Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs A M Breen 16/10/2003 05 September 2024 The principal activity of the Company during the financial year was that of an investment company 04930589 2024-03-31 04930589 bus:Director1 2024-03-31 04930589 core:CurrentFinancialInstruments 2024-03-31 04930589 core:CurrentFinancialInstruments 2023-03-31 04930589 2023-03-31 04930589 core:ShareCapital 2024-03-31 04930589 core:ShareCapital 2023-03-31 04930589 core:RetainedEarningsAccumulatedLosses 2024-03-31 04930589 core:RetainedEarningsAccumulatedLosses 2023-03-31 04930589 2023-04-01 2024-03-31 04930589 bus:FilletedAccounts 2023-04-01 2024-03-31 04930589 bus:SmallEntities 2023-04-01 2024-03-31 04930589 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04930589 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04930589 bus:Director1 2023-04-01 2024-03-31 04930589 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 04930589 (England and Wales)

SHARPSHORE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SHARPSHORE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SHARPSHORE LTD

BALANCE SHEET

As at 31 March 2024
SHARPSHORE LTD

BALANCE SHEET (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Debtors 3 2,930,999 762,198
Cash at bank and in hand 51,909 73,647
2,982,908 835,845
Creditors: amounts falling due within one year 4 ( 2,077,042) ( 9,864)
Net current assets 905,866 825,981
Total assets less current liabilities 905,866 825,981
Net assets 905,866 825,981
Capital and reserves
Called-up share capital 275,000 275,000
Profit and loss account 630,866 550,981
Total shareholder's funds 905,866 825,981

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

Director's responsibilities:

The financial statements of Sharpshore Ltd (registered number: 04930589) were approved and authorised for issue by the Director on 05 September 2024. They were signed on its behalf by:

Mrs A M Breen
Director
SHARPSHORE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SHARPSHORE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sharpshore Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

The company is ran and administered by the directors of which no formal contracts are in place.

3. Debtors

2024 2023
£ £
Other debtors 2,930,999 762,198

4. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 28,295 7,589
Other creditors 2,048,747 2,275
2,077,042 9,864

5. Related party transactions

Transactions with the entity's director

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2023, the balance owed by the directors was £55,144. During the year, £131,880 was advanced and £2,234,021 was repaid. At 31 March 2024, the balance owed to the directors was £2,046,997.

At 1 April 2022, the balance owed by the directors was £397. During the year, £57,940 was advanced and £2,397 was repaid. At 31 March 2023, the balance owed by the directors was £55,144.