Sherford Properties Limited - Period Ending 2018-09-30

Registration number: 02228813

Sherford Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

Sherford Properties Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 4

Sherford Properties Limited

(Registration number: 02228813)
Statement of Financial Position as at 30 September 2018

	Note	2018 £	2017 £
Current assets
Stocks	4	2,795,197	2,795,589
Debtors	5	127,699	54,761
Cash at bank and in hand		194,405	92,311
		3,117,301	2,942,661
Creditors: Amounts falling due within one year	6	(643,214)	(698,782)
Net assets		2,474,087	2,243,879
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		2,474,085	2,243,877
Total equity		2,474,087	2,243,879

For the financial year ending 30 September 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 26 June 2019 and signed on its behalf by:
 

.........................................

J D Venables
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Sherford Properties Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 5
Strong House
The Horsefair
Romsey
Hampshire
SO51 8EZ
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2017 - 7).

Page 2

Sherford Properties Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

4

Stocks

	2018 £	2017 £
Other inventories	2,795,197	2,795,589

Page 3

Sherford Properties Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

5

Debtors

	Note	2018 £	2017 £
Trade debtors		41,408	23,945
Amounts owed by group undertakings and undertakings in which the company has a participating interest		82,369	-
Prepayments		3,922	3,709
Other debtors		-	27,107
		127,699	54,761

6

Creditors

Creditors: amounts falling due within one year

	Note	2018  £	2017  £
Due within one year
Trade creditors		5	17
Taxation and social security		1,027	-
Other creditors		642,182	698,765
		643,214	698,782

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £0.02 each	100	2.00	100	2.00

Page 4