BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is property development, building work and civil engineering. 7 May 2025 0 0 1076486 2024-10-31 1076486 2023-10-31 1076486 2022-10-31 1076486 2023-11-01 2024-10-31 1076486 2022-11-01 2023-10-31 1076486 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 1076486 uk-curr:PoundSterling 2023-11-01 2024-10-31 1076486 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 1076486 uk-bus:FullAccounts 2023-11-01 2024-10-31 1076486 uk-core:ShareCapital 2024-10-31 1076486 uk-core:ShareCapital 2023-10-31 1076486 uk-core:OtherReservesSubtotal 2024-10-31 1076486 uk-core:OtherReservesSubtotal 2023-10-31 1076486 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 1076486 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 1076486 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 1076486 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 1076486 uk-core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 1076486 uk-core:ShareCapital 2023-11-01 2024-10-31 1076486 uk-bus:FRS102 2023-11-01 2024-10-31 1076486 uk-core:PlantMachinery 2023-11-01 2024-10-31 1076486 uk-core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 1076486 uk-core:MotorVehicles 2023-11-01 2024-10-31 1076486 uk-core:CostValuation 2023-10-31 1076486 uk-core:RevaluationsIncreaseDecreaseInInvestments 2024-10-31 1076486 uk-core:CostValuation 2024-10-31 1076486 uk-core:CurrentFinancialInstruments 2024-10-31 1076486 uk-core:CurrentFinancialInstruments 2023-10-31 1076486 uk-core:WithinOneYear 2024-10-31 1076486 uk-core:WithinOneYear 2023-10-31 1076486 uk-core:OtherMiscellaneousReserve 2023-10-31 1076486 uk-core:OtherMiscellaneousReserve 2023-11-01 2024-10-31 1076486 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 1076486 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-10-31 1076486 uk-core:OtherDeferredTax 2024-10-31 1076486 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-10-31 1076486 uk-core:OtherMiscellaneousReserve 2024-10-31 1076486 2023-11-01 2024-10-31 1076486 uk-bus:CompanySecretaryDirector1 2023-11-01 2024-10-31 1076486 uk-bus:Director2 2023-11-01 2024-10-31 1076486 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
Company Registration Number: 1076486
 
 
A Sharman & Sons (Construction) Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2024



A Sharman & Sons (Construction) Limited
Company Registration Number: 1076486
BALANCE SHEET
as at 31 October 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 41,143 30,603
Investment properties 6 300,000 393,000
Investments 7 2,212 1,941
───────── ─────────
Fixed Assets 343,355 425,544
───────── ─────────
 
Current Assets
Stocks 8 1,143,099 1,024,972
Debtors 9 99,183 116,378
Cash at bank and in hand 6,987 32,405
───────── ─────────
1,249,269 1,173,755
───────── ─────────
Creditors: amounts falling due within one year 10 (253,585) (350,320)
───────── ─────────
Net Current Assets 995,684 823,435
───────── ─────────
Total Assets less Current Liabilities 1,339,039 1,248,979
 
Provisions for liabilities 12 (12,466) (7,696)
───────── ─────────
Net Assets 1,326,573 1,241,283
═════════ ═════════
 
Capital and Reserves
Called up share capital 51,600 51,600
Other reserves 73,458 79,191
Retained earnings 1,201,515 1,110,492
───────── ─────────
Shareholders' Funds 1,326,573 1,241,283
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 7 May 2025 and signed on its behalf by
           
           
           
________________________________          
Mr. M Sharman          
Director          
           



A Sharman & Sons (Construction) Limited
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 31 October 2024

Called up Retained Special Total
share earnings reserve
capital
£ £ £ £
 
At 1 November 2022 51,600 1,090,745 38,889 1,181,234
───────── ───────── ───────── ─────────
Profit for the financial year - 82,549 - 82,549
───────── ───────── ───────── ─────────
Payment of dividends - (22,500) - (22,500)
Other movements in
Shareholders' Funds - (40,302) 40,302 -
  ───────── ───────── ───────── ─────────
At 31 October 2023 51,600 1,110,492 79,191 1,241,283
  ───────── ───────── ───────── ─────────
Profit for the financial year - 107,790 - 107,790
  ───────── ───────── ───────── ─────────
Payment of dividends - (22,500) - (22,500)
Other movements in
Shareholders' Funds - 5,733 (5,733) -
  ───────── ───────── ───────── ─────────
At 31 October 2024 51,600 1,201,515 73,458 1,326,573
  ═════════ ═════════ ═════════ ═════════



