Sherwinco 100 Limited Filleted Accounts Cover
Sherwinco 100 Limited
Company No. 08863499
Information for Filing with The Registrar
31 March 2024
Sherwinco 100 Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was lending of money in the form of secured and unsecured loans.
Director
The Director who served at any time during the year was as follows:
Craig Sherwin
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Craig Sherwin
Director
18 November 2024
Sherwinco 100 Limited Balance Sheet Registrar
at
31 March 2024
Company No.
08863499
Notes
2024
2023
£
£
Fixed assets
Investments
4
1515
1515
Current assets
Debtors
5
194,965181,085
Cash at bank and in hand
12,53446,882
207,499227,967
Creditors: Amount falling due within one year
6
(1,087)
(1,359)
Net current assets
206,412226,608
Total assets less current liabilities
206,427226,623
Net assets
206,427226,623
Capital and reserves
Called up share capital
3030
Profit and loss account
8
206,397226,593
Total equity
206,427226,623
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 18 November 2024 and signed on its behalf by:
Craig Sherwin
Director
18 November 2024
Sherwinco 100 Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Sherwinco 100 Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08863499
Its registered office is:
C17 Kestrel Business Centre
Colwick Industrial Estate
Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director is not aware of any material threats which might affect the ability of the company to continue as a going concern for the foreseeable future.
2
Accounting policies
Turnover
Turnover is the fair value of interest arising in the period on loans made by the company.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investments
Other investments
Total
£
£
Cost or valuation
At 1 April 2023
15
15
At 31 March 2024
15
15
Provisions/Impairment
Net book values
At 31 March 2024
15
15
At 31 March 2023
15
15
5
Debtors
2024
2023
£
£
Trade debtors
194,965181,085
194,965181,085
Amounts included within Other debtors that fall due after more than one year
-4,725
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
1,043
1,315
Loans from directors
4444
1,0871,359
7
Share Capital
Share capital consists of 30 Ordinary Shares of £1 each, which are fully paid.
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Related party transactions
The company has made loans to the director as follows:
The loans have variable repayment terms but all are secured and bear interest at a commercial rate.
The balance of loans outstanding at 31 March 2024 was £190,240 (2023 £174,740).
The company has also made loans to a company controlled by the director.
These loans are repayable over a period ending during the financial year ending 31 March 2024.
The amount due at 31 March 2024 was £4,725 (2023 £6,345).
The loans are unsecured and bear interest at a commercial rate.
10
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
63,600
63,600
63,600
63,600
Dividends by type:
Equity dividends
63,60063,600
63,600
63,600
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