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Registered number: 05460632
Two Sheds Limited
Financial Statements
For The Year Ended 31 May 2025
Xeinadin South Essex Limited
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Two Sheds Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Two Sheds Limited
Balance Sheet
As At 31 May 2025
Balance Sheet
Registered number: 05460632

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 6,555 |  | 5,901
|  |  | 6,555 |  | 5,901
CURRENT ASSETS
Debtors | 5 | 15,281 |  | 10,651 |
Cash at bank and in hand |  | 3,808 |  | 10,742 |
|  | 19,089 |  | 21,393 |
Creditors: Amounts Falling Due Within One Year | 6 | (23,814 ) |  | (20,615 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (4,725 ) |  | 778
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,830 |  | 6,679
Creditors: Amounts Falling Due After More Than One Year | 7 |  | - |  | (5,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (1,245 ) |  | (1,121 )
NET ASSETS |  |  | 585 |  | 558
CAPITAL AND RESERVES
Called up share capital | 8 |  | 100 |  | 100
Profit and Loss Account |  |  | 485 |  | 458
SHAREHOLDERS' FUNDS |  |  | 585 |  | 558

Page 1
Page 2
Two Sheds Limited
Balance Sheet (continued)
As At 31 May 2025
For the year ending 31 May 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 Jonathan Allan Director
12/01/2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Two Sheds Limited
Notes to the Financial Statements
For The Year Ended 31 May 2025
Notes to the Financial Statements
1. General Information
Two Sheds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05460632 . The registered office is 4 Borough Lane, Saffron Walden, Essex, CB11 4AF.
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:

Plant & Machinery | 25% reducing balance

2.4. Leasing and Hire Purchase Contracts
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.
Page 3
Page 4
Two Sheds Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 2)
1 2
Page 4
Page 5
Two Sheds Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
4. Tangible Assets

| Plant & Machinery
--- | ---
| £
Cost
As at 1 June 2024 | 41,996
Additions | 2,839
As at 31 May 2025 | 44,835
Depreciation
As at 1 June 2024 | 36,095
Provided during the period | 2,185
As at 31 May 2025 | 38,280
Net Book Value
As at 31 May 2025 | 6,555
As at 1 June 2024 | 5,901

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 9,027 |  | 7,210
Prepayments and accrued income | 103 |  | 357
Director's loan account | 6,151 |  | 3,084
| 15,281 |  | 10,651

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 7,279 |  | 5,409
Bank loans and overdrafts | 5,000 |  | 5,000
Corporation tax | 7,041 |  | 4,506
Other taxes and social security | - |  | 1
VAT | 3,338 |  | 4,610
Accruals and deferred income | 1,156 |  | 1,089
| 23,814 |  | 20,615

Page 5
Page 6
Two Sheds Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
7. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | - |  | 5,000

8. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 June 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 May 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Jonathan Allan | 3,084 | 6,150 | 3,084 | - | 6,150

The above loan is unsecured, interest free and repayable on demand.
Page 6