A Sharman & Sons (Construction) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2024

   
1. General Information
 
A Sharman & Sons (Construction) Limited is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office and Oak View, 22A Lynn Road, Southery, Downham Market, Norfolk, PE38, 0HU is the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of sales made and work done by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 10% Reducing balance
  Fixtures, fittings and equipment - 10% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at market value at the balance sheet date, with any changes in fair value recognised in the Profit and Loss Account. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2023 - 5).
       
4. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 22,500 22,500
  ═════════ ═════════
 
Since the balance sheet date dividends amounting to £11,250 have been paid.
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 November 2023 171,011 2,269 39,044 212,324
Additions 15,000 - - 15,000
Disposals (1,363) (732) - (2,095)
  ───────── ───────── ───────── ─────────
At 31 October 2024 184,648 1,537 39,044 225,229
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2023 148,006 1,242 32,473 181,721
Charge for the financial year 2,410 86 1,643 4,139
On disposals (1,210) (564) - (1,774)
  ───────── ───────── ───────── ─────────
At 31 October 2024 149,206 764 34,116 184,086
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2024 35,442 773 4,928 41,143
  ═════════ ═════════ ═════════ ═════════
At 31 October 2023 23,005 1,027 6,571 30,603
  ═════════ ═════════ ═════════ ═════════
     
6. Investment Properties
  Investment
  properties
 
  £
Valuation
At 1 November 2023 393,000
Disposals (100,000)
Revaluation 7,000
  ─────────
At 31 October 2024 300,000
  ─────────
Net book value
At 31 October 2024 300,000
  ═════════
At 31 October 2023 393,000
  ═════════
 
The value of investment properties is based on the directors opinion of the fair value at the balance sheet date. The properties originally cost £223,746.
     
7. Investments
  Other
  investments
   
Investments £
Cost or Valuation
At 1 November 2023 1,941
Revaluations 271
  ─────────
At 31 October 2024 2,212
  ─────────
Net book value
At 31 October 2024 2,212
  ═════════
At 31 October 2023 1,941
  ═════════
 
Investments consist of shares held in a publicly traded company at their market value at the balance sheet date.
       
8. Stocks 2024 2023
  £ £
 
Raw materials 2,500 2,500
Work in progress 1,140,599 1,022,472
  ───────── ─────────
  1,143,099 1,024,972
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
9. Debtors 2024 2023
  £ £
 
Trade debtors 85,879 110,863
Taxation  (Note 11) 8,284 -
Prepayments and accrued income 5,020 5,515
  ───────── ─────────
  99,183 116,378
  ═════════ ═════════
       
10. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 23,569 41,517
Taxation  (Note 11) 30,571 14,551
Directors' current accounts 192,826 290,235
Other creditors 2,629 197
Accruals 3,990 3,820
  ───────── ─────────
  253,585 350,320
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Debtors:
VAT 8,284 -
  ═════════ ═════════
Creditors:
VAT - 1,266
Corporation tax 28,999 11,523
PAYE / NI 1,572 1,762
  ───────── ─────────
  30,571 14,551
  ═════════ ═════════
           
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Property Total Total
  allowances revaluations    
         
      2024 2023
  £ £ £ £
 
At financial year start 5,815 1,881 7,696 8,748
Charged to profit and loss 3,854 916 4,770 (1,052)
  ───────── ───────── ───────── ─────────
At financial year end 9,669 2,797 12,466 7,696
  ═════════ ═════════ ═════════ ═════════
   
13. Pension costs - defined contribution
 
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs amounted to £674 (2023 - £1,137)
           
14. Related party transactions
 
During the year dividends amounting to £22,500 were paid to the directors.
On 25 July 2024 one of the investment properties was sold to Mr M Sharman, one of the directors, for its market value of £100,000 via his directors loan account.
   
15. Controlling interest
 
The company is under the control of the directors.