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Logo On Report
Registered Number: 11780934


 

 

 

SCOTT SHEARSMITH LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025
You consider that the company is exempt from an audit for the year ended 31 January 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Kendall Accountancy Services Limited
31 January 2025



....................................................

Kendall Accountancy Services Limited

2 Exeter Street

Cottingham
HU16 4LU
27 June 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Intangible fixed assets 3 5,000    5,000 
Tangible fixed assets 4 7,219    8,372 
12,219    13,372 
Current assets      
Stocks 30,195    30,195 
Cash at bank and in hand 29,143    77,052 
59,338    107,247 
Creditors: amount falling due within one year (46,784)   (71,302)
Net current assets 12,554    35,945 
 
Total assets less current liabilities 24,773    49,317 
Provisions for liabilities (1,372)  
Net assets 23,401    49,317 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 23,400    49,316 
Shareholders' funds 23,401    49,317 
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 June 2025 and were signed on its behalf by:


-------------------------------
Scott Shearsmith
Director
2
General Information
Scott Shearsmith Limited is a private company, limited by shares, registered in , registration number 11780934, registration address 28 Paddock Way, Kingswood, Hull, HU7 3FJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, 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:
Fixtures and Fittings 10% Straight Line
Computer Equipment 25% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2024 : 1).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 February 2024 5,000    5,000 
Additions  
Disposals  
At 31 January 2025 5,000    5,000 
Net book values
At 31 January 2025 5,000    5,000 
At 31 January 2024 5,000    5,000 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 February 2024 10,000    4,720    14,720 
Additions   788    788 
Disposals    
At 31 January 2025 10,000    5,508    15,508 
Depreciation
At 01 February 2024 3,000    3,348    6,348 
Charge for year 1,000    941    1,941 
On disposals    
At 31 January 2025 4,000    4,289    8,289 
Net book values
Closing balance as at 31 January 2025 6,000    1,219    7,219 
Opening balance as at 01 February 2024 7,000    1,372    8,372 


5.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
1 Class A share of £1.00 each  
 

3