ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

Registered number: 12288228

SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

REGISTERED NUMBER: 12288228

BALANCE SHEET

AS AT 31 MARCH 2025


	2025	2023
Note	£	£

Fixed assets
Tangible assets	4		6,471		9,945
Current assets
Stocks		3,247		1,650
Bank and cash balances		24,611		13,447
		27,858		15,097
Creditors: amounts falling due within one year	5	(2,751)		(4,356)
Net current assets			25,107		10,741
Total assets less current liabilities			31,578		20,686
Provisions for liabilities
Deferred tax			(1,229)		-
Net assets			£30,349		£20,686

Capital and reserves
Profit and loss account	30,349	20,686
	£30,349	£20,686

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 June 2025.

R P N Grieve

Director

The notes on pages 3 to 5 form part of these financial statements.

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SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

REGISTERED NUMBER: 12288228

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

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SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

1.	General information

Sheringham Shantymen Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 12288228. The company's registered office is 23 Station Road, Sheringham, Norfolk, NR26 8RF.
The financial statements report the results for the period from 1 October 2023 to 31 March 2025. Comparative data relates to the year ended 30 September 2023.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services provided, exclusive of Value Added Tax.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives.

Depreciation is provided on the following basis:

				Equipment	-	25%	Reducing balance
				Motor vehicle	-	25%	Reducing balance

A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Stocks

Stocks are valued at the lower of cost and net realisable value.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instruments 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.

2.7

Creditors

Creditors are measured at transaction price.

2.8

Interest income

Interest income is recognised in the Statement of Comprehensive Income in the year in which it is received.

2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.10

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.

Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).

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SHERINGHAM SHANTYMEN LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Equipment	Motor Vehicle	Total
	£	£	£
Cost or valuation
At 1 October 2023	16,495	5,400	21,895
Additions	409	-	409
At 31 March 2025	16,904	5,400	22,304
Depreciation
At 1 October 2023	8,258	3,692	11,950
Charge for the period on owned assets	3,242	641	3,883
At 31 March 2025	11,500	4,333	15,833
Net book value
At 31 March 2025	£5,404	£1,067	£6,471
At 30 September 2023	£8,237	£1,708	£9,945

Corporation tax	2,271	-
Other creditors	-	4,093
Accruals and deferred income	480	263
	£2,751	£4,356


6.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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