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Registered number: 12488238
Sheepskin Wholesale Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
En Ee Accounting Ltd
33 Clayton Road
Lane End
High Wycombe
Buckinghamshire
HP14 3GA
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Robert Furmanek
Company Number 12488238
Registered Office 2B Northern Road
Aylesbury
HP19 9QU
Accountants En Ee Accounting Ltd
33 Clayton Road
Lane End
High Wycombe
Buckinghamshire
HP14 3GA
Page 1
Page 2
Balance Sheet
Registered number: 12488238
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,466 3,430
2,466 3,430
CURRENT ASSETS
Stocks 5 40,050 45,010
Debtors 6 3,873 3,412
Cash at bank and in hand 1,439 6,086
45,362 54,508
Creditors: Amounts Falling Due Within One Year 7 (32,758 ) (47,648 )
NET CURRENT ASSETS (LIABILITIES) 12,604 6,860
TOTAL ASSETS LESS CURRENT LIABILITIES 15,070 10,290
Creditors: Amounts Falling Due After More Than One Year 8 (28,420 ) (12,500 )
NET LIABILITIES (13,350 ) (2,210 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (13,351 ) (2,211 )
SHAREHOLDERS' FUNDS (13,350) (2,210)
Page 2
Page 3
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Furmanek
Director
28/11/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Sheepskin Wholesale Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12488238 . The registered office is 2B Northern Road, Aylesbury, HP19 9QU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles Reducing Balance Basis
Computer Equipment Straight Line Basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
Page 4
Page 5
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 March 2024 7,000 1,180 8,180
As at 28 February 2025 7,000 1,180 8,180
Depreciation
As at 1 March 2024 4,153 597 4,750
Provided during the period 570 394 964
As at 28 February 2025 4,723 991 5,714
Net Book Value
As at 28 February 2025 2,277 189 2,466
As at 1 March 2024 2,847 583 3,430
5. Stocks
2025 2024
£ £
Finished goods 40,050 45,010
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 3,838 1,750
Prepayments and accrued income (765 ) -
Other debtors 800 1,150
Corporation tax recoverable assets - 420
Other taxes and social security - 92
3,873 3,412
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 21,960 27,170
Corporation tax - 420
Other taxes and social security 11 -
VAT 6,921 5,531
Net wages 2,150 -
Other creditors 49 -
Workplace Pension - 100
Accruals and deferred income - 1,020
Director's loan account 1,667 13,407
32,758 47,648
Page 5
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 15,000 8,000
Other loans 13,420 4,500
28,420 12,500
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
10. Dividends
Page 6