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Registration number: 07309033

Sheppard & Willcox Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Sheppard & Willcox Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Sheppard & Willcox Ltd

(Registration number: 07309033)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,095

38,858

Current assets

 

Debtors

5

28,802

13,703

Cash at bank and in hand

 

8,138

13,115

 

36,940

26,818

Creditors: Amounts falling due within one year

6

(31,155)

(16,374)

Net current assets

 

5,785

10,444

Total assets less current liabilities

 

36,880

49,302

Provisions for liabilities

(7,774)

(7,383)

Net assets

 

29,106

41,919

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

29,104

41,917

Shareholders' funds

 

29,106

41,919

 

Sheppard & Willcox Ltd

(Registration number: 07309033)
Balance Sheet as at 31 July 2024 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 January 2025 and signed on its behalf by:
 

.........................................
M Sheppard
Director

 

Sheppard & Willcox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingmore
Swan Lane
Winterbourne
Bristol
BS36 1RW

These financial statements were authorised for issue by the Board on 15 January 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Sheppard & Willcox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Equipment

20% Straight Line

Motor Vehicles

25% Straight Line

Computer Equipment

33% Straight Line

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

Sheppard & Willcox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Plant and equipment
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

48,792

354

20,444

69,590

Additions

-

350

-

350

At 31 July 2024

48,792

704

20,444

69,940

Depreciation

At 1 August 2023

24,468

353

5,911

30,732

Charge for the year

4,083

19

4,011

8,113

At 31 July 2024

28,551

372

9,922

38,845

Carrying amount

At 31 July 2024

20,241

332

10,522

31,095

At 31 July 2023

24,324

1

14,533

38,858

5

Debtors

Current

2024
£

2023
£

Trade debtors

24,300

9,513

Prepayments

4,502

4,190

 

28,802

13,703

 

Sheppard & Willcox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

26,292

14,374

Accruals and deferred income

4,863

2,000

31,155

16,374

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2