Sharp Technical Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09851483

SHARP TECHNICAL LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 March 2025

SHARP TECHNICAL LIMITED

STATEMENT OF FINANCIAL POSITION

30 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		81,744		8,264

CURRENT ASSETS

Debtors	6	551,797	200,269
Cash at bank and in hand		5,358	203,931
		---------	---------
		557,155	404,200

CREDITORS: amounts falling due within one year	7	310,962		179,448
		---------		---------
NET CURRENT ASSETS			246,193		224,752
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			327,937		233,016

CREDITORS: amounts falling due after more than one year	8		291,543		228,929

PROVISIONS	20,436	1,849
	---------	---------
NET ASSETS	15,958	2,238
	---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	100	100
Profit and loss account	15,858	2,138
	--------	-------
SHAREHOLDERS FUNDS	15,958	2,238
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

SHARP TECHNICAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 January 2026 , and are signed on behalf of the board by:

Mr M Phillips	Mr D Dawes
Director	Director

Company registration number: 09851483

SHARP TECHNICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England. The address of the registered office is Unit 3 Union Close, Tamworth, Staffordshire, B77 1BB.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration invoiced and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 11 (2024: 5 ).

5. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 31 March 2024	14,594	–	2,234	16,828
Additions	2,904	93,550	2,463	98,917
	--------	--------	-------	---------
At 30 March 2025	17,498	93,550	4,697	115,745
	--------	--------	-------	---------
Depreciation
At 31 March 2024	7,465	–	1,099	8,564
Charge for the year	1,510	23,388	539	25,437
	--------	--------	-------	---------
At 30 March 2025	8,975	23,388	1,638	34,001
	--------	--------	-------	---------
Carrying amount
At 30 March 2025	8,523	70,162	3,059	81,744
	--------	--------	-------	---------
At 30 March 2024	7,129	–	1,135	8,264
	--------	--------	-------	---------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	369,822	195,011
Amounts owed by group undertakings and undertakings in which the company has a participating interest	115,920	–
Other debtors	66,055	5,258
	---------	---------
	551,797	200,269
	---------	---------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	22,134	–
Trade creditors	103,309	46,669
Corporation tax	24,547	57,144
Social security and other taxes	61,845	24,609
Other creditors	99,127	51,026
	---------	---------
	310,962	179,448
	---------	---------

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	227,351	228,929
Other creditors	64,192	–
	---------	---------
	291,543	228,929
	---------	---------

Included in Other Creditors is a Loan of £178,169 (2024 - £234,000). The loan is secured on the Property it relates to.