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REGISTERED NUMBER: 01501160 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED

S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 8,873

CURRENT ASSETS
Debtors 5 4,753 51,815
Cash at bank and in hand 9,729 7
14,482 51,822
CREDITORS
Amounts falling due within one year 6 35,804 69,812
NET CURRENT LIABILITIES (21,322 ) (17,990 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,322

)

(9,117

)

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (21,342 ) (9,137 )
SHAREHOLDERS' FUNDS (21,322 ) (9,117 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

BALANCE SHEET - continued
31 AUGUST 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





S W Sheppard - Director


S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

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


1. STATUTORY INFORMATION

S.W. Sheppard (Commercials) & Co. Limited is a private company, limited by shares, registered in England and Wales, registered number 01501160. Its registered office is Unit 20 Gainsborough Trading Estate, Rufford Road, Stourbridge, West Midlands, DY9 7ND.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

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

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 etc - 25% on cost and 10% on cost

Financial instruments
Basic financial liabilities, including trade and other debtors and creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

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


2. ACCOUNTING POLICIES - continued

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.

Going concern
The accounts have been drawn up on the going concern basis. The company's ongoing activities are dependent upon the continued financial support of its director and other loan creditors.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to reclassify fixed assets as current assets and to provide for any further liabilities that might arise.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 38,643
Disposals (7,956 )
At 31 August 2023 30,687
DEPRECIATION
At 1 September 2022 29,770
Charge for year 1,288
Eliminated on disposal (1,640 )
Impairments 1,269
At 31 August 2023 30,687
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 8,873

S.W. SHEPPARD (COMMERCIALS) & CO.
LIMITED (REGISTERED NUMBER: 01501160)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 3,689 36,560
Other debtors 1,064 15,255
4,753 51,815

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 2,698 7,517
Trade creditors 8,394 20,055
Taxation and social security 2,767 4,798
Other creditors 21,945 37,442
35,804 69,812

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 9,250 9,250

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Invoice discounting facility - 3,618

The invoice discounting facility is secured by way of fixed and floating charges over the assets of the company.