Registered number
11913588
SHERLOCK SHAVES LTD
Filleted Accounts
31 March 2024
SHERLOCK SHAVES LTD
Registered number: 11913588
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 45,196 56,495
Current assets
Stocks 1,060 5,560
Debtors 4 30,233 19,464
Cash at bank and in hand 14,960 35,561
46,253 60,585
Creditors: amounts falling due within one year 5 (46,513) (74,576)
Net current liabilities (260) (13,991)
Total assets less current liabilities 44,936 42,504
Creditors: amounts falling due after more than one year 6 (34,259) (37,755)
Net assets 10,677 4,749
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,577 4,649
Shareholder's funds 10,677 4,749
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mehmet Yalcinkaya
Director
Approved by the board on 3 December 2024
SHERLOCK SHAVES LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 79,570
At 31 March 2024 79,570
Depreciation
At 1 April 2023 23,075
Charge for the year 11,299
At 31 March 2024 34,374
Net book value
At 31 March 2024 45,196
At 31 March 2023 56,495
4 Debtors 2024 2023
£ £
Other debtors 30,233 19,464
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 33,241 44,295
Taxation and social security costs 11,838 28,845
Other creditors 1,434 1,436
46,513 74,576
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,259 37,755
7 Other information
SHERLOCK SHAVES LTD is a private company limited by shares and incorporated in England. Its registered office is:
9 Melcombe Street
Baker Street
London
UK
NW1 6AE
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