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Registered number: 09639471
Sheriff Electrical & Security Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
Jolliffe Consultancy Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09639471
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,167 4,167
Tangible Assets 5 14,860 19,814
18,027 23,981
CURRENT ASSETS
Stocks 6 6,419 7,959
Debtors 7 16,934 25,623
Cash at bank and in hand 52,688 33,632
76,041 67,214
Creditors: Amounts Falling Due Within One Year 8 (18,092 ) (19,011 )
NET CURRENT ASSETS (LIABILITIES) 57,949 48,203
TOTAL ASSETS LESS CURRENT LIABILITIES 75,976 72,184
Creditors: Amounts Falling Due After More Than One Year 9 (51,723 ) (49,971 )
NET ASSETS 24,253 22,213
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 24,153 22,113
SHAREHOLDERS' FUNDS 24,253 22,213
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Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Serif Coskun
Director
28/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sheriff Electrical & Security Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09639471 . The registered office is 10 The Square, Keyworth, Nottingham, NG12 5JT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2022 10,000
As at 30 June 2023 10,000
Amortisation
As at 1 July 2022 5,833
Provided during the period 1,000
As at 30 June 2023 6,833
Net Book Value
As at 30 June 2023 3,167
As at 1 July 2022 4,167
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2022 2,606 39,682 330 42,618
As at 30 June 2023 2,606 39,682 330 42,618
Depreciation
As at 1 July 2022 1,793 20,772 239 22,804
Provided during the period 203 4,728 23 4,954
As at 30 June 2023 1,996 25,500 262 27,758
Net Book Value
As at 30 June 2023 610 14,182 68 14,860
As at 1 July 2022 813 18,910 91 19,814
6. Stocks
2023 2022
£ £
Stock 6,419 7,959
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 16,934 25,623
16,934 25,623
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,214 7,811
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 241 -
Net wages 2,317 -
Accruals and deferred income 1,320 1,200
18,092 19,011
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,167 34,167
Directors loan account 27,556 15,804
51,723 49,971
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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