Registered number
09275997
SHEAVYN ASSOCIATES FINANCIAL MANAGEMENT LIMITED
Filleted Accounts
31 December 2024
SHEAVYN ASSOCIATES FINANCIAL MANAGEMENT LIMITED
Registered number: 09275997
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 179,887 -
Tangible assets 4 137,834 46,430
317,721 46,430
Current assets
Debtors 5 593,097 662,393
Cash at bank and in hand 364,088 129,304
957,185 791,697
Creditors: amounts falling due within one year 6 (211,058) (130,805)
Net current assets 746,127 660,892
Total assets less current liabilities 1,063,848 707,322
Creditors: amounts falling due after more than one year 7 (467,930) (252,653)
Provisions for liabilities (13,131) (13,131)
Net assets 582,787 441,538
Capital and reserves
Called up share capital 2 2
Profit and loss account 582,785 441,536
Shareholders' funds 582,787 441,538
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J WOODHALL
Director
Approved by the board on 19 September 2025
SHEAVYN ASSOCIATES FINANCIAL MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
General information and basis of preparation
Sheavyn Associates Financial Management Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £000.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 475,000
Additions 179,887
At 31 December 2024 654,887
Amortisation
At 1 January 2024 475,000
At 31 December 2024 475,000
Net book value
At 31 December 2024 179,887
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 24,000 24,081 21,650 69,731
Additions - 1,640 95,630 97,270
At 31 December 2024 24,000 25,721 117,280 167,001
Depreciation
At 1 January 2024 - 16,197 7,104 23,301
Charge for the year - 2,230 3,636 5,866
At 31 December 2024 - 18,427 10,740 29,167
Net book value
At 31 December 2024 24,000 7,294 106,540 137,834
At 31 December 2023 24,000 7,884 14,546 46,430
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 505,732 504,393
Other debtors 87,365 158,000
593,097 662,393
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 2,940
Taxation and social security costs 84,850 56,592
Other creditors 126,208 71,273
211,058 130,805
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 118,540 118,540
Obligations under finance lease and hire purchase contracts - 12,590
Other creditors 349,390 121,523
467,930 252,653
8 Other information
SHEAVYN ASSOCIATES FINANCIAL MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Dryson House
York Road
Wetherby
LS22 7SU
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