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Company Registration No. 10767421 (England and Wales)
Sherry Homes Ltd Unaudited accounts for the year ended 31 May 2024
Sherry Homes Ltd Unaudited accounts Contents
Page
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Sherry Homes Ltd Company Information for the year ended 31 May 2024
Director
Lee Sherry
Company Number
10767421 (England and Wales)
Registered Office
56 Chatsworth Road Southampton SO19 7NJ United Kingdom
Accountants
Taxsense 203 West Street Fareham Hants PO16 0EN
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Sherry Homes Ltd Accountants' report
Accountants' report to the director of Sherry Homes Ltd on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sherry Homes Ltd for the year ended 31 May 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sherry Homes Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sherry Homes Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sherry Homes Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sherry Homes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Sherry Homes Ltd. You consider that Sherry Homes Ltd 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 accounts of Sherry Homes Ltd. 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 accounts.
Taxsense 203 West Street Fareham Hants PO16 0EN 23 December 2024
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Sherry Homes Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
766,155 
783,575 
Current assets
Debtors
325 
458 
Cash at bank and in hand
6,299 
15,895 
6,624 
16,353 
Creditors: amounts falling due within one year
(167,754)
(191,302)
Net current liabilities
(161,130)
(174,949)
Total assets less current liabilities
605,025 
608,626 
Creditors: amounts falling due after more than one year
(544,381)
(544,381)
Net assets
60,644 
64,245 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
127,475 
127,475 
Profit and loss account
(66,832)
(63,231)
Shareholders' funds
60,644 
64,245 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Lee Sherry Director Company Registration No. 10767421
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Sherry Homes Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Sherry Homes Ltd is a private company, limited by shares, registered in England and Wales, registration number 10767421. The registered office is 56 Chatsworth Road, Southampton, SO19 7NJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Fixtures & fittings
25% Reducing Balance
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
854,548 
5,430 
859,978 
At 31 May 2024
854,548 
5,430 
859,978 
Depreciation
At 1 June 2023
72,291 
4,112 
76,403 
Charge for the year
17,091 
329 
17,420 
At 31 May 2024
89,382 
4,441 
93,823 
Net book value
At 31 May 2024
765,166 
989 
766,155 
At 31 May 2023
782,257 
1,318 
783,575 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
133 
Other debtors
325 
325 
325 
458 
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Sherry Homes Ltd Notes to the Accounts for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,167 
6,167 
Taxes and social security
3,305 
420 
Other creditors
2,800 
2,800 
Loans from directors
157,364 
181,915 
Accruals
118 
- 
167,754 
191,302 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
544,381 
544,381 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Lee Sherry
Directors Loan Account
(181,915)
(1,439)
(25,990)
(157,364)
(181,915)
(1,439)
(25,990)
(157,364)
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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