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REGISTERED NUMBER: 09122194 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Sherrington Associates Ltd

Sherrington Associates Ltd (Registered number: 09122194)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sherrington Associates Ltd

Company Information
for the Year Ended 31 July 2024







Directors: R D McKay
J McKay





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 09122194 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Sherrington Associates Ltd (Registered number: 09122194)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 16,200 -
Tangible assets 5 15,711 20,125
31,911 20,125

Current assets
Debtors 6 26,522 29,505
Cash at bank 61,769 133,198
88,291 162,703
Creditors
Amounts falling due within one year 7 29,326 43,582
Net current assets 58,965 119,121
Total assets less current liabilities 90,876 139,246

Provisions for liabilities 8 7,978 5,031
Net assets 82,898 134,215

Capital and reserves
Called up share capital 9 100 100
Retained earnings 82,798 134,115
Shareholders' funds 82,898 134,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Sherrington Associates Ltd (Registered number: 09122194)

Statement of Financial Position - continued
31 July 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 13 January 2025 and were signed on its behalf by:





R D McKay - Director


Sherrington Associates Ltd (Registered number: 09122194)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. Statutory information

Sherrington Associates 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.

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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

Website costs is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on cost
Motor vehicles - 20% on cost

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 statement of financial position date.


Sherrington Associates Ltd (Registered number: 09122194)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 3 (2023 - 3 ) .

4. Intangible fixed assets
Website
costs
£   
Cost
Additions 20,250
At 31 July 2024 20,250
Amortisation
Amortisation for year 4,050
At 31 July 2024 4,050
Net book value
At 31 July 2024 16,200

Sherrington Associates Ltd (Registered number: 09122194)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. Tangible fixed assets
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
Cost
At 1 August 2023 41,275 27,595 68,870
Additions 250 - 250
At 31 July 2024 41,525 27,595 69,120
Depreciation
At 1 August 2023 21,150 27,595 48,745
Charge for year 4,664 - 4,664
At 31 July 2024 25,814 27,595 53,409
Net book value
At 31 July 2024 15,711 - 15,711
At 31 July 2023 20,125 - 20,125

6. Debtors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Other debtors 26,522 29,505

7. Creditors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Taxation and social security 27,676 42,007
Other creditors 1,650 1,575
29,326 43,582

8. Provisions for liabilities
31/7/24 31/7/23
£    £   
Deferred tax
Accelerated capital allowances 7,978 5,031

Sherrington Associates Ltd (Registered number: 09122194)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 August 2023 5,031
Charge to Statement of Income and Retained Earnings
during year

2,947
Balance at 31 July 2024 7,978

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/24 31/7/23
value: £    £   
70 A Ordinary shares £1 70 70
30 B Ordinary shares £1 30 30
100 100

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31/7/24 31/7/23
£    £   
R D McKay and J McKay
Balance outstanding at start of year 22,036 -
Amounts advanced 19,573 24,063
Amounts repaid (23,834 ) (2,027 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,775 22,036

The maximum overdrawn balance during the year was £29,009. Advances include £5,995 on 12 September 2023, £6,000 on 29 February 2024 and £6,000 on 28 March 2024. Repayments include £22,500 on 27 November 2023. Advances to the directors are unsecured, interest free and repayable on demand.