REGISTERED NUMBER: 01182459 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

SHERMAN & WATERMAN ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Collins

J Waterman

SECRETARY:

M A Collins

REGISTERED OFFICE:

Jubilee Market Hall No 1 Tavistock Court

The Piazza Covent Garden

London

WC2E 8BD

REGISTERED NUMBER:

01182459 (England and Wales)

ACCOUNTANTS:

Enhance

Chartered Accountants & Business Advisers

38 Middlehill Road

Wimborne

Dorset

BH21 2SE

FIXED ASSETS

Tangible assets

4

935,449

951,468

CURRENT ASSETS

Debtors

5

39,264

38,807

Cash at bank

401,443

289,913

440,707

328,720

CREDITORS

Amounts falling due within one year

6

248,138

165,644

NET CURRENT ASSETS

192,569

163,076

TOTAL ASSETS LESS CURRENT LIABILITIES

1,128,018

1,114,544

CREDITORS

Amounts falling due after more than one year

7

-

(10,500

)

PROVISIONS FOR LIABILITIES

(93,001

)

(97,006

)

NET ASSETS

1,035,017

1,007,038

CAPITAL AND RESERVES

Called up share capital

17,500

17,500

Revaluation reserve

8

540,730

552,056

Capital redemption reserve

7,500

7,500

Retained earnings

469,287

429,982

SHAREHOLDERS' FUNDS

1,035,017

1,007,038

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 22 April 2026 and were signed on its behalf by:

M A Collins - Director

1.	STATUTORY INFORMATION

Sherman & Waterman Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Turnover

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

Tangible fixed assets

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

Land and buildings

-

Over period of lease.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 September 2024

and 31 August 2025

1,512,103

DEPRECIATION

At 1 September 2024

560,635

Charge for year

16,019

At 31 August 2025

576,654

NET BOOK VALUE

At 31 August 2025

935,449

At 31 August 2024

951,468

The leasehold properties were revalued by the directors during the year ended 31 August 1996 on the basis of market value for existing use.The directors have elected for this valuation to be deemed cost.

If they had not been revalued they would have been included at the following:- cost £563,445 (2023 : £563,445) and depreciation £164,033 (2023: £159,340).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

180

-

Other debtors

39,084

38,807

39,264

38,807

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,480

10,224

Taxation and social security

18,021

22,288

Other creditors

219,637

133,132

248,138

165,644

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

10,500

8.

RESERVES

Revaluation

reserve

£

At 1 September 2024

552,056

Revaluation transfer

(11,326

)

At 31 August 2025

540,730

9.	RELATED PARTY DISCLOSURES

Sherman & Waterman Associates Properties Ltd

(shares directors and shareholders):

The amount owed by the company at the year end was £36,989 (2023: £36,976).

London & Birmingham Properties Ltd

(shares directors and shareholders)

The amount owed by the company at the year end was £459 (2023: £26).

Sherman & Waterman (Covent Garden) Ltd

(shares directors and shareholders):

The amount owed to the company at the year end was £126,269 (2023: £92,671).

During the year a service charge of £15,000 (2023: £20,000) was paid by Sherman & Waterman Covent Garden Ltd to Sherman & Waterman Associates Limited.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of it's board of directors, who between them own 100% of the issued share capital.