due within one year 7 18,244 32,342
NET CURRENT ASSETS 37,170 56,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,037,170

1,056,828

PROVISIONS FOR LIABILITIES 82,050 62,350
NET ASSETS 955,120 994,478

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Revaluation reserve 9 567,419 587,119
Retained earnings 385,701 405,359
SHAREHOLDERS' FUNDS 955,120 994,478

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

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

J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 19 February 2024 and were signed on its behalf by:





M A Shears - Director


J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

J F Shears 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

Significant judgements and estimates
In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost

The company's practice is to maintain its land and buildings in a state of repair and refurbishment such that the residual value is at least equal to its book value. Consequently a depreciation charge is considered to be immaterial.

Tangible fixed assets are initially recorded at cost.

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable by the company are charged to profit or loss in the period to which they relate.

J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. ACCOUNTING POLICIES - continued

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 1,000,000 3,395 1,003,395
DEPRECIATION
At 1 June 2022
and 31 May 2023 - 3,395 3,395
NET BOOK VALUE
At 31 May 2023 1,000,000 - 1,000,000
At 31 May 2022 1,000,000 - 1,000,000

Cost or valuation at 31 May 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2007 1,000,000 - 1,000,000
Cost - 3,395 3,395
1,000,000 3,395 1,003,395

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 350,531 350,531

Land and buildings were valued on an open market basis on 31 May 2007 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 522 -
Prepayments and accrued income 315 315
837 315

J F SHEARS LIMITED (REGISTERED NUMBER: 00605895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,928 15,915
Taxation and social security 1,631 9,204
Other creditors - 40
Accruals and deferred income 3,685 7,183
18,244 32,342

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary "A" £1 1,000 1,000
1,000 Ordinary "B" non voting £1 1,000 1,000
2,000 2,000

9. RESERVES
Revaluation
reserve
£   
At 1 June 2022 587,119
Land and buildings deferred tax adjustment (19,700 )

At 31 May 2023 567,419