0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-30 Sage Accounts Production Advanced 2023 - FRS102_2023 1,066 464 107 571 495 602 3,550 3,100 450 3,550 450 xbrli:pure xbrli:shares iso4217:GBP 10468015 2022-11-30 2023-11-28 10468015 2023-11-28 10468015 2022-11-29 10468015 2021-11-30 2022-11-29 10468015 2022-11-29 10468015 2021-11-29 10468015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 2023-11-28 10468015 bus:Director1 2022-11-30 2023-11-28 10468015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-29 10468015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-28 10468015 core:AfterOneYear 2023-11-28 10468015 core:AfterOneYear 2022-11-29 10468015 core:WithinOneYear 2023-11-28 10468015 core:WithinOneYear 2022-11-29 10468015 core:ShareCapital 2023-11-28 10468015 core:ShareCapital 2022-11-29 10468015 core:RetainedEarningsAccumulatedLosses 2023-11-28 10468015 core:RetainedEarningsAccumulatedLosses 2022-11-29 10468015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-29 10468015 bus:SmallEntities 2022-11-30 2023-11-28 10468015 bus:AuditExemptWithAccountantsReport 2022-11-30 2023-11-28 10468015 bus:SmallCompaniesRegimeForAccounts 2022-11-30 2023-11-28 10468015 bus:PrivateLimitedCompanyLtd 2022-11-30 2023-11-28 10468015 bus:FullAccounts 2022-11-30 2023-11-28 10468015 core:ComputerEquipment 2022-11-30 2023-11-28 10468015 core:ComputerEquipment 2023-11-28 10468015 core:ComputerEquipment 2022-11-29
COMPANY REGISTRATION NUMBER: 10468015
SHEERFORM LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
28 November 2023
SHEERFORM LTD.
STATEMENT OF FINANCIAL POSITION
28 November 2023
28 Nov 23
29 Nov 22
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
495
602
Tangible assets
5
450
----
-------
495
1,052
CURRENT ASSETS
Stocks
68,459
72,359
Debtors
6
181,745
184,902
Cash at bank and in hand
573
8,573
---------
---------
250,777
265,834
CREDITORS: amounts falling due within one year
7
( 331,825)
( 334,092)
---------
---------
NET CURRENT LIABILITIES
( 81,048)
( 68,258)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 80,553)
( 67,206)
CREDITORS: amounts falling due after more than one year
8
( 38,214)
( 39,958)
---------
---------
NET LIABILITIES
( 118,767)
( 107,164)
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 118,867)
( 107,264)
---------
---------
SHAREHOLDERS DEFICIT
( 118,767)
( 107,164)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SHEERFORM LTD.
STATEMENT OF FINANCIAL POSITION (continued)
28 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
R Anand
Director
Company registration number: 10468015
SHEERFORM LTD.
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 30 NOVEMBER 2022 TO 28 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, LS1 4DJ, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademarks
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer software
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. INTANGIBLE ASSETS
Trademarks
£
Cost
At 30 November 2022 and 28 November 2023
1,066
-------
Amortisation
At 30 November 2022
464
Charge for the period
107
-------
At 28 November 2023
571
-------
Carrying amount
At 28 November 2023
495
-------
At 29 November 2022
602
-------
5. TANGIBLE ASSETS
Computer Software
£
Cost
At 30 November 2022 and 28 November 2023
3,550
-------
Depreciation
At 30 November 2022
3,100
Charge for the period
450
-------
At 28 November 2023
3,550
-------
Carrying amount
At 28 November 2023
-------
At 29 November 2022
450
-------
6. DEBTORS
28 Nov 23
29 Nov 22
£
£
Trade debtors
3,157
Other debtors
181,745
181,745
---------
---------
181,745
184,902
---------
---------
7. CREDITORS: amounts falling due within one year
28 Nov 23
29 Nov 22
£
£
Trade creditors
5,731
2,011
Social security and other taxes
74,406
75,364
Amounts due to related companies
250,938
255,113
Other creditors
750
1,604
---------
---------
331,825
334,092
---------
---------
8. CREDITORS: amounts falling due after more than one year
28 Nov 23
29 Nov 22
£
£
Bank loans and overdrafts
38,214
39,958
--------
--------