Abbreviated Company Accounts - SHARROW LIMITED

06210800 SHARROW LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 06210800 2013-08-01 2014-07-31 06210800 2014-07-31 06210800 2013-07-31 06210800 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 06210800 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2014-07-31 uk-gaap-cd-bus:Director3 2013-07-31 uk-gaap-cd-bus:Director4 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director4 2014-07-31 uk-gaap-cd-bus:Director4 2013-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-07-31 iso4217:GBP shares

Registered Number 06210800

SHARROW LIMITED

Abbreviated Accounts

31 July 2014

SHARROW LIMITED Registered Number 06210800

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	55,000	75,000
Tangible assets	3	133,625	134,140
		188,625	209,140
Current assets
Stocks		14,074	12,901
Debtors		325,737	158,693
Cash at bank and in hand		4,436	8,492
		344,247	180,086
Creditors: amounts falling due within one year		(240,646)	(194,584)
Net current assets (liabilities)		103,601	(14,498)
Total assets less current liabilities		292,226	194,642
Creditors: amounts falling due after more than one year		(108,437)	(34,428)
Provisions for liabilities		(208)	-
Total net assets (liabilities)		183,581	160,214
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		183,481	160,114
Shareholders' funds		183,581	160,214

For the year ending 31 July 2014 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 directors acknowledge their 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 Board on 17 April 2015

And signed on their behalf by:
MRS R D H MUNSHI, Director

SHARROW LIMITED Registered Number 06210800

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation 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:

Fixtures and Fittings - 15% reducing balance
Equipment - 25% reducing balance

Intangible assets amortisation policy
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 - over 10 years on cost

Valuation information and policy
Stock

Stocks are valued at the lower of cost and net recoverable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Intangible fixed assets

	£
Cost
At 1 August 2013	200,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	200,000
Amortisation
At 1 August 2013	125,000
Charge for the year	20,000
On disposals	-
At 31 July 2014	145,000
Net book values
At 31 July 2014	55,000
At 31 July 2013	75,000

3Tangible fixed assets

	£
Cost
At 1 August 2013	141,822
Additions	393
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	142,215
Depreciation
At 1 August 2013	7,682
Charge for the year	908
On disposals	-
At 31 July 2014	8,590
Net book values
At 31 July 2014	133,625
At 31 July 2013	134,140

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
97 Ordinary shares of £1 each	97	97
3 A Ordinary shares of £1 each	3	3

All shares rank pari passu with the exception of the right to receive dividends

5Transactions with directors

Name of director receiving advance or credit:	MRS R D H MUNSHI
Description of the transaction:	Advances to Mr Hunter and Mrs Munshi - current year
Balance at 1 August 2013:	-
Advances or credits made:	£ 172,796
Advances or credits repaid:	-
Balance at 31 July 2014:	£ 172,796

Name of director receiving advance or credit:	MRS R D H Munshi
Description of the transaction:	Advances to Mr Hunter and Mrs Munshi - prior year
Balance at 1 August 2013:	£ 126,279
Advances or credits made:	-
Advances or credits repaid:	£ 126,279
Balance at 31 July 2014:	£ 0

All balances were cleared within nine months of the relevant period end.

Interest was charged on overdrawn balances at the statutory rate.