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Company No: 01240764 (England and Wales)

# SHERLOCK AND NEAL LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH THE REGISTRAR

SHERLOCK AND NEAL LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

Contents

SHERLOCK AND NEAL LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
SHERLOCK AND NEAL LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

DIRECTOR | M G Neal (Resigned 21 August 2024)
| N J Ruddle (Resigned 21 August 2024)
| M A Woollard-Brown

REGISTERED OFFICE | Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT
| United Kingdom

COMPANY NUMBER | 01240764 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

SHERLOCK AND NEAL LIMITED

## STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2025
SHERLOCK AND NEAL LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

AS AT 30 APRIL 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 60,761 |  | 71,707
|  | 60,761 |  | 71,707
Current assets |  |  |  |
Stocks | 4 | 8,712 |  | 24,936
Debtors | 5 | 84,567 |  | 119,023
Cash at bank and in hand |  | 396,939 |  | 487,513
|  | 490,218 |  | 631,472
Creditors: amounts falling due within one year | 6 | ( 238,442) |  | ( 226,158)
Net current assets |  | 251,776 |  | 405,314
Total assets less current liabilities |  | 312,537 |  | 477,021
Provision for liabilities |  | ( 15,053) |  | ( 16,870)
Net assets |  | 297,484 |  | 460,151
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 297,384 |  | 460,051
Total shareholder's funds |  | 297,484 |  | 460,151

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Sherlock and Neal Limited (registered number: 01240764) were approved and authorised for issue by the Director on 18 September 2025. They were signed on its behalf by:

M A Woollard-Brown Director |

SHERLOCK AND NEAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
SHERLOCK AND NEAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

##### 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

Sherlock and Neal 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, 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 £.

##### 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. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

##### Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Leasehold improvements | 10 years straight line
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance
Office equipment | 20 % reducing balance

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjustment prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

##### Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

##### 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.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### 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.

##### 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 9 |  | 12

#### 3. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 73,035 |  | 153,901 |  | 114,917 |  | 30,260 |  | 10,086 |  | 382,199
Additions | 0 |  | 0 |  | 6,000 |  | 0 |  | 0 |  | 6,000
At 30 April 2025 | 73,035 |  | 153,901 |  | 120,917 |  | 30,260 |  | 10,086 |  | 388,199
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 66,479 |  | 144,057 |  | 64,861 |  | 28,481 |  | 6,614 |  | 310,492
Charge for the financial year | 2,648 |  | 2,461 |  | 10,698 |  | 445 |  | 694 |  | 16,946
At 30 April 2025 | 69,127 |  | 146,518 |  | 75,559 |  | 28,926 |  | 7,308 |  | 327,438
Net book value |  |  |  |  |  |  |  |  |  |  |
At 30 April 2025 | 3,908 |  | 7,383 |  | 45,358 |  | 1,334 |  | 2,778 |  | 60,761
At 30 April 2024 | 6,556 |  | 9,844 |  | 50,056 |  | 1,779 |  | 3,472 |  | 71,707

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Raw materials | 3,350 |  | 2,850
Work in progress | 5,362 |  | 22,086
| 8,712 |  | 24,936

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 64,165 |  | 114,150
Prepayments | 20,152 |  | 4,623
Other debtors | 250 |  | 250
| 84,567 |  | 119,023

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 79,026 |  | 71,331
Amounts owed to Group undertakings | 0 |  | 30,873
Amounts owed to director | 0 |  | 1,306
Accruals and deferred income | 90,283 |  | 31,881
CIS withheld | 5,197 |  | 8,949
Taxation and social security | 61,907 |  | 79,909
Other creditors | 2,029 |  | 1,909
| 238,442 |  | 226,158

#### 7. Financial commitments

Other financial commitments

| 2025 |  | 2024
| £ |  | £
Not later than 1 year | 19,200 |  | 0
Later than 1 year and not later than 5 years | 38,400 |  | 0
| 57,600 |  | 0

At 30 April 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the above periods:

#### 8. Ultimate controlling party

Parent Company:

Henbury Holdings Limited
Wey Court West, Union Road, Farnham, Surrey, United Kingdom, GU9 7PT