Sharman Accountancy Limited |
Registered number: |
10063859 |
Balance Sheet as at 31 May 2024 |
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
18,510 |
|
|
21,146 |
Tangible assets |
4 |
|
|
309 |
|
|
1 |
|
|
|
|
18,819 |
|
|
21,147 |
Current assets |
Debtors |
5 |
|
10,723 |
|
|
16,538 |
Cash at bank and in hand |
|
|
21,886 |
|
|
20,869 |
|
|
|
32,609 |
|
|
37,407 |
Creditors: amounts falling due within one year |
6 |
|
(19,571) |
|
|
(10,440) |
Net current assets |
|
|
|
13,038 |
|
|
26,967 |
Total assets less current liabilities |
|
|
|
31,857 |
|
|
48,114 |
Creditors: amounts falling due after one year |
7 |
|
|
(2,200) |
|
|
(4,400) |
|
Net assets |
|
|
|
29,657 |
|
|
43,714 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
29,557 |
|
|
43,614 |
Shareholders' funds |
|
|
|
29,657 |
|
|
43,714 |
|
|
|
|
|
|
|
|
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 members have 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 N.W. Sharman |
Director |
Approved by the board on 13 February 2025 |
|
Sharman Accountancy Limited |
Notes to the Accounts |
for the year ended 31 May 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). |
|
|
Going concern |
|
The director believes the company is experiencing healthy levels of sales and profitability and that it is well placed to manage its business risks successfully. Accordingly he has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years. |
|
|
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and Equipment |
3 years straight line basis |
|
|
Work in progress |
|
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. |
|
|
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
Taxation (continued) |
|
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
Average number of persons employed by the |
|
company (including director) during the year |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill |
|
Cost |
|
At 1 June 2023 |
39,550 |
|
At 31 May 2024 |
39,550 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 June 2023 |
18,404 |
|
Provided during the year |
2,636 |
|
At 31 May 2024 |
21,040 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2024 |
18,510 |
|
At 31 May 2023 |
21,146 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant & Equipment |
£ |
|
Cost |
|
At 1 June 2023 |
1,413 |
|
Additions |
465 |
|
Disposals |
(251) |
|
At 31 May 2024 |
1,627 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2023 |
1,412 |
|
Charge for the year |
157 |
|
On disposals |
(251) |
|
At 31 May 2024 |
1,318 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2024 |
309 |
|
At 31 May 2023 |
1 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
Trade debtors |
2,320 |
|
7,280 |
|
Amounts recoverable on contracts |
|
|
|
6,812 |
|
7,928 |
|
Prepayments |
1,591 |
|
1,330 |
|
|
|
|
|
|
10,723 |
|
16,538 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
Bank loan |
2,200 |
|
2,200 |
|
Trade creditors |
2,862 |
|
2,974 |
|
Taxes and social security costs |
3,207 |
|
3,559 |
|
Other creditors |
10,004 |
|
487 |
|
Accruals |
1,298 |
|
1,220 |
|
|
|
|
|
|
19,571 |
|
10,440 |
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loan |
2,200 |
|
4,400 |
|
|
|
|
|
|
|
|
|
|
The bank loan carries a commercial rate of interest and therefore has a carrying amount equivalent to its fair value. |
|
8 |
Other information |
|
Sharman Accountancy Limited is a private company limited by shares and incorporated in England. Its registered office is : 48 Western Road, Cowlersley, Huddersfield, West Yorkshire, HD4 5TH. |
|
The financial statements are presented in Sterling, which is the functional currency of the company. |