Sherborne House Enterprises Limited 13270147 false 2023-07-01 2024-03-31 2024-03-31 The principal activity of the company is operation of hospitality and recreation activities on behalf of Sherborne House Trust 2018 Digita Accounts Production Advanced 6.30.9574.0 true true 13270147 2023-07-01 2024-03-31 13270147 2024-03-31 13270147 core:RetainedEarningsAccumulatedLosses 2024-03-31 13270147 core:ShareCapital 2024-03-31 13270147 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13270147 bus:SmallEntities 2023-07-01 2024-03-31 13270147 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-03-31 13270147 bus:FullAccounts 2023-07-01 2024-03-31 13270147 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-03-31 13270147 bus:RegisteredOffice 2023-07-01 2024-03-31 13270147 bus:Director4 2023-07-01 2024-03-31 13270147 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-03-31 13270147 countries:EnglandWales 2023-07-01 2024-03-31 13270147 2022-04-01 2023-06-30 13270147 2023-06-30 13270147 core:RetainedEarningsAccumulatedLosses 2023-06-30 13270147 core:ShareCapital 2023-06-30 13270147 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Company registration number: 13270147

Sherborne House Enterprises Limited

Filleted Annual Report and Unaudited Financial Statements

for the Period from 1 July 2023 to 31 March 2024

 

Sherborne House Enterprises Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Sherborne House Enterprises Limited

(Registration number: 13270147)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

6,707

-

Debtors

5

76,065

43,312

Cash at bank and in hand

 

4,094

100

 

86,866

43,412

Creditors: Amounts falling due within one year

6

(367,277)

(81,426)

Net liabilities

 

(280,411)

(38,014)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(280,511)

(38,114)

Total equity

 

(280,411)

(38,014)

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 


C J Mitchell
Director

   
 

Sherborne House Enterprises Limited

Notes to the Unaudited Financial Statements
for the Period from 1 July 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Albert Goodman LLP
Lupin Way
Yeovil
Somerset
BA22 8WW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis. Whilst the company has net current liabilities at the year end date, this is due to a balance owed to the parent charity, which is providing support and financial commitment to the company until such time as it is operational.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Sherborne House Enterprises Limited

Notes to the Unaudited Financial Statements
for the Period from 1 July 2023 to 31 March 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Reserves

Called up share capital represents the nominal value of shares that have been issued.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 

Sherborne House Enterprises Limited

Notes to the Unaudited Financial Statements
for the Period from 1 July 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 5 (2023 - 4).

4

Stocks

2024
£

2023
£

Other stocks

6,707

-

5

Debtors

Current

2024
£

2023
£

Prepayments

62,995

36,491

Other debtors

13,070

6,821

 

76,065

43,312

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

11,586

17,709

Amounts owed to group undertakings and undertakings in which the company has a participating interest

323,590

58,862

Taxation and social security

 

7,923

-

Accruals and deferred income

 

3,482

4,598

Other creditors

 

20,696

257

 

367,277

81,426