Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-302022-07-01falseArchitects4539truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07308290 2022-07-01 2023-06-30 07308290 2021-07-01 2022-06-30 07308290 2023-06-30 07308290 2022-06-30 07308290 2021-07-01 07308290 c:Director3 2022-07-01 2023-06-30 07308290 d:FurnitureFittings 2022-07-01 2023-06-30 07308290 d:FurnitureFittings 2023-06-30 07308290 d:FurnitureFittings 2022-06-30 07308290 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07308290 d:Goodwill 2023-06-30 07308290 d:Goodwill 2022-06-30 07308290 d:CurrentFinancialInstruments 2023-06-30 07308290 d:CurrentFinancialInstruments 2022-06-30 07308290 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07308290 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07308290 d:ShareCapital 2023-06-30 07308290 d:ShareCapital 2022-06-30 07308290 d:SharePremium 2023-06-30 07308290 d:SharePremium 2022-06-30 07308290 d:CapitalRedemptionReserve 2023-06-30 07308290 d:CapitalRedemptionReserve 2022-06-30 07308290 d:RetainedEarningsAccumulatedLosses 2023-06-30 07308290 d:RetainedEarningsAccumulatedLosses 2022-06-30 07308290 c:FRS102 2022-07-01 2023-06-30 07308290 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07308290 c:FullAccounts 2022-07-01 2023-06-30 07308290 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07308290 d:WithinOneYear 2023-06-30 07308290 d:WithinOneYear 2022-06-30 07308290 d:BetweenOneFiveYears 2023-06-30 07308290 d:BetweenOneFiveYears 2022-06-30 07308290 d:MoreThanFiveYears 2023-06-30 07308290 d:MoreThanFiveYears 2022-06-30 07308290 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07308290 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 07308290 d:RetirementBenefitObligationsDeferredTax 2023-06-30 07308290 d:RetirementBenefitObligationsDeferredTax 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 07308290










JEFFERSON SHEARD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
JEFFERSON SHEARD LIMITED
REGISTERED NUMBER: 07308290

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
107,651
80,626

Current assets
  

Debtors: amounts falling due within one year
 6 
1,399,875
1,454,449

Cash at bank and in hand
  
735,358
423,077

  
2,135,233
1,877,526

Creditors: amounts falling due within one year
 7 
(816,892)
(812,939)

Net current assets
  
 
 
1,318,341
 
 
1,064,587

Total assets less current liabilities
  
1,425,992
1,145,213

Provisions for liabilities
  

Deferred tax
 8 
(22,653)
(16,388)

Net assets
  
1,403,339
1,128,825


Capital and reserves
  

Called up share capital 
  
30
30

Share premium account
  
208,411
208,411

Capital redemption reserve
  
13
13

Profit and loss account
  
1,194,885
920,371

  
1,403,339
1,128,825

Page 1

 
JEFFERSON SHEARD LIMITED
REGISTERED NUMBER: 07308290
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 February 2024.





M T Hall
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Jefferson Sheard Limited is a company limited by shares, incorporated in England and Wales (registered number: 07308290). Its registered office is Fulcrum, 2 Sidney Street, Sheffield, S1 4RH. The principal activity of the Company throughout the year continued to be that of architects.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Intangible asset

                 Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and
the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the
date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to
the Statement of Comprehensive Income over its useful economic life.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
45
39

Page 6

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
92,193



At 30 June 2023

92,193



Amortisation


At 1 July 2022
92,193



At 30 June 2023

92,193



Net book value



At 30 June 2023
-



At 30 June 2022
-



Page 7

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 July 2022
140,037


Additions
42,303



At 30 June 2023

182,340



Depreciation


At 1 July 2022
59,411


Charge for the year on owned assets
15,278



At 30 June 2023

74,689



Net book value



At 30 June 2023
107,651



At 30 June 2022
80,626


6.


Debtors

2023
2022
£
£


Trade debtors
1,302,882
1,324,765

Other debtors
59,410
74,701

Prepayments and accrued income
37,583
54,983

1,399,875
1,454,449


Page 8

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
239,155

Trade creditors
389,748
201,377

Corporation tax
215,049
146,114

Other taxation and social security
178,244
197,033

Other creditors
33,851
29,260

816,892
812,939



8.


Deferred taxation




2023
2022


£

£






At beginning of year
16,388
7,884


Charged to profit or loss
6,265
8,504



At end of year
22,653
16,388

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
26,913
20,157

Pension surplus
(4,260)
(3,769)

22,653
16,388

Page 9

 
JEFFERSON SHEARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £223,357 (2022: £223,441). Contributions totalling £17,962 (2022 - £15,075) were payable to the fund at the balance sheet date and are included in creditors.


10.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
71,317
79,767

Later than 1 year and not later than 5 years
220,000
263,317

Later than 5 years
51,333
79,333

342,650
422,417


11.


Related party transactions

T A R Jones is a director of the company and provides expert witness services to the company via a company which is under his control. The total amount invoiced to the company in the year was £140,042 (2022: £108,031) of which £97,679 (2022: £73,233) was outstanding at the year end.

 
Page 10