Shepherd Defence Solutions Limited - Period Ending 2013-12-31

Registration number: 04651460

Shepherd Defence Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Makinson & Co.
Chartered Accountants
1 Hill Street
Lydney
Glos
GL15 5HB

Shepherd Defence Solutions Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Shepherd Defence Solutions Limited
(Registration number: 04651460)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			28,834			38,286
Current assets
Debtors					98,045			63,639
Cash at bank and in hand					808			2
					98,853			63,641
Creditors: Amounts falling due within one year					(65,396)			(49,552)
Net current assets					33,457			14,089
Total assets less current liabilities					62,291			52,375
Creditors: Amounts falling due after more than one year					(41,215)			(52,017)
Net assets					21,076			358
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					20,976			258
Shareholders' funds					21,076			358

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Shepherd Defence Solutions Limited
(Registration number: 04651460)
Abbreviated Balance Sheet at 31 December 2013
......... continued

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 18 July 2014

.........................................
Mr PJ Shepherd
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Shepherd Defence Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:

Asset class	Depreciation method and rate
Other tangible assets	20% to 33.33% straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Hire purchase and leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account.

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

Page 3

Shepherd Defence Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		76,088			76,088
Additions		991			991
At 31 December 2013		77,079			77,079
Depreciation
At 1 January 2013		37,802			37,802
Charge for the year		10,443			10,443
At 31 December 2013		48,245			48,245
Net book value
At 31 December 2013		28,834			28,834
At 31 December 2012		38,286			38,286

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2013 £			2012 £
Amounts falling due within one year		7,723			7,864
Amounts falling due after more than one year		20,183			28,706
Total secured creditors		27,906			36,570

Included in the creditors are the following amounts due after more than five years:

		2013 £			2012 £
After more than five years by instalments		10,504			13,365

Page 4

Shepherd Defence Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Director's advances and credits

	2013 Advance/ Credit £	2013 Repaid £	2012 Advance/ Credit £	2012 Repaid £
Mr PJ Shepherd
Loan	57,881	28,847	64,497	62,342

Page 5