Company Registration No. 04605685 (England and Wales)
Sharp & Sharp Limited
Unaudited accounts
for the year ended 31 March 2020
Sharp & Sharp Limited
Unaudited accounts
Contents
Sharp & Sharp Limited
Company Information
for the year ended 31 March 2020
Company Number
04605685 (England and Wales)
Registered Office
Blashy Nook
Main Street, Stainforth
Settle
Nort Yorkshire
BD24 9PE
Accountants
Pearson & Associates
Suite E, Canal Wharf
Eshton Road
Gargrave, Skipton
North Yorkshire
BD23 3SE
Sharp & Sharp Limited
Statement of financial position
as at 31 March 2020
Tangible assets
13,056
17,408
Cash at bank and in hand
15,458
49,506
Creditors: amounts falling due within one year
(31,197)
(46,920)
Net current (liabilities)/assets
(8,639)
2,586
Total assets less current liabilities
4,417
19,994
Provisions for liabilities
Deferred tax
(2,481)
(3,307)
Called up share capital
100
100
Profit and loss account
1,836
16,587
Shareholders' funds
1,936
16,687
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 June 2020 and were signed on its behalf by
A Sharp
Director
Company Registration No. 04605685
Sharp & Sharp Limited
Notes to the Accounts
for the year ended 31 March 2020
Sharp & Sharp Limited is a private company, limited by shares, registered in England and Wales, registration number 04605685. The registered office is Blashy Nook, Main Street, Stainforth, Settle, Nort Yorkshire, BD24 9PE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Sharp & Sharp Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
27,064
4,284
2,863
34,211
At 31 March 2020
27,064
4,284
2,863
34,211
At 1 April 2019
10,447
3,493
2,863
16,803
Charge for the year
4,154
198
-
4,352
At 31 March 2020
14,601
3,691
2,863
21,155
At 31 March 2020
12,463
593
-
13,056
At 31 March 2019
16,617
791
-
17,408
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Creditors: amounts falling due within one year
2020
2019
Taxes and social security
1,041
9,771
Loans from directors
30,156
37,149
7
Average number of employees
During the year the average number of employees was 2 (2019: 3).
