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Registered number: 11608344
Sharman Investment Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Eliott Betts & Lili Huang TA TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11608344
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,150 32,473
Tangible Assets 5 43,988 526,344
Investments 6 50 1,090
66,188 559,907
CURRENT ASSETS
Debtors 7 429,319 361,487
Cash at bank and in hand 110,566 9,805
539,885 371,292
Creditors: Amounts Falling Due Within One Year 8 (63,731 ) (128,683 )
NET CURRENT ASSETS (LIABILITIES) 476,154 242,609
TOTAL ASSETS LESS CURRENT LIABILITIES 542,342 802,516
Creditors: Amounts Falling Due After More Than One Year 9 - (37,750 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,765 ) (118,574 )
NET ASSETS 534,577 646,192
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 534,567 646,182
SHAREHOLDERS' FUNDS 534,577 646,192
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Christopher Sharman
Director
30 September 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
Sharman Investment Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11608344 . The registered office is 34-35 King Street, Sudbury, Suffolk, CO10 2EQ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 4 years.
2.4. 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:
Plant & Machinery 25% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 25% RBM
Computer Equipment 25% RBM
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 59,861
Additions 4,141
As at 31 March 2024 64,002
Amortisation
As at 1 April 2023 27,388
Provided during the period 14,464
As at 31 March 2024 41,852
Net Book Value
As at 31 March 2024 22,150
As at 1 April 2023 32,473
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 50,659 46,352 747,753 49,393 894,157
Additions - - 1,426 967 2,393
Disposals (38,934 ) (46,352 ) (644,734 ) (46,956 ) (776,976 )
As at 31 March 2024 11,725 - 104,445 3,404 119,574
Depreciation
As at 1 April 2023 12,665 11,588 322,490 21,070 367,813
Provided during the period 2,179 - 10,884 462 13,525
Disposals (9,734 ) (11,588 ) (264,914 ) (19,516 ) (305,752 )
As at 31 March 2024 5,110 - 68,460 2,016 75,586
Net Book Value
As at 31 March 2024 6,615 - 35,985 1,388 43,988
As at 1 April 2023 37,994 34,764 425,263 28,323 526,344
Page 4
Page 5
6. Investments
Unlisted
£
Cost
As at 1 April 2023 1,090
Disposals (1,040 )
As at 31 March 2024 50
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 50
As at 1 April 2023 1,090
7. Debtors
2024 2023
£ £
Due within one year
VAT 4 2
Director's loan account - 15,000
Amounts owed by group undertakings 429,315 346,485
429,319 361,487
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 54,613 7,359
Accruals and deferred income 2,500 2,640
Director's loan account 6,618 -
Amounts owed to group undertakings - 118,684
63,731 128,683
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 37,750
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5
Page 6
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Christopher Sharman 15,000 316,441 338,059 - (6,618 )
Page 6