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Registration number: 00914906

Sheet Metals (Sherwood) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Sheet Metals (Sherwood) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Sheet Metals (Sherwood) Limited

Company Information

Directors

Miss Helen Victoria Marshall

Mr Richard Marshall

Company secretary

Mrs Susan Ann Marshall

Registered office

c/o Atkinson Evans Limited
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
NG5 6LJ

Accountants

Atkinson Evans Limited
Chartered Certified Accountants
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
Nottinghamshire
NG5 6LJ

 

Sheet Metals (Sherwood) Limited

(Registration number: 00914906)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,903

61,060

Current assets

 

Stocks

23,000

18,510

Debtors

70,538

82,712

Cash at bank and in hand

 

21,496

53,640

 

115,034

154,862

Prepayments and accrued income

 

3,495

3,224

Creditors: Amounts falling due within one year

(159,848)

(163,005)

Net current liabilities

 

(41,319)

(4,919)

Total assets less current liabilities

 

16,584

56,141

Provisions for liabilities

(1,111)

(5,646)

Accruals and deferred income

 

(3,156)

(3,075)

Net assets

 

12,317

47,420

Capital and reserves

 

Called up share capital

253

253

Capital redemption reserve

250

250

Retained earnings

11,814

46,917

Shareholders' funds

 

12,317

47,420

For the financial year ending 30 September 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Sheet Metals (Sherwood) Limited

(Registration number: 00914906)
Abridged Balance Sheet as at 30 September 2024

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 8 May 2025 and signed on its behalf by:
 

.........................................
Miss Helen Victoria Marshall
Director

.........................................
Mr Richard Marshall
Director

 

Sheet Metals (Sherwood) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 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:
c/o Atkinson Evans Limited
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
NG5 6LJ

These financial statements were authorised for issue by the Board on 8 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sheet Metals (Sherwood) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sheet Metals (Sherwood) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 6).

 

Sheet Metals (Sherwood) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 October 2023

36,062

8,788

168,642

3,891

14,000

Additions

-

-

1,716

-

-

At 30 September 2024

36,062

8,788

170,358

3,891

14,000

Depreciation

At 1 October 2023

28,672

8,788

116,588

3,271

13,004

Charge for the year

706

-

3,559

359

249

At 30 September 2024

29,378

8,788

120,147

3,630

13,253

Carrying amount

At 30 September 2024

6,684

-

50,211

261

747

At 30 September 2023

7,390

-

52,054

620

996

Total
£

Cost or valuation

At 1 October 2023

231,383

Additions

1,716

At 30 September 2024

233,099

Depreciation

At 1 October 2023

170,323

Charge for the year

4,873

At 30 September 2024

175,196

Carrying amount

At 30 September 2024

57,903

At 30 September 2023

61,060

Included within the net book value of land and buildings above is £6,684 (2023 - £7,390) in respect of freehold land and buildings.