Company No:
Contents
| Note | 2024 | 2023 | ||
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| Current assets | ||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 27,741 | 34,598 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 8,632 | 21,157 | ||
| Total assets less current liabilities | 8,632 | 21,157 | ||
| Creditors: amounts falling due after more than one year | 5 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account | (
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Sherpa Management Services UK Limited (registered number:
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Christopher Colin Kaye
Director |
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.
Sherpa Management Services UK 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 85 First Floor, Great Portland Street, London, W1W 7LT, 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 £.
In 2024 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to certain fellow group companies. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
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| Monthly average number of persons employed by the Company during the year, including the director |
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| Amounts owed by Group undertakings |
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| Amounts owed by director |
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| Bank loans |
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| Amounts owed to Group undertakings |
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| Accruals |
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| Bank loans |
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| Allotted, called-up and fully-paid | |||
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During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.
At the year end, the director owed the company £675 (2023: £675). This loan is interest free with no fixed date for repayment.
Parent Company:
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| 850 New Burton Road, Suite 201, Dover, Delaware, United States of America |