REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
Sherman Securities Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
Sherman Securities Limited |
Sherman Securities Limited (Registered number: 01201116) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Statement of Comprehensive Income | 3 |
Statement of Financial Position | 4 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
Sherman Securities Limited |
Company Information |
for the Year Ended 29 February 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chiswick Gate |
598- 608 Chiswick High Road |
London |
W4 5RT |
Sherman Securities Limited (Registered number: 01201116) |
Report of the Directors |
for the Year Ended 29 February 2024 |
The directors present their report with the financial statements of the company for the year ended 29 February 2024. |
Directors |
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
On behalf of the board: |
Sherman Securities Limited (Registered number: 01201116) |
Statement of Comprehensive Income |
for the Year Ended 29 February 2024 |
29.2.24 | 28.2.23 |
£ | £ |
Turnover |
Cost of sales | ( |
) | ( |
) |
Gross profit |
Administrative expenses | ( |
) | ( |
) |
334,595 | 327,012 |
Other operating income |
Operating profit |
Interest receivable and similar income |
Profit before taxation |
Tax on profit | ( |
) | ( |
) |
Profit for the financial year |
Other comprehensive income |
Investment properties |
Retained earnings - non distributable |
Income tax relating to other comprehensive income |
Other comprehensive income for the year, net of income tax |
Total comprehensive income for the year |
Sherman Securities Limited (Registered number: 01201116) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ |
Assets |
Fixed assets |
Tangible assets | 3 |
Investment properties | 4 |
Current assets |
Stocks |
Debtors | 5 |
Investments | 6 |
Cash at bank |
9,588,738 | 9,189,114 |
Capital, reserves and liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings - non |
distributable | 8 |
Retained earnings |
Shareholders' funds |
Creditors | 9 |
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. |
Sherman Securities Limited (Registered number: 01201116) |
Statement of Financial Position - continued |
29 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Sherman Securities Limited (Registered number: 01201116) |
Statement of Changes in Equity |
for the Year Ended 29 February 2024 |
Retained |
Called up | earnings |
share | Retained | - non | Total |
capital | earnings | distributable | equity |
£ | £ | £ | £ |
Balance at 1 March 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Revaluation reserve decrease | - | - | (4,400 | ) | (4,400 | ) |
Balance at 28 February 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Revaluation reserve increase | - | - | 30,550 | 30,550 |
Balance at 29 February 2024 |
Sherman Securities Limited (Registered number: 01201116) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | Accounting policies |
Basis of preparing the financial statements |
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 |
Motor vehicles | - |
Investment properties |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
2. | Employees and directors |
The average number of employees during the year was |
3. | Tangible fixed assets |
Motor |
vehicles |
£ |
Cost or valuation |
At 1 March 2023 |
and 29 February 2024 |
Depreciation |
At 1 March 2023 |
and 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
Cost or valuation at 29 February 2024 is represented by: |
Motor |
vehicles |
£ |
Cost | 7,000 |
Sherman Securities Limited (Registered number: 01201116) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | Investment properties |
Total |
£ |
Fair value |
At 1 March 2023 |
Revaluations | 30,550 |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
Investment properties were valued on an open market basis by D A Sherman FRICS. |
5. | Debtors: amounts falling due within one year |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Prepayments |
6. | Current asset investments |
29.2.24 | 28.2.23 |
£ | £ |
Gilts |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary A | £1 | 126 | 126 |
Ordinary B | £1 | 99 | 99 |
Ordinary C | £1 | 449 | 449 |
Ordinary D | £1 | 126 | 126 |
100 | Ordinary E | £1 | 100 | 100 |
100 | Ordinary F | £1 | 100 | 100 |
1,000 | 1,000 |
8. | Reserves |
Retained |
earnings |
- non |
distributable |
£ |
At 1 March 2023 |
Revaluation reserve increase | 30,550 |
At 29 February 2024 |
Sherman Securities Limited (Registered number: 01201116) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
9. | Creditors: amounts falling due within one year |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 6,316 | 6,463 |
Other creditors |
Directors' current accounts | 449,295 | 430,658 |
Accrued expenses |
10. | Related party disclosures |
Sherman Securities Limited had the following related party transactions with D A S Executive Pension Scheme which is a self-administered pension fund with the following as trustees and members: D A Sherman, E Sherman and S Hopkins. |
Sherman Securities Limited charged D A S Executive Pension Scheme £4,975 in respect of insurance premiums recharged. |