COMPANY REGISTRATION NUMBER:
09264940
Shepherd Enterprises Limited |
|
Filleted Unaudited Financial Statements |
|
Shepherd Enterprises Limited |
|
Statement of Financial Position |
|
31 October 2023
Current assets
Stocks |
2,000,000 |
|
2,000,000 |
Debtors |
4 |
780 |
|
780 |
Cash at bank and in hand |
19,842 |
|
19,571 |
|
------------ |
|
------------ |
|
2,020,622 |
|
2,020,351 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
2,286,951 |
|
2,312,276 |
|
------------ |
|
------------ |
Net current liabilities |
|
266,329 |
291,925 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
(
266,329) |
(
291,925) |
|
|
--------- |
--------- |
Net liabilities |
|
(
266,329) |
(
291,925) |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
(
266,429) |
(
292,025) |
|
|
--------- |
--------- |
Shareholders deficit |
|
(
266,329) |
(
291,925) |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
Company registration number:
09264940
Shepherd Enterprises Limited |
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Notes to the Financial Statements |
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Year ended 31 October 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is showing net liabilities amounting to £266,329 which includes £495,200 owed to a related company, Cadrela Malta Limited. The related company has indicated its continued support and therefore the director of the company believe that preparing the accounts on a going concern basis is wholly appropriate.
Income tax
The taxation expense represents the aggregate amount of current recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
780 |
780 |
|
---- |
---- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
– |
30,267 |
Other creditors |
2,286,951 |
2,282,009 |
|
------------ |
------------ |
|
2,286,951 |
2,312,276 |
|
------------ |
------------ |
|
|
|
6.
Directors' advances, credits and guarantees
At the year end, the director was owed £1,737,329 (2022: £1,732,369).
7.
Related party transactions
At the year end, the company owed £51,200 (2022: £51,200) to Shepherd Finance Limited, a company incorporated in England and Wales and controlled by the director. At the year end, the company owed £495,200 (2022: £495,200) to Cadrela Malta Limited, a company incorporated in Malta and controlled by a close family member of the director. The above loans are on interest free terms and repayable on demand.