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CHARLES SHEARD & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHARLES SHEARD & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: C S D Sheard
Ms P L Sheard
J Bagshaw





REGISTERED OFFICE: Carr Mills
Bradford Road
Birstall
WF17 9JX





REGISTERED NUMBER: 00170304 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,174 1,467
Investment property 5 675,000 675,000
676,174 676,467

CURRENT ASSETS
Debtors 6 18,808 3,346
Cash at bank and in hand 228,291 236,729
247,099 240,075
CREDITORS
Amounts falling due within one year 7 74,085 67,439
NET CURRENT ASSETS 173,014 172,636
TOTAL ASSETS LESS CURRENT LIABILITIES 849,188 849,103

PROVISIONS FOR LIABILITIES 8 113,446 113,494
NET ASSETS 735,742 735,609

CAPITAL AND RESERVES
Called up share capital 9 21,702 21,702
Non-distributable reserves 453,032 453,032
Retained earnings 261,008 260,875
SHAREHOLDERS' FUNDS 735,742 735,609

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

BALANCE SHEET - continued
31 DECEMBER 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





C S D Sheard - Director


CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

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


1. STATUTORY INFORMATION

Charles Sheard & Sons 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.

In accordance with Section 444 of the Companies Act 2006, the Directors Report has not been delivered.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 3,201 43,878 47,079
DEPRECIATION
At 1 January 2024 3,088 42,524 45,612
Charge for year 22 271 293
At 31 December 2024 3,110 42,795 45,905
NET BOOK VALUE
At 31 December 2024 91 1,083 1,174
At 31 December 2023 113 1,354 1,467

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 675,000
NET BOOK VALUE
At 31 December 2024 675,000
At 31 December 2023 675,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 5,308 (70 )
Other debtors 11,423 1,423
Prepayments 2,077 1,993
18,808 3,346

CHARLES SHEARD & SONS LIMITED (REGISTERED NUMBER: 00170304)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 23,763 18,750
Social security and other taxes 987 757
VAT 12,937 14,345
Other creditors 31,190 28,875
Directors' current accounts 898 721
Accrued expenses 4,310 3,991
74,085 67,439

The director's loan account is interest free and repayable on demand.

8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 113,446 113,494

Deferred
tax
£   
Balance at 1 January 2024 113,494
Accelerated capital allowances (48 )
Balance at 31 December 2024 113,446

Deferred tax provision of £113,446 (2023: £113,494 is recognised in respect of the investment property revaluation.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
12,480 Ordinary 1.00 12,480 21,702
5,642 A Ordinary 1.00 5,642 -
3,580 B Ordinary 1.00 3,580 -
21,702 21,702

10. RELATED PARTY DISCLOSURES

During the year £93,600 (2023: £83,600) of consultancy fees were paid to CPM Consultancy, a partnership in which C S D Sheard and J Bagshaw are partners.

11. ULTIMATE CONTROLLING PARTY

The controlling party is C S D Sheard.