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REGISTERED NUMBER: 06333002 (England and Wales)





















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Shervey Limited

Shervey Limited (Registered number: 06333002)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shervey Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: N S Meyer
Mrs S P Meyer
Mrs A P MacFarlane





SECRETARY: N S Meyer





REGISTERED OFFICE: First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN





BUSINESS ADDRESS: The Newgrange Residential Home
Cadmore Lane
Cheshunt
Hertfordshire
EN8 9JX





REGISTERED NUMBER: 06333002 (England and Wales)





ACCOUNTANTS: Mark Ward Chartered Certified Accountants
First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN

Shervey Limited (Registered number: 06333002)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,566 43,421
Investments 5 1 3
32,567 43,424

CURRENT ASSETS
Debtors 6 3,814,964 3,780,385
Cash at bank 37,587 76,724
3,852,551 3,857,109
CREDITORS
Amounts falling due within one year 7 153,333 126,826
NET CURRENT ASSETS 3,699,218 3,730,283
TOTAL ASSETS LESS CURRENT LIABILITIES 3,731,785 3,773,707

CREDITORS
Amounts falling due after more than one
year

8

1,516,791

1,610,536
NET ASSETS 2,214,994 2,163,171

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Capital redemption reserve 25,000 25,000
Retained earnings 2,164,994 2,113,171
SHAREHOLDERS' FUNDS 2,214,994 2,163,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Shervey Limited (Registered number: 06333002)

Balance Sheet - continued
31 August 2024


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 Board of Directors and authorised for issue on 26 October 2024 and were signed on its behalf by:





N S Meyer - Director


Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Shervey 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Preparation of consolidated financial statements
The financial statements contain information about Shervey Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds the following financial instruments:

- Short term trade and other debtors and creditors;
- Bank loans; and
- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 3 ) .

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 57,895
DEPRECIATION
At 1 September 2023 14,474
Charge for year 10,855
At 31 August 2024 25,329
NET BOOK VALUE
At 31 August 2024 32,566
At 31 August 2023 43,421

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 57,895
DEPRECIATION
At 1 September 2023 14,474
Charge for year 10,855
At 31 August 2024 25,329
NET BOOK VALUE
At 31 August 2024 32,566
At 31 August 2023 43,421

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023 3
Disposals (2 )
At 31 August 2024 1
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 3

6. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Other debtors 569,906 449,546

Amounts falling due after more than one year:
Amounts owed by group undertakings 3,245,058 3,330,839

Aggregate amounts 3,814,964 3,780,385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 9) 89,178 83,042
Hire purchase contracts 5,255 5,255
Taxation and social security 30,721 231
Other creditors 28,179 38,298
153,333 126,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 1,479,843 1,568,334
Hire purchase contracts 36,948 42,202
1,516,791 1,610,536

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.24 31.8.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,074,064 1,189,011

9. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 89,178 83,042

Amounts falling due between one and two years:
Bank loans - 1-2 years 93,835 87,511

Amounts falling due between two and five years:
Bank loans - 2-5 years 311,944 291,812

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,074,064 1,189,011

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 1,569,021 1,651,376

Bank loans and overdrafts are secured by charges over freehold property owned by the group and over all other assets of the group and a personal guarantee of the directors.

Shervey Limited (Registered number: 06333002)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


11. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
N S Meyer and Mrs S P Meyer
Balance outstanding at start of year 338,899 498,899
Amounts repaid - (160,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 338,899 338,899

Mrs A P MacFarlane
Balance outstanding at start of year - -
Amounts advanced 90,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,000 -