Silverfin false false 31/10/2024 01/11/2023 31/10/2024 P J G Sharman 08/06/2012 R E M Sharman 08/06/2012 24 March 2025 The principal activity of the Company during the financial year was that is fencing contractors. 05601659 2024-10-31 05601659 bus:Director1 2024-10-31 05601659 bus:Director2 2024-10-31 05601659 2023-10-31 05601659 core:CurrentFinancialInstruments 2024-10-31 05601659 core:CurrentFinancialInstruments 2023-10-31 05601659 core:Non-currentFinancialInstruments 2024-10-31 05601659 core:Non-currentFinancialInstruments 2023-10-31 05601659 core:ShareCapital 2024-10-31 05601659 core:ShareCapital 2023-10-31 05601659 core:RetainedEarningsAccumulatedLosses 2024-10-31 05601659 core:RetainedEarningsAccumulatedLosses 2023-10-31 05601659 core:PlantMachinery 2023-10-31 05601659 core:Vehicles 2023-10-31 05601659 core:FurnitureFittings 2023-10-31 05601659 core:OfficeEquipment 2023-10-31 05601659 core:PlantMachinery 2024-10-31 05601659 core:Vehicles 2024-10-31 05601659 core:FurnitureFittings 2024-10-31 05601659 core:OfficeEquipment 2024-10-31 05601659 2023-11-01 2024-10-31 05601659 bus:FilletedAccounts 2023-11-01 2024-10-31 05601659 bus:SmallEntities 2023-11-01 2024-10-31 05601659 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 05601659 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05601659 bus:Director1 2023-11-01 2024-10-31 05601659 bus:Director2 2023-11-01 2024-10-31 05601659 core:Goodwill core:TopRangeValue 2023-11-01 2024-10-31 05601659 core:Goodwill 2023-11-01 2024-10-31 05601659 core:PlantMachinery 2023-11-01 2024-10-31 05601659 core:Vehicles 2023-11-01 2024-10-31 05601659 core:FurnitureFittings 2023-11-01 2024-10-31 05601659 core:OfficeEquipment core:BottomRangeValue 2023-11-01 2024-10-31 05601659 core:OfficeEquipment core:TopRangeValue 2023-11-01 2024-10-31 05601659 2022-11-01 2023-10-31 05601659 core:OfficeEquipment 2023-11-01 2024-10-31 05601659 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Company No: 05601659 (England and Wales)

SHARMAN FENCING LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

SHARMAN FENCING LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

SHARMAN FENCING LIMITED

BALANCE SHEET

As at 31 October 2024
SHARMAN FENCING LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 148,537 102,623
148,537 102,623
Current assets
Stocks 4 18,900 18,900
Debtors 5 83,842 125,290
Cash at bank and in hand 150,985 52,291
253,727 196,481
Creditors: amounts falling due within one year 6 ( 138,829) ( 140,176)
Net current assets 114,898 56,305
Total assets less current liabilities 263,435 158,928
Creditors: amounts falling due after more than one year 7 ( 30,625) ( 2,945)
Provision for liabilities ( 28,222) ( 18,218)
Net assets 204,588 137,765
Capital and reserves
Called-up share capital 2 2
Profit and loss account 204,586 137,763
Total shareholders' funds 204,588 137,765

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SHARMAN FENCING LIMITED (registered number: 05601659) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

R E M Sharman
Director
SHARMAN FENCING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
SHARMAN FENCING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SHARMAN FENCING LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Robinswood Farm, Bere Regis, Wareham, Dorset, BH20 7JJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 3 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 8

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 November 2023 204,576 120,959 4,781 56,746 387,062
Additions 0 70,000 0 712 70,712
Disposals 0 ( 24,499) 0 0 ( 24,499)
At 31 October 2024 204,576 166,460 4,781 57,458 433,275
Accumulated depreciation
At 01 November 2023 154,548 101,931 4,220 23,740 284,439
Charge for the financial year 5,695 15,072 140 2,598 23,505
Disposals 0 ( 23,206) 0 0 ( 23,206)
At 31 October 2024 160,243 93,797 4,360 26,338 284,738
Net book value
At 31 October 2024 44,333 72,663 421 31,120 148,537
At 31 October 2023 50,028 19,028 561 33,006 102,623

4. Stocks

2024 2023
£ £
Stocks 18,900 18,900

5. Debtors

2024 2023
£ £
Trade debtors 78,139 119,299
Other debtors 5,703 5,991
83,842 125,290

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 5,000
Trade creditors 38,855 42,372
Taxation and social security 39,858 44,472
Obligations under finance leases and hire purchase contracts (secured) 13,125 0
Other creditors 46,991 48,332
138,829 140,176

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 0 2,945
Obligations under finance leases and hire purchase contracts 30,625 0
30,625 2,945

Hire purchase contracts are secured on the assets to which they relate.

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance at start of year 0 0
Advanced to directors 2,972 0
Balance at end of year 2,972 0