S_Sheals__Son_Limited_31_Aug_2025_companies_house_set_of

		2025	2024
Turnover		1,858,868		1,731,279
Cost of sales		(1,447,301	)	(1,367,788	)
Gross profit		411,567		363,491
Administrative expenses		(314,925	)	(240,443	)
Operating profit		96,642		123,048
Interest payable and similar expenses		(4,689	)	(4,815	)
Profit before tax	4	91,953		118,233
Tax on profit		(30,642	)	(29,995	)
Profit for the financial year		61,311		88,238

	2025	2024
Retained earnings at the start of the year	1,139,990		1,080,102
Profit for the financial year	61,311		88,238
Dividends declared and paid or payable during the year	(37,700	)	(28,350	)
Retained earnings at the end of the year	1,163,601		1,139,990

		2025	2024
Fixed assets
Intangible assets	6	239,308		239,308
Tangible assets	7	526,788		564,615
		766,096		803,923
Current assets
Stocks		100,116		150,000
Debtors	8	485,777		366,639
Cash at bank and in hand		111,365		40,848
		697,258		557,487
Creditors: amounts falling due within one year	9	(295,941	)	(193,679	)
Net current assets		401,317		363,808
Total assets less current liabilities		1,167,413		1,167,731
Creditors: amounts falling due after more than one year	10	(3,810	)	(27,739	)
Net assets		1,163,603		1,139,992
Capital and reserves
Called up share capital		2		2
Profit and loss account		1,163,601		1,139,990
Shareholders funds		1,163,603		1,139,992

S Sheals & Son Limited

Notes to the Financial Statements

Year ended

31 August 2025

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is

10 - 12 Windsor Avenue

Newtownards

BT23 4QH

, United Kingdom.

2 Statement of compliance

These

financial statements

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

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.

Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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

Goodwill

nil

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Profit before tax

Profit before tax is stated after charging/(crediting):

	2025		2024
	£		£
Depreciation of tangible assets	37,827		38,131

5 Average number of employees

The average number of persons employed by the company during the year was

(2024:

24.00

6 Intangible assets

	Goodwill
	£
Cost
At 1 September 2024 and 31 August 2025	239,308
Amortisation
At 1 September 2024 and 31 August 2025	-
Carrying amount
At 31 August 2025	239,308
At 31 August 2024	239,308

7 Tangible assets

	Land and buildings	Plant and machinery etc.	Total
	£	£	£
Cost
At 1 September 2024 and 31 August 2025	413,306	392,342	805,648
Depreciation
At 1 September 2024	-	241,033	241,033
Charge	-	37,827	37,827
At 31 August 2025	-	278,860	278,860
Carrying amount
At 31 August 2025	413,306	113,482	526,788
At 31 August 2024	413,306	151,309	564,615

8 Debtors

	2025		2024
	£		£
Trade debtors	485,777		366,639

9 Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	25,867	29,555
Trade creditors	131,206	78,336
Taxation and social security	111,024	62,866
Other creditors	27,844	22,922
	295,941	193,679

10 Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans and overdrafts	3,810		27,739



Mr Ryan Sheals	Mr Christopher Sheals
Director	Director



Mr Ryan Sheals	Mr Christopher Sheals
Director	Director

Directors

Small company provisions

1 General information

2 Statement of compliance

3 Accounting policies

Basis of preparation

Turnover

Current tax

Goodwill

Intangible assets

Tangible assets

Impairment

Stocks

Financial instruments

Defined contribution pension plan

4 Profit before tax

5 Average number of employees

6 Intangible assets

7 Tangible assets

8 Debtors

9 Creditors: amounts falling due within one year

10 Creditors: amounts falling due after more than one year

Accountant	Heron Accountancy Solutions
	301 City East Business Centre 68-72 Newtownards Road Belfast Down BT4 1GW United Kingdom

		2025		2024
	Note	£		£
Turnover		1,858,868		1,731,279
Cost of sales		(1,447,301	)	(1,367,788	)
Gross profit		411,567		363,491
Administrative expenses		(314,925	)	(240,443	)
Operating profit		96,642		123,048
Interest payable and similar expenses		(4,689	)	(4,815	)
Profit before tax	4	91,953		118,233
Tax on profit		(30,642	)	(29,995	)
Profit for the financial year		61,311		88,238