Registered number
12498914
SENTRY MEAD LIMITED
Filleted Accounts
31 December 2023
SENTRY MEAD LIMITED
Registered number: 12498914
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 58,583 68,083
Tangible assets 4 39,616 50,055
98,199 118,138
Current assets
Debtors 5 4,601 9,999
Cash at bank and in hand 18,526 60,018
23,127 70,017
Creditors: amounts falling due within one year 6 (443,433) (427,090)
Net current liabilities (420,306) (357,073)
Net liabilities (322,107) (238,935)
Capital and reserves
Called up share capital 3 3
Profit and loss account (322,110) (238,938)
Shareholders' funds (322,107) (238,935)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Walker
Director
Approved by the board on 30 April 2024
SENTRY MEAD LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% reducing balance basis
Computers 3 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 95,000
At 31 December 2023 95,000
Amortisation
At 1 January 2023 26,917
Provided during the year 9,500
At 31 December 2023 36,417
Net book value
At 31 December 2023 58,583
At 31 December 2022 68,083
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 65,648
At 31 December 2023 65,648
Depreciation
At 1 January 2023 15,593
Charge for the year 10,439
At 31 December 2023 26,032
Net book value
At 31 December 2023 39,616
At 31 December 2022 50,055
5 Debtors 2023 2022
£ £
Deferred tax asset 1,983 -
Other debtors 2,618 9,999
4,601 9,999
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 23,979 34,628
Trade creditors 22,058 52,000
Taxation and social security costs 897 3,491
Other creditors 396,499 336,971
443,433 427,090
7 Other information
SENTRY MEAD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Gladstone House
77/79 High Street
Egham
SURREY
TW20 9HY
8 Related Party transactions
The company received a loan during the year from A2K Investments Limited,
a company of which Mr D J Walker is a director. At the year end the balance owed is £341,811.
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