Sheppard's Construction Limited 10618903 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of construction Digita Accounts Production Advanced 6.30.9574.0 true 10618903 2023-04-01 2024-03-31 10618903 2024-03-31 10618903 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2024-03-31 10618903 core:CurrentFinancialInstruments 2024-03-31 10618903 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10618903 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10618903 core:FurnitureFittingsToolsEquipment 2024-03-31 10618903 core:MotorVehicles 2024-03-31 10618903 bus:SmallEntities 2023-04-01 2024-03-31 10618903 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10618903 bus:FilletedAccounts 2023-04-01 2024-03-31 10618903 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10618903 bus:RegisteredOffice 2023-04-01 2024-03-31 10618903 bus:Director2 2023-04-01 2024-03-31 10618903 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-04-01 2024-03-31 10618903 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10618903 core:ComputerEquipment 2023-04-01 2024-03-31 10618903 core:FurnitureFittings 2023-04-01 2024-03-31 10618903 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10618903 core:MotorVehicles 2023-04-01 2024-03-31 10618903 core:PlantMachinery 2023-04-01 2024-03-31 10618903 countries:Wales 2023-04-01 2024-03-31 10618903 2023-03-31 10618903 core:FurnitureFittingsToolsEquipment 2023-03-31 10618903 core:MotorVehicles 2023-03-31 10618903 2022-04-01 2023-03-31 10618903 2023-03-31 10618903 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-03-31 10618903 core:CurrentFinancialInstruments 2023-03-31 10618903 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10618903 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10618903 core:FurnitureFittingsToolsEquipment 2023-03-31 10618903 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10618903

Sheppard's Construction Limited trading as Sheppards Construction Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Company Information

Director

Mr Stuart Douglas Sheppard

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

(Registration number: 10618903)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

56,000

69,447

Current assets

 

Stocks

5

61,405

10,000

Debtors

6

50,007

31,481

Cash at bank and in hand

 

1,120

22,273

 

112,532

63,754

Creditors: Amounts falling due within one year

7

(93,871)

(80,826)

Net current assets/(liabilities)

 

18,661

(17,072)

Total assets less current liabilities

 

74,661

52,375

Creditors: Amounts falling due after more than one year

7

(12,558)

(28,239)

Provisions for liabilities

(10,640)

-

Net assets

 

51,463

24,136

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

51,461

24,134

Shareholders' funds

 

51,463

24,136

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

(Registration number: 10618903)
Balance Sheet as at 31 March 2024
(continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 August 2024
 

.........................................
Mr Stuart Douglas Sheppard
Director

   
     
 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

These financial statements were authorised for issue by the director on 23 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% of written down value per annum

Plant and machinery

20% of written down value per annum

Computer equipment

25% of straight line

Fixtures and fittings

20% of straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 6).

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

58,086

77,705

135,791

Additions

752

-

752

At 31 March 2024

58,838

77,705

136,543

Depreciation

At 1 April 2023

30,246

36,098

66,344

Charge for the year

5,876

8,323

14,199

At 31 March 2024

36,122

44,421

80,543

Carrying amount

At 31 March 2024

22,716

33,284

56,000

At 31 March 2023

27,840

41,607

69,447

5

Stocks

2024
£

2023
£

Work in progress

56,405

10,000

Other inventories

5,000

-

61,405

10,000

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

15,391

6,913

Prepayments

2,712

16,760

Other debtors

31,904

7,808

 

50,007

31,481

 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7,675

7,741

Trade creditors

 

30,874

10,621

Amounts owed to group undertakings and undertakings in which the company has a participating interest

36,737

900

Taxation and social security

 

4,276

3,387

Accruals and deferred income

 

4,170

12,537

Other creditors

 

10,139

45,640

 

93,871

80,826

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12,558

28,239

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Sheppard's Construction Limited

trading as Sheppards Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
(continued)

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,643 (2023 - £1,659). 'The company operates defined contribution schemes on behalf of its directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to these funds and amounted to £1,643.