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REGISTERED NUMBER: 05327675 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

SHEPHERD BYRNE LIMITED

SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Contents of the Financial Statements
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHEPHERD BYRNE LIMITED

Company Information
for the year ended 31 January 2024







DIRECTORS: Mrs A Shepherd (nee Byrne)
Mr S Shepherd





SECRETARY: Mrs A Shepherd (nee Byrne)





REGISTERED OFFICE: c/o Thorne Lancaster Parker
5th Floor, Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 05327675 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 43,746 2,990

CURRENT ASSETS
Debtors 6 32,908 10,431
Cash at bank 107,159 163,940
140,067 174,371
CREDITORS
Amounts falling due within one year 7 58,400 54,115
NET CURRENT ASSETS 81,667 120,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,413

123,246

PROVISIONS FOR LIABILITIES 9 1,292 538
NET ASSETS 124,121 122,708

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 124,111 122,698
SHAREHOLDERS' FUNDS 124,121 122,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Balance Sheet - continued
31 January 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





Mrs A Shepherd (nee Byrne) - Director


SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Notes to the Financial Statements
for the year ended 31 January 2024


1. STATUTORY INFORMATION

Shepherd Byrne 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is the total amount receivable, excluding value added tax, for services provided in the ordinary course of business.

Revenue is recognised when the company has the right to consideration and the amount can be reasonably ascertained.

Property, plant and equipment
Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Studio costs - 10% on straight line
Office equipment - 25% on reducing balance
Fixtures & fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets

Trade debtors and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade creditors, accruals and directors' loan accounts are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

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.

SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.

Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Studio Office and Computer
costs equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 - 8,819 3,252 - 12,071
Additions 40,632 - 6,164 415 47,211
At 31 January 2024 40,632 8,819 9,416 415 59,282
DEPRECIATION
At 1 February 2023 - 6,549 2,532 - 9,081
Charge for year 4,063 567 1,721 104 6,455
At 31 January 2024 4,063 7,116 4,253 104 15,536
NET BOOK VALUE
At 31 January 2024 36,569 1,703 5,163 311 43,746
At 31 January 2023 - 2,270 720 - 2,990


SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,555 10,078
Other debtors 23,280 280
Prepayments and accrued income 73 73
32,908 10,431

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 (1 )
Corporation tax 13,860 9,027
Social security and other taxes 11,017 (913 )
Directors' loan accounts 24,272 37,252
Accruals and deferred income 9,250 8,750
58,400 54,115

8. FINANCIAL INSTRUMENTS

The company has the following financial instruments:-

2024 2023
£ £

Financial assets that are debt instruments measured
at amortised cost:-

- Trade debtors 9,555 10,078
- Other debtors 23,280 280
- Prepayments and accrued income 73 73
32,908 10,431

2024 2023
£ £

Financial liabilities measured at amortised cost:-

- Trade creditors 1 (1 )
- Corporation tax 13,860 9,027
- Social security and other taxes 11,017 (913 )
- Directors' loan accounts 24,272 37,252
- Accruals and deferred income 9,250 8,750
58,400 54,115



SHEPHERD BYRNE LIMITED (REGISTERED NUMBER: 05327675)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,292 538

Deferred
tax
£   
Balance at 1 February 2023 538
Movement in the year 754
Balance at 31 January 2024 1,292

The provision of deferred taxation is made up of accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

11. RELATED PARTY DISCLOSURES

Loan from director

During the year the company was provided with a loan of £24,272 (2023: £37,252) by Mrs A Shepherd. This loan is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

Mrs A Shepherd, a director, together with member of her close family, controlled the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.