2023-08-01 04850669 2024-07-31 04850669 2023-08-01 2024-07-31 04850669 2023-07-31 04850669 2022-08-01 2023-07-31 04850669 uk-core:WithinOneYear 2023-07-31 04850669 uk-core:WithinOneYear 2024-07-31 04850669 uk-core:ShareCapital 2024-07-31 04850669 uk-core:ShareCapital 2023-07-31 04850669 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 04850669 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 04850669 uk-bus:Director1 2023-08-01 2024-07-31 04850669 uk-core:NetGoodwill 2023-08-01 2024-07-31 04850669 uk-core:PlantMachinery 2023-08-01 2024-07-31 04850669 uk-core:OfficeEquipment 2023-08-01 2024-07-31 04850669 uk-core:MotorVehicles 2023-08-01 2024-07-31 04850669 uk-core:Goodwill 2023-07-31 04850669 uk-core:Goodwill 2024-07-31 04850669 uk-core:OfficeEquipment 2023-07-31 04850669 uk-core:MotorVehicles 2023-07-31 04850669 uk-core:PlantMachinery 2023-07-31 04850669 uk-core:PlantMachinery 2024-07-31 04850669 uk-core:MotorVehicles 2024-07-31 04850669 uk-core:OfficeEquipment 2024-07-31 04850669 uk-core:WithinOneYear 2024-07-31 04850669 uk-core:WithinOneYear 2023-07-31 iso4217:GBP xbrli:pure 04850669 uk-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04850669 uk-bus:FRS102 2023-08-01 2024-07-31 04850669 uk-bus:FilletedAccounts 2023-08-01 2024-07-31 04850669 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31
F Sherlock (Electrical Contractors) Limited
Registered Number:04850669
For the year ended 31 July 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2024
F Sherlock (Electrical Contractors) Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
04850669
As at 31 July 2024
F Sherlock (Electrical Contractors) Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
2,323
2,274
3
2,323
2,274
Current assets
Trade and other receivables
29,380
26,252
4
26,252
29,380
Trade and other payables: amounts falling due within one year
(30,974)
(27,830)
5
(1,594)
(1,578)
Net current liabilities
Total assets less current liabilities
745
680
745
Net assets
680
Capital and reserves
Called up share capital
3
1
Retained earnings
742
679
745
680
Shareholders' funds
For the year ended 31 July 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Francis Bernard Sherlock Director
These financial statements were approved and authorised for issue by the Board on 25 April 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2024
F Sherlock (Electrical Contractors) Limited
Notes to the Financial Statements
Statutory Information
F Sherlock (Electrical Contractors) Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04850669.
Registered address:
2 Meriden Grove
Lostock
Bolton
Lancashire
BL6 4QR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurances
from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not
less than 12 months from the date of signing these financial statements. On this basis, the directors consider it appropriate to
prepare the accounts on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The Company recognises revenue when:the amount of revenue can be reliably measured;it is probable that future economic benefits will flow to the entity;and specific criteria have been met for each of the Company's activities.
Goodwill
Goodwill arising on the acquisition of the entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Property, plant and equipment
Property, plant and equipment, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
10% Reducing balance
25% Straight line
Computer Equipment
25% Reducing balance
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
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5
For the year ended 31 July 2024
F Sherlock (Electrical Contractors) Limited
Notes to the Financial Statements Continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 rates and laws that have been enacted or substantively enacted
by the Statement of Financial Position date.
Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an
impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and
compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its
recoverable amount and an impairment loss is recognised immediately in the profit or loss.
If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its
recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised in
prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss.
Financial instruments
Basic financial instruments that are payable or receivable within one year, typically trade creditors and debtors, are measured
initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received
less impairment losses for bad and doubtful debts.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 August 2023
10,000
At 31 July 2024
10,000
Amortisation
At 01 August 2023
10,000
At 31 July 2024
10,000
Net book value
At 31 July 2024
-
At 31 July 2023
-
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6
For the year ended 31 July 2024
F Sherlock (Electrical Contractors) Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or valuation
At 01 August 2023
11,902
3,119
7,150
1,633
540
-
-
540
Additions
At 31 July 2024
2,173
7,150
3,119
12,442
Provision for depreciation and impairment
At 01 August 2023
9,628
3,119
5,453
1,056
Charge for year
491
-
424
67
At 31 July 2024
10,119
3,119
5,877
1,123
At 31 July 2024
Net book value
1,050
1,273
-
2,323
At 31 July 2023
577
1,697
-
2,274
4. Trade and other receivables
2023
2024
£
£
Trade debtors
13,136
7,431
Prepayments and accrued income
3,945
547
Amounts owed by directors
527
6,564
Taxation and social security
7,438
14,838
Other debtors
1,206
-
29,380
26,252
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
5,151
4,152
Trade creditors
13,262
10,436
Taxation and social security
7,228
9,675
Accruals and deferred income
2,189
2,330
Other creditors
-
4,381
27,830
30,974
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For the year ended 31 July 2024
F Sherlock (Electrical Contractors) Limited
Notes to the Financial Statements Continued
6. Related party transactions
During the year F B Sherlock repaid £5,177 of the balance on his loan from the Company. At the year end F B Sherlock owes
£1,387 to the Company. The loan to F B Sherlock is interest free and repayable on demand.
During the year A Sherlock loaned the Company £1,795. At the year end A Sherlock is owed £1,795 from the Company. The
loan to the Company from A Sherlock interest free and repayable on demand.
During the year G Sherlock loaned £935 from the Company. At the year end G Sherlock owes £935 to the Company. The loan to
G Sherlock is interest free and repayable on demand.
7. Average number of persons employed
During the year the average number of employees was 3 (2023 : 3)
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