REGISTERED NUMBER: 10655603 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SHERWOOD SOLICITORS LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

35,141

286,936

Investment property

5

300,000

-

335,141

286,936

CURRENT ASSETS

Debtors

6

94,822

182,789

CREDITORS

Amounts falling due within one year

7

(87,121

)

(98,399

)

NET CURRENT ASSETS

7,701

84,390

TOTAL ASSETS LESS CURRENT LIABILITIES

342,842

371,326

CREDITORS

Amounts falling due after more than one year

8

(1,828

)

(12,331

)

PROVISIONS FOR LIABILITIES

(1,285

)

(7,060

)

NET ASSETS

339,729

351,935

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

44,881

24,300

Retained earnings

294,748

327,535

339,729

351,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

A L Sherwood - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

375,000

AMORTISATION

At 1 April 2024

and 31 March 2025

375,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

281,500

28,006

309,506

Additions

-

191

191

Reclassification/transfer

(251,500

)

-

(251,500

)

At 31 March 2025

30,000

28,197

58,197

DEPRECIATION

At 1 April 2024

1,164

21,406

22,570

Charge for year

-

1,650

1,650

Eliminated on disposal

(1,164

)

-

(1,164

)

At 31 March 2025

-

23,056

23,056

NET BOOK VALUE

At 31 March 2025

30,000

5,141

35,141

At 31 March 2024

280,336

6,600

286,936

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

18,659

Revaluations

29,841

Reclassification/transfer

251,500

At 31 March 2025

300,000

NET BOOK VALUE

At 31 March 2025

300,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

30,000

Valuation in 2025

29,841

Cost

240,159

300,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,738

4,706

Other debtors

91,084

178,083

94,822

182,789

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,616

43,851

Trade creditors

1,759

-

Taxation and social security

49,243

45,879

Other creditors

6,503

8,669

87,121

98,399

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,828

12,331

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

24,300

Revaluation

20,581

At 31 March 2025

44,881

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

A L Sherwood

Balance outstanding at start of year

156,403

-

Amounts advanced

395,767

156,403

Amounts repaid

(483,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

69,170

156,403