Company registration number 04663177 (England and Wales)
SHERRARDS EMPLOYMENT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
SHERRARDS EMPLOYMENT SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D Soanes
Mr H Sherrard
Mrs L Sherrard
Secretary
Mrs P Austen
Company number
04663177
Registered office
4 Albourne Court
Henfield Road
Albourne
Hassocks
West Sussex
BN 6 9DB
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
SHERRARDS EMPLOYMENT SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SHERRARDS EMPLOYMENT SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
13,907
16,777
13,908
16,778
Current assets
Debtors
5
200,668
283,892
Cash at bank and in hand
315,684
312,938
516,352
596,830
Creditors: amounts falling due within one year
6
(343,759)
(323,740)
Net current assets
172,593
273,090
Total assets less current liabilities
186,501
289,868
Provisions for liabilities
(1,643)
(2,243)
Net assets
184,858
287,625
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
183,858
286,625
Total equity
184,858
287,625

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SHERRARDS EMPLOYMENT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mr H Sherrard
Director
Company Registration No. 04663177
SHERRARDS EMPLOYMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Sherrards Employment Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Albourne Court, Henfield Road, Albourne, Hassocks, West Sussex, BN 6 9DB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

IP rights
Not provided
SHERRARDS EMPLOYMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

SHERRARDS EMPLOYMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
12
SHERRARDS EMPLOYMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
3
Intangible fixed assets
Goodwill
IP rights
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
300,490
1
300,491
Amortisation and impairment
At 1 April 2023 and 31 March 2024
300,490
-
0
300,490
Carrying amount
At 31 March 2024
-
0
1
1
At 31 March 2023
-
0
1
1
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
17,850
32,399
10,000
60,249
Additions
195
2,187
-
0
2,382
Disposals
-
0
(3,331)
-
0
(3,331)
At 31 March 2024
18,045
31,255
10,000
59,300
Depreciation and impairment
At 1 April 2023
12,773
23,862
6,836
43,471
Depreciation charged in the year
1,317
2,681
791
4,789
Eliminated in respect of disposals
-
0
(2,867)
-
0
(2,867)
At 31 March 2024
14,090
23,676
7,627
45,393
Carrying amount
At 31 March 2024
3,955
7,579
2,373
13,907
At 31 March 2023
5,076
8,537
3,164
16,777
SHERRARDS EMPLOYMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
122,465
222,752
Corporation tax recoverable
2,531
-
0
Other debtors
16,300
5,350
Prepayments and accrued income
59,372
55,790
200,668
283,892
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
72,775
88,877
Corporation tax
64,381
60,036
Other taxation and social security
41,372
31,089
Other creditors
-
0
17,053
Accruals and deferred income
165,231
126,685
343,759
323,740
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Ordinary A of £1 each
650
650
650
650
Ordinary B of £1 each
250
250
250
250
Ordinary C of £1 each
50
50
50
50
Ordinary D of £1 each
50
50
50
50
1,000
1,000
1,000
1,000

 

2024-03-312023-04-01false30 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr D SoanesMr H SherrardMrs L SherrardMrs P Austenfalsefalse046631772023-04-012024-03-3104663177bus:Director12023-04-012024-03-3104663177bus:Director22023-04-012024-03-3104663177bus:Director32023-04-012024-03-3104663177bus:CompanySecretary12023-04-012024-03-3104663177bus:RegisteredOffice2023-04-012024-03-31046631772024-03-31046631772023-03-3104663177core:Goodwill2024-03-3104663177core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-03-3104663177core:Goodwill2023-03-3104663177core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-3104663177core:FurnitureFittings2024-03-3104663177core:ComputerEquipment2024-03-3104663177core:MotorVehicles2024-03-3104663177core:FurnitureFittings2023-03-3104663177core:ComputerEquipment2023-03-3104663177core:MotorVehicles2023-03-3104663177core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3104663177core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104663177core:CurrentFinancialInstruments2024-03-3104663177core:CurrentFinancialInstruments2023-03-3104663177core:ShareCapital2024-03-3104663177core:ShareCapital2023-03-3104663177core:RetainedEarningsAccumulatedLosses2024-03-3104663177core:RetainedEarningsAccumulatedLosses2023-03-3104663177core:ShareCapitalOrdinaryShares2024-03-3104663177core:ShareCapitalOrdinaryShares2023-03-3104663177core:Goodwill2023-04-012024-03-3104663177core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104663177core:FurnitureFittings2023-04-012024-03-3104663177core:ComputerEquipment2023-04-012024-03-3104663177core:MotorVehicles2023-04-012024-03-31046631772022-04-012023-03-3104663177core:Goodwill2023-03-3104663177core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-31046631772023-03-3104663177core:FurnitureFittings2023-03-3104663177core:ComputerEquipment2023-03-3104663177core:MotorVehicles2023-03-3104663177bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104663177bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104663177bus:FRS1022023-04-012024-03-3104663177bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104663177bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP