Graham Sherling & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07110953

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

GRAHAM SHERLING & CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G C Sherling

SECRETARY:

Mrs B S Sherling

REGISTERED OFFICE:

36 The Avenue

Hatch End

Middlesex

HA5 4EY

REGISTERED NUMBER:

07110953

ACCOUNTANTS:

Graham Sherling and Co

36 The Avenue

Hatch End

Middlesex

HA5 4EY

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

369

552

370

553

CURRENT ASSETS

Stocks

6,372

5,325

Debtors

6

27,711

25,542

Cash at bank

119,434

97,343

153,517

128,210

CREDITORS

Amounts falling due within one year

7

23,165

23,858

NET CURRENT ASSETS

130,352

104,352

TOTAL ASSETS LESS CURRENT LIABILITIES

130,722

104,905

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

130,622

104,805

SHAREHOLDERS' FUNDS

130,722

104,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2020 and were signed by:

G C Sherling - Director

1.	STATUTORY INFORMATION

Graham Sherling & Co Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings - 20% straight line

Stocks

Work in progress is valued at selling price.

Taxation

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

145,000

AMORTISATION

At 1 April 2019

and 31 March 2020

144,999

NET BOOK VALUE

At 31 March 2020

1

At 31 March 2019

1

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

2,589

DEPRECIATION

At 1 April 2019

2,037

Charge for year

183

At 31 March 2020

2,220

NET BOOK VALUE

At 31 March 2020

369

At 31 March 2019

552

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

23,375

21,385

Other debtors

4,336

4,157

27,711

25,542

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

-

2

Taxation and social security

20,821

20,203

Other creditors

2,344

3,653

23,165

23,858

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr G Sherling.