Company registration number 01725179 (England and Wales)
SHELDON (FUNERAL SERVICES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
SHELDON (FUNERAL SERVICES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
SHELDON (FUNERAL SERVICES) LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
72,291
26,858
Investment property
4
480,000
440,000
552,291
466,858
Current assets
Stocks
5,500
5,250
Debtors
5
454,579
362,612
Cash at bank and in hand
184
15,183
460,263
383,045
Creditors: amounts falling due within one year
6
(178,025)
(134,954)
Net current assets
282,238
248,091
Total assets less current liabilities
834,529
714,949
Creditors: amounts falling due after more than one year
7
(195,381)
(173,725)
Net assets
639,148
541,224
Capital and reserves
Called up share capital
1,010
1,010
Profit and loss reserves
638,138
540,214
Total equity
639,148
541,224

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SHELDON (FUNERAL SERVICES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 November 2024 and are signed on its behalf by:
Mr G R Sheldon
Director
Company registration number 01725179 (England and Wales)
SHELDON (FUNERAL SERVICES) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2022
1,010
497,116
498,126
Year ended 28 February 2023:
Profit and total comprehensive income
-
53,898
53,898
Dividends
-
(10,800)
(10,800)
Balance at 28 February 2023
1,010
540,214
541,224
Year ended 29 February 2024:
Profit and total comprehensive income
-
99,924
99,924
Dividends
-
(2,000)
(2,000)
Balance at 29 February 2024
1,010
638,138
639,148
SHELDON (FUNERAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
1
Accounting policies
Company information

Sheldon (Funeral Services) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 Salthouse Road, MILLOM, Cumbria, LA18 5AS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Plant and machinery
10% straight line
Fixtures, fittings & equipment
10% straight line
Computer equipment
33% straight line
Motor vehicles
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

SHELDON (FUNERAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Equity instruments
1.7
Taxation

The tax expense represents the tax currently payable. Deferred tax is not provided.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.9
Retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held seperately from those of the company. The annual contributions payable are charged to the profit and loss account.
1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
9
SHELDON (FUNERAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2023
4,000
138,385
142,385
Additions
-
0
60,294
60,294
Disposals
-
0
(15,275)
(15,275)
At 29 February 2024
4,000
183,404
187,404
Depreciation and impairment
At 1 March 2023
1,200
114,327
115,527
Depreciation charged in the year
400
14,461
14,861
Eliminated in respect of disposals
-
0
(15,275)
(15,275)
At 29 February 2024
1,600
113,513
115,113
Carrying amount
At 29 February 2024
2,400
69,891
72,291
At 28 February 2023
2,800
24,058
26,858
4
Investment property
2024
£
Fair value
At 1 March 2023
440,000
Revaluations
40,000
At 29 February 2024
480,000

The fair value of the investment is based on directors' valuation. The directors consider that the 28 February 2023 valuations are unchanged from those made for 28 February 2022.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,238
37,915
Corporation tax recoverable
-
0
863
Other debtors
415,341
323,834
454,579
362,612
SHELDON (FUNERAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
32,368
54,322
Trade creditors
99,553
43,483
Corporation tax
2,203
14,023
Other taxation and social security
1,596
1,422
Other creditors
42,305
21,704
178,025
134,954
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
152,863
162,100
Other creditors
42,518
11,625
195,381
173,725
8
Related party transactions

Other debtors include an amount of £372,730 due from connected companies. No interest has been charged.

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