Shepherd Investments Limited - Accounts to registrar (filleted) - small 18.2

Shepherd Investments Limited - Accounts to registrar (filleted) - small 18.2

SHEPHERD INVESTMENTS LIMITED - Company Information

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REGISTERED NUMBER: 06722857 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2019

for

Shepherd Investments Limited

Shepherd Investments Limited (Registered number: 06722857)






Contents of the Financial Statements
for the Year Ended 31 October 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Shepherd Investments Limited

Company Information
for the Year Ended 31 October 2019







DIRECTORS: D G Shepherd
J G Shepherd
J W G Shepherd
R A J Shepherd





REGISTERED OFFICE: No.1 Velocity
2 Tenter Street
Sheffield
South Yorkshire
S1 4BY





REGISTERED NUMBER: 06722857 (England and Wales)
Page 1
Shepherd Investments Limited (Registered number: 06722857)

Balance Sheet
31 October 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,534,264 3,534,264

CURRENT ASSETS
Debtors 5 20,719 23,196
Cash at bank 2,333,666 1,543,079
2,354,385 1,566,275
CREDITORS
Amounts falling due within one year 6 3,691,685 3,096,986
NET CURRENT LIABILITIES (1,337,300 ) (1,530,711 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,196,964
2,003,553

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 1,996,964 1,803,553
SHAREHOLDERS' FUNDS 2,196,964 2,003,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2020 and were
signed on its behalf by:





J G Shepherd - Director


The notes form part of these financial statements

Page 2
Shepherd Investments Limited (Registered number: 06722857)

Notes to the Financial Statements
for the Year Ended 31 October 2019

1. STATUTORY INFORMATION

Shepherd Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investment property
The company's properties are held for long-term investment. Investment properties are accounted for in
accordance with the FRS 102 Section 1A, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or
deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal,
on an individual investment property is expected to be permanent, in which case it is recognised in the profit and
loss account for the year.

This treatment with regards to the company's investment properties may be a departure from the requirements of
the Companies Act concerning the depreciation of fixed assets. However, the treatment is necessary to give a
true and fair view in accordance with the FRS 102 Section 1A.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, 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.

Going concern
Specifically in connection with the current economic climate, the directors have considered the impact of
COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue
trading for at least the next twelve months. For this reason the financial statements have been prepared on a
going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

Page 3 continued...
Shepherd Investments Limited (Registered number: 06722857)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2019

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2018
and 31 October 2019 3,534,264
NET BOOK VALUE
At 31 October 2019 3,534,264
At 31 October 2018 3,534,264

The investment property class fixed assets was revalued on 31 October 2019 by the director who is an officer of
the company. The basis of this valuation was at open market value. The three properties held were purchased
on 23 April 2009, 13 August 2009 and 1 July 2016. The director confirms that the total historical cost of
£3,534,264 represents the total current value of the properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 20,719 23,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other loans 1,880,000 1,280,000
Trade creditors 8,460 -
Corporation tax 47,609 61,070
Social security and other taxes 11,819 12,229
Directors' current accounts 1,700,000 1,700,000
Accrued expenses & deferred income 43,797 43,687
3,691,685 3,096,986

7. RELATED PARTY DISCLOSURES

At the year end the following loan balances were owed by the company to the director's trusts:

2019 2018
£    £   
D G Shepherd Trust 680,000 680,000
J W G Shepherd Trust 600,000 600,000
R A J Shepherd Trust 600,000 -

No interest is charged on these balances.

8. POST BALANCE SHEET EVENTS

One of the investment properties with a current value of £1,568,839 as at 31 October 2019, has since been sold
by the company on 3 January 2020.

Page 4