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REGISTERED NUMBER: 00595929 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SHEPHARD AND WILSON LIMITED

SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHEPHARD AND WILSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: I S Shephard





REGISTERED OFFICE: The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY





REGISTERED NUMBER: 00595929 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,071 6,290

CURRENT ASSETS
Stocks 44,600 34,550
Debtors 5 18,432 23,314
Cash at bank and in hand 100 5,240
63,132 63,104
CREDITORS
Amounts falling due within one year 6 254,492 255,604
NET CURRENT LIABILITIES (191,360 ) (192,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(185,289

)

(186,210

)

CAPITAL AND RESERVES
Called up share capital 7 5,200 5,200
Retained earnings 8 (190,489 ) (191,410 )
SHAREHOLDERS' FUNDS (185,289 ) (186,210 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





I S Shephard - Director


SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Shephard and Wilson 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. ACCOUNTING POLICIES

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

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade 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. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 2,006 24,433 1,138
Additions - - 328
At 31 December 2023 2,006 24,433 1,466
DEPRECIATION
At 1 January 2023 - 21,716 633
Charge for year - 408 125
At 31 December 2023 - 22,124 758
NET BOOK VALUE
At 31 December 2023 2,006 2,309 708
At 31 December 2022 2,006 2,717 505

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 21,000 1,001 49,578
Additions - 337 665
At 31 December 2023 21,000 1,338 50,243
DEPRECIATION
At 1 January 2023 20,295 644 43,288
Charge for year 177 174 884
At 31 December 2023 20,472 818 44,172
NET BOOK VALUE
At 31 December 2023 528 520 6,071
At 31 December 2022 705 357 6,290

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,074 16,878
Directors' current accounts - 5,750
VAT - 148
Prepayments 358 538
18,432 23,314

SHEPHARD AND WILSON LIMITED (REGISTERED NUMBER: 00595929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,345 -
Other loans 50,490 50,490
Trade creditors 65,376 71,832
Social security and other taxes 2,265 1,315
VAT 1,098 -
Other creditors 129,742 129,742
Directors' current accounts 26 -
Accrued expenses 3,150 2,225
254,492 255,604

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,200 Ordinary £1 5,200 5,200

8. RESERVES
Retained
earnings
£   

At 1 January 2023 (191,410 )
Profit for the year 921
At 31 December 2023 (190,489 )

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
P K Shephard and I S Shephard
Balance outstanding at start of year 5,750 (4,687 )
Amounts advanced 186 10,437
Amounts repaid (5,962 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26 ) 5,750

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I S Shephard.