Registered number
11464687
Shephard & Co Ltd
Unaudited Filleted Accounts
31 July 2023
Shephard & Co Ltd
Registered number: 11464687
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,228 2,846
Current assets
Debtors 4 42,908 18,353
Cash at bank and in hand 119,778 90,961
162,686 109,314
Creditors: amounts falling due within one year 5 (80,521) (73,763)
Net current assets 82,165 35,551
Total assets less current liabilities 83,393 38,397
Provisions for liabilities (234) (541)
Net assets 83,159 37,856
Capital and reserves
Called up share capital 1 1
Profit and loss account 83,158 37,855
Shareholder's funds 83,159 37,856
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Chew
Director
Approved by the board on 17 October 2024
Shephard & Co Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 8,702
Additions 1,872
At 31 July 2023 10,574
Depreciation
At 1 August 2022 5,856
Charge for the year 3,490
At 31 July 2023 9,346
Net book value
At 31 July 2023 1,228
At 31 July 2022 2,846
4 Debtors 2023 2022
£ £
Trade debtors - 2,400
Other debtors 42,908 15,953
42,908 18,353
Other debtors relate to £42,908 (2022 - £15,953) due from the director of the company. The loan is unsecured interest free and was repaid after the year end.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 25,138 33,683
Trade creditors 3,258 9,097
Taxation and social security costs 33,776 21,208
Corporation tax 18,349 9,775
80,521 73,763
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Andrew Chew
Directors Loan Account 15,953 27,700 (745) 42,908
15,953 27,700 (745) 42,908
7 Related party transactions
Companoo Ltd
Common Shareholder and Director
Consultancy Fees 135,792
MSM Projects Ltd
Common Shareholder and Director
Computer software, consumables and maintenance 104,529
8 Controlling party
The controlling party is Mr A Chew by virtue of his ownership of 100% of the issued share capital of the company.
9 Other information
Shephard & Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Trinity House
114 Northenden Road
Sale
Manchester
M33 3HD
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