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REGISTERED NUMBER: 08886850 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

SHERPA ENVIRONMENTAL LTD

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHERPA ENVIRONMENTAL LTD

COMPANY INFORMATION
for the Year Ended 28 February 2024







DIRECTORS: Mr B J Parr
Mr A S Shepherd





REGISTERED OFFICE: Fountain Court
2 Victoria Square
St. Albans
Hertfordshire
AL1 3TF





REGISTERED NUMBER: 08886850 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

BALANCE SHEET
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 105,876 556
Investments 6 50,000 50,000
155,876 50,556

CURRENT ASSETS
Debtors 7 174,962 187,253
Cash at bank and in hand 35,588 85,641
210,550 272,894
CREDITORS
Amounts falling due within one year 8 102,022 100,056
NET CURRENT ASSETS 108,528 172,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,404

223,394

CREDITORS
Amounts falling due after more than one
year

9

(95,548

)

(22,501

)

PROVISIONS FOR LIABILITIES 10 (21,853 ) -
NET ASSETS 147,003 200,893

CAPITAL AND RESERVES
Called up share capital 11 200 100
Retained earnings 146,803 200,793
SHAREHOLDERS' FUNDS 147,003 200,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

BALANCE SHEET - continued
28 February 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 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 22 November 2024 and were signed on its behalf by:





Mr A S Shepherd - Director


SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Sherpa Environmental Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 10,000
AMORTISATION
At 1 March 2023
and 28 February 2024 10,000
NET BOOK VALUE
At 28 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 4,038 28,231 - 32,269
Additions 107,159 - - 718 107,877
Disposals - (3,297 ) (28,231 ) - (31,528 )
At 28 February 2024 107,159 741 - 718 108,618
DEPRECIATION
At 1 March 2023 - 3,482 28,231 - 31,713
Charge for year 2,232 247 - 78 2,557
Eliminated on disposal - (3,297 ) (28,231 ) - (31,528 )
At 28 February 2024 2,232 432 - 78 2,742
NET BOOK VALUE
At 28 February 2024 104,927 309 - 640 105,876
At 28 February 2023 - 556 - - 556

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 28 February 2024 50,000
NET BOOK VALUE
At 28 February 2024 50,000
At 28 February 2023 50,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 168,337 186,743
Other debtors 6,625 -
Prepayments and accrued income - 510
174,962 187,253

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 18,872 -
Trade creditors 9,696 -
Taxation - 20,905
Social security and other taxes - 7,933
Value added tax 31,273 26,713
Other creditors 28,175 22,264
Directors' current accounts 104 9,435
Accruals 3,902 2,806
102,022 100,056

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,502 12,501
Hire purchase contracts 83,046 -
95,548 22,501

10. PROVISIONS FOR LIABILITIES
28.2.24 28.2.23
£    £   
Deferred tax
Accelerated capital allowances 21,853 -

SHERPA ENVIRONMENTAL LTD (REGISTERED NUMBER: 08886850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 21,853
Balance at 28 February 2024 21,853

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100
100 Ordinary B £1 100 -
200 100

100 Ordinary B shares of £1 each were allotted and fully paid for cash at par during the year.