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REGISTERED NUMBER: 00455751 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Matthew Sheard & Son Limited

Matthew Sheard & Son Limited (Registered number: 00455751)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Matthew Sheard & Son Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D Sheard
J Sheard





REGISTERED OFFICE: Russell Chambers
61A North Street
Keighley
West Yorkshire
BD21 3DS





REGISTERED NUMBER: 00455751 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
BD21 3DS

Matthew Sheard & Son Limited (Registered number: 00455751)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 15,594 13,003
15,594 13,003

CURRENT ASSETS
Stocks 7 60,985 54,159
Debtors 8 33,690 26,533
Cash at bank and in hand 30,002 25,338
124,677 106,030
CREDITORS
Amounts falling due within one year 9 (44,002 ) (16,313 )
NET CURRENT ASSETS 80,675 89,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,269

102,720

PROVISIONS FOR LIABILITIES (653 ) (862 )
NET ASSETS 95,616 101,858

CAPITAL AND RESERVES
Called up share capital 10 6,000 6,000
Retained earnings 89,616 95,858
SHAREHOLDERS' FUNDS 95,616 101,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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.

Matthew Sheard & Son Limited (Registered number: 00455751)

Statement of Financial Position - continued
30 June 2024



The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





D Sheard - Director


Matthew Sheard & Son Limited (Registered number: 00455751)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Matthew Sheard & Son Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of client lists in 2005, is being amortised evenly over its estimated useful life of 5 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Matthew Sheard & Son Limited (Registered number: 00455751)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 3,600
AMORTISATION
At 1 July 2023
and 30 June 2024 3,600
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

6. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 11,533 30,883 43,243 2,885 88,544
Additions 4,000 - - - 4,000
At 30 June 2024 15,533 30,883 43,243 2,885 92,544
DEPRECIATION
At 1 July 2023 3,067 27,035 43,243 2,196 75,541
Charge for year 311 960 - 138 1,409
At 30 June 2024 3,378 27,995 43,243 2,334 76,950
NET BOOK VALUE
At 30 June 2024 12,155 2,888 - 551 15,594
At 30 June 2023 8,466 3,848 - 689 13,003

Matthew Sheard & Son Limited (Registered number: 00455751)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. STOCKS
30.6.24 30.6.23
£    £   
Stocks for resale 60,985 54,159

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 13,750 9,109
Other debtors 19,940 17,424
33,690 26,533

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 14,728 232
Tax 3,274 (2,988 )
Directors' current accounts 21,000 14,094
Accruals and deferred income 5,000 4,975
44,002 16,313

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
6,000 Ordinary £1 6,000 6,000

11. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of their shareholdings.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Matthew Sheard & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Matthew Sheard & Son Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Matthew Sheard & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Matthew Sheard & Son Limited and state those matters that we have agreed to state to the Board of Directors of Matthew Sheard & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matthew Sheard & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Matthew Sheard & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Matthew Sheard & Son Limited. You consider that Matthew Sheard & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Matthew Sheard & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
BD21 3DS


23 January 2025