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REGISTERED NUMBER: 03989782 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SHEAF ENGINEERING SERVICES LIMITED

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHEAF ENGINEERING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr P Williams
Mr M J Griffiths
Mr S J Williams
Mr J P Williams



SECRETARY: Mr M J Griffiths



REGISTERED OFFICE: 245 Springwood Lane
High Green
Sheffield
South Yorkshire
S35 4JP



REGISTERED NUMBER: 03989782 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Barclays Bank Plc
10 - 18 Queen Street
Barnsley
South Yorkshire
S70 2AJ

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 15,574 8,169

CURRENT ASSETS
Stocks 5 233,348 178,050
Debtors 6 211,606 135,175
Cash at bank 294,963 499,289
739,917 812,514
CREDITORS
Amounts falling due within one year 7 101,802 74,139
NET CURRENT ASSETS 638,115 738,375
TOTAL ASSETS LESS CURRENT LIABILITIES 653,689 746,544

CAPITAL AND RESERVES
Called up share capital 8 558 558
Retained earnings 9 653,131 745,986
SHAREHOLDERS' FUNDS 653,689 746,544

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

BALANCE SHEET - continued
31 MAY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mr M J Griffiths - Director


SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Sheaf Engineering Services 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Income comprises charges to customers, net of VAT, for precision grinding services, general engineering services and welding fabrication.

When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Loose tools - 50% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 100% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Loose tools vehicles equipment Totals
£ £ £ £ £
COST
At 1 June 2023 111,408 14,253 9,250 4,290 139,201
Additions 1,112 331 13,495 1,276 16,214
At 31 May 2024 112,520 14,584 22,745 5,566 155,415
DEPRECIATION
At 1 June 2023 105,131 13,940 7,672 4,289 131,032
Charge for year 2,607 474 4,452 1,276 8,809
At 31 May 2024 107,738 14,414 12,124 5,565 139,841
NET BOOK VALUE
At 31 May 2024 4,782 170 10,621 1 15,574
At 31 May 2023 6,277 313 1,578 1 8,169

5. STOCKS
31.5.24 31.5.23
£ £
Stocks 233,348 178,050

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 187,214 83,009
Other debtors 3,477 43,539
Directors' current accounts - 6,160
Tax 3,309 -
Called up share capital not paid 133 133
Prepayments and accrued income 17,473 2,334
211,606 135,175

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade creditors 12,993 7,218
Corporation tax - 20,670
Social security and other taxes 625 -
VAT 23,737 16,738
Other creditors 29,182 15,658
Directors' current accounts 34,264 13,488
Accruals and deferred income 1,001 367
101,802 74,139

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £ £
134 A Ordinary £1 134 134
133 B Ordinary £1 133 133
133 C Ordinary £1 133 133
25 D Ordinary £1 25 25
133 E Ordinary £1 133 133
558 558

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. RESERVES
Retained
earnings
£

At 1 June 2023 745,986
Deficit for the year (3,155 )
Dividends (89,700 )
At 31 May 2024 653,131

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.5.24 31.5.23
£ £
Mr P Williams
Balance outstanding at start of year (909 ) 987
Amounts advanced 14,970 27,104
Amounts repaid (25,000 ) (29,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,939 ) (909 )

Mr S J Williams
Balance outstanding at start of year (3,028 ) 43,025
Amounts advanced 25,255 10,518
Amounts repaid (36,000 ) (56,571 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,773 ) (3,028 )

Mr M J Griffiths
Balance outstanding at start of year 6,160 12,160
Amounts advanced 4,700 -
Amounts repaid (10,860 ) (6,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,160

SHEAF ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03989782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J P Williams
Balance outstanding at start of year - 1,429
Amounts advanced - 1,571
Amounts repaid - (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr J R Aston
Balance outstanding at start of year (9,552 ) (9,552 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,552 ) (9,552 )