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Company No: 11104703 (England and Wales)

SHERPA MANAGEMENT SERVICES UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SHERPA MANAGEMENT SERVICES UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SHERPA MANAGEMENT SERVICES UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
SHERPA MANAGEMENT SERVICES UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Debtors 3 34,365 47,842
Cash at bank and in hand 233 2,247
34,598 50,089
Creditors: amounts falling due within one year 4 ( 13,441) ( 11,723)
Net current assets 21,157 38,366
Total assets less current liabilities 21,157 38,366
Creditors: amounts falling due after more than one year 5 ( 14,907) ( 25,045)
Net assets 6,250 13,321
Capital and reserves
Called-up share capital 6 611,700 601,700
Profit and loss account ( 605,450 ) ( 588,379 )
Total shareholder's funds 6,250 13,321

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sherpa Management Services UK Limited (registered number: 11104703) were approved and authorised for issue by the Director on 06 February 2024. They were signed on its behalf by:

Christopher Colin Kaye
Director
SHERPA MANAGEMENT SERVICES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SHERPA MANAGEMENT SERVICES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sherpa Management Services UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 85 First Floor, Great Portland Street, London, W1W 7LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 33,690 46,277
Amounts owed by director 675 675
Prepayments 0 890
34,365 47,842

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,141 9,893
Trade creditors 0 1,830
Accruals 3,300 0
13,441 11,723

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 14,907 25,045

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
611,700 A ordinary shares of £ 1.00 each (2022: 601,700 shares of £ 1.00 each) 611,700 601,700

7. Related party transactions

During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.

At the year end, the director owed the company £675 (2022: £675). This loan is interest free with no fixed date for repayment.