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REGISTERED NUMBER: 09122194 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Sherrington Associates Ltd

Sherrington Associates Ltd (Registered number: 09122194)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sherrington Associates Ltd

Company Information
for the Year Ended 31 July 2023







Directors: R D McKay
J McKay





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 09122194 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Sherrington Associates Ltd (Registered number: 09122194)

Statement of Financial Position
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 20,125 23,277

Current assets
Debtors 5 29,505 660
Cash at bank 133,198 99,435
162,703 100,095
Creditors
Amounts falling due within one year 6 43,582 47,729
Net current assets 119,121 52,366
Total assets less current liabilities 139,246 75,643

Provisions for liabilities 7 5,031 4,423
Net assets 134,215 71,220

Capital and reserves
Called up share capital 8 100 100
Retained earnings 134,115 71,120
Shareholders' funds 134,215 71,220

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

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

Sherrington Associates Ltd (Registered number: 09122194)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





R D McKay - Director


Sherrington Associates Ltd (Registered number: 09122194)

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

1. Statutory information

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

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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

Sherrington Associates Ltd (Registered number: 09122194)

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

2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 3 ) .

4. Tangible fixed assets
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
Cost
At 1 August 2022 39,694 27,595 67,289
Additions 1,581 - 1,581
At 31 July 2023 41,275 27,595 68,870
Depreciation
At 1 August 2022 16,417 27,595 44,012
Charge for year 4,733 - 4,733
At 31 July 2023 21,150 27,595 48,745
Net book value
At 31 July 2023 20,125 - 20,125
At 31 July 2022 23,277 - 23,277

5. Debtors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Other debtors 29,505 660

Sherrington Associates Ltd (Registered number: 09122194)

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

6. Creditors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Taxation and social security 42,007 32,465
Other creditors 1,575 15,264
43,582 47,729

7. Provisions for liabilities
31/7/23 31/7/22
£    £   
Deferred tax
Accelerated capital allowances 5,031 4,423

Deferred
tax
£   
Balance at 1 August 2022 4,423
Charge to Statement of Income and Retained Earnings
during year

608
Balance at 31 July 2023 5,031

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
70 A Ordinary shares £1 70 70
30 B Ordinary shares £1 30 30
100 100

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31/7/23 31/7/22
£    £   
R D McKay and J McKay
Balance outstanding at start of year - -
Amounts advanced 24,063 -
Amounts repaid (2,027 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,036 -

Sherrington Associates Ltd (Registered number: 09122194)

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

9. Directors' advances, credits and guarantees - continued

The maximum overdrawn balance during the year was £24,063. Advances include £7,000 on 27 February 2023 and £8,000 on 22 June 2023. Advances to the directors are unsecured, interest free and repayable on demand.