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REGISTERED NUMBER: 06252582 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Sherwood Hire Limited

Sherwood Hire Limited (Registered number: 06252582)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Balance Sheet 1

Notes to the Financial Statements 2


Sherwood Hire Limited (Registered number: 06252582)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 419,000 331,013

CURRENT ASSETS
Debtors 5 42,769 32,338
Cash at bank 21,059 32,764
63,828 65,102
CREDITORS
Amounts falling due within one year 6 108,868 71,234
NET CURRENT LIABILITIES (45,040 ) (6,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,960

324,881

CREDITORS
Amounts falling due after more than one
year

7

(76,272

)

(84,169

)

PROVISIONS FOR LIABILITIES (77,786 ) (62,964 )
NET ASSETS 219,902 177,748

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 219,802 177,648
219,902 177,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





Mr D J Board - Director


Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Sherwood Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06252582

Registered office: Morton House
12 Appletongate
Newark
Nottinghamshire
NG24 1JY

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10 - 25% on reducing balance

Government grants
Government grants are recognised only where it is reasonably certain that an entity will comply with conditions attached to the grant. Grants are recognised as income over the period necessary to match them with related costs for which they are intended to compensate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2024 538,003
Additions 177,083
Disposals (33,141 )
At 31 March 2025 681,945
DEPRECIATION
At 1 April 2024 206,985
Charge for year 81,980
Eliminated on disposal (26,020 )
At 31 March 2025 262,945
NET BOOK VALUE
At 31 March 2025 419,000
At 31 March 2024 331,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 32,136 18,973
Other debtors 10,633 13,365
42,769 32,338

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 36,089 30,447
Trade creditors 26,838 1,667
Taxation and social security 2,318 1,353
Other creditors 38,067 32,211
108,868 71,234

Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 23,148 28,704
Hire purchase contracts 53,124 55,465
76,272 84,169

8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 89,213 85,912

Hire purchase creditors are secured on the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
Mr D J Board
Balance outstanding at start of year - 1,255
Amounts repaid - (1,255 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -