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Company No: 00693745 (England and Wales)

SHEARS BROTHERS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

SHEARS BROTHERS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

SHEARS BROTHERS LIMITED

BALANCE SHEET

As at 30 November 2024
SHEARS BROTHERS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 620,000 620,000
620,000 620,000
Current assets
Debtors 4 11,197 9,338
Cash at bank and in hand 18,051 17,455
29,248 26,793
Creditors: amounts falling due within one year 5 ( 108,575) ( 115,679)
Net current liabilities (79,327) (88,886)
Total assets less current liabilities 540,673 531,114
Provision for liabilities ( 64,651) ( 64,651)
Net assets 476,022 466,463
Capital and reserves
Called-up share capital 6 2,500 2,500
Capital redemption reserve 2,500 2,500
Profit and loss account 471,022 461,463
Total shareholders' funds 476,022 466,463

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Shears Brothers Limited (registered number: 00693745) were approved and authorised for issue by the Board of Directors on 19 August 2025. They were signed on its behalf by:

I J Shears
Director
SHEARS BROTHERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
SHEARS BROTHERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

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.

General information and basis of accounting

Shears Brothers 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 10 Furrow Place, Wimborne, BH21 4GA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue comprises of rents receivable.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Investment property

Investment property
£
Valuation
As at 01 December 2023 620,000
As at 30 November 2024 620,000

The investment property has been revalued by the Directors.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 73,983 73,983

4. Debtors

2024 2023
£ £
Trade debtors 10,227 9,229
Other debtors 970 109
11,197 9,338

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,699 0
Amounts owed to directors 100,592 110,666
Accruals 2,045 1,847
Corporation tax 2,239 2,600
Other taxation and social security 0 566
108,575 115,679

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,500 Ordinary shares of £ 1.00 each 2,500 2,500

7. Reserves

2024 2023
£ £
Distributable reserves (84,554) (95,649)
Non-distributable reserves 546,017 546,017
461,463 450,368

Included in the profit and loss reserves is £546,017 (2023 - £546,017) of non-distributable reserves.