Sheedy Limited - Accounts to registrar (filleted) - small 18.2

Sheedy Limited - Accounts to registrar (filleted) - small 18.2

SHEEDY LIMITED - Company Information

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REGISTERED NUMBER: 12361070 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Sheedy