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Registered number: 08977886
SHEPPARD PILING LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08977886
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,531,262 5,456,402
5,531,262 5,456,402
CURRENT ASSETS
Stocks 5 112,123 153,450
Debtors 6 3,057,638 3,431,015
Cash at bank and in hand 274,189 164,046
3,443,950 3,748,511
Creditors: Amounts Falling Due Within One Year 7 (3,572,696 ) (3,570,658 )
NET CURRENT ASSETS (LIABILITIES) (128,746 ) 177,853
TOTAL ASSETS LESS CURRENT LIABILITIES 5,402,516 5,634,255
Creditors: Amounts Falling Due After More Than One Year 8 (1,463,705 ) (2,135,253 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,125,749 ) (798,966 )
NET ASSETS 2,813,062 2,700,036
CAPITAL AND RESERVES
Called up share capital 10 104 101
Profit and Loss Account 2,812,958 2,699,935
SHAREHOLDERS' FUNDS 2,813,062 2,700,036
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Barry Sheppard
Director
10th July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SHEPPARD PILING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08977886 . The registered office is Unit 28 Basepoint Business Centre, Jubilee Close, Weymouth, DT4 7BS.
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. 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:
Leasehold 10% straight line
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: 14)
12 14
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2022 82,971 6,775,606 544,661 126,498
Additions 1,020 770,214 - 3,640
Disposals - (10,127 ) - -
As at 30 November 2023 83,991 7,535,693 544,661 130,138
Depreciation
As at 1 December 2022 17,102 1,794,788 229,043 42,114
Provided during the period 7,890 609,547 60,863 10,377
Disposals - (4,375 ) - -
As at 30 November 2023 24,992 2,399,960 289,906 52,491
Net Book Value
As at 30 November 2023 58,999 5,135,733 254,755 77,647
As at 1 December 2022 65,869 4,980,818 315,618 84,384
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 December 2022 46,697 7,576,433
Additions 1,221 776,095
Disposals - (10,127 )
As at 30 November 2023 47,918 8,342,401
Depreciation
As at 1 December 2022 36,984 2,120,031
Provided during the period 6,806 695,483
Disposals - (4,375 )
As at 30 November 2023 43,790 2,811,139
Net Book Value
As at 30 November 2023 4,128 5,531,262
As at 1 December 2022 9,713 5,456,402
5. Stocks
2023 2022
£ £
Stock 112,123 153,450
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,146,913 2,492,066
Amounts owed by group undertakings 355,998 -
Amounts owed by participating interests 100 184,936
Other debtors 554,627 754,013
3,057,638 3,431,015
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 806,607 799,577
Trade creditors 1,640,468 2,003,645
Other loans - 56,213
Invoice Discounting 791,646 593,758
Amounts owed to participating interests 19,458 -
Other creditors 264,845 64,484
Taxation and social security 49,672 52,981
3,572,696 3,570,658
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,463,705 2,096,158
Other loans - 39,095
1,463,705 2,135,253
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 806,607 799,577
Later than one year and not later than five years 1,463,705 2,096,158
2,270,312 2,895,735
2,270,312 2,895,735
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 104 101
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Barry Sheppard 193,319 - (193,319 ) - -
Mr Nicholas Burton 55,126 98,233 (55,126 ) - 98,233
Mr Anthony Ewers 52,649 74,949 (52,649 ) - 74,949
Mr Robert Sheppard 82,514 106,812 (82,514 ) - 106,812
The above loans are unsecured, interest free and repayable on demand.
12. Ultimate Controlling Party
The company's ultimate controlling party is Barry Sheppard by virtue of his ownership of 70% of the issued share capital in the parent company.
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