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REGISTERED NUMBER: 07082198 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sedman Shoes Limited

Sedman Shoes Limited (Registered number: 07082198)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sedman Shoes Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D P Sedman
Mr S R Gladstone





SECRETARY: Mr D P Sedman





REGISTERED OFFICE: 15 The Green
Cranswick
DRIFFIELD
East Yorkshire
YO25 9PD





REGISTERED NUMBER: 07082198 (England and Wales)





ACCOUNTANTS: Nigel Coyle & Co Limited
Office F12
Beverley Enterprise Centre
Beck View Road
Beverley
Yorkshire
HU17 0JT

Sedman Shoes Limited (Registered number: 07082198)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,799 4,552

CURRENT ASSETS
Stocks 312,621 256,307
Debtors 5 15,963 747
Cash at bank and in hand 162,567 180,772
491,151 437,826
CREDITORS
Amounts falling due within one year 6 127,278 110,973
NET CURRENT ASSETS 363,873 326,853
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,672

331,405

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 367,572 331,305
367,672 331,405

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Mr D P Sedman - Director


Sedman Shoes Limited (Registered number: 07082198)

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

1. STATUTORY INFORMATION

Sedman Shoes Limited 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Sedman Shoes Limited (Registered number: 07082198)

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

4. TANGIBLE FIXED ASSETS
Motor Office Computer
Equipment vehicles equipment equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 751 15,825 4,571 8,142 29,289
Additions - - 74 - 74
At 31 December 2023 751 15,825 4,645 8,142 29,363
DEPRECIATION
At 1 January 2023 405 13,170 3,021 8,141 24,737
Charge for year 52 531 244 - 827
At 31 December 2023 457 13,701 3,265 8,141 25,564
NET BOOK VALUE
At 31 December 2023 294 2,124 1,380 1 3,799
At 31 December 2022 346 2,655 1,550 1 4,552

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 14,050 -
Prepayments 1,913 747
15,963 747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 26,829 23,256
Tax 28,001 25,530
Social security and other taxes 16,131 11,130
Other creditors - 3,086
Directors' current accounts 51,567 43,421
Accrued expenses 4,750 4,550
127,278 110,973

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D P Sedman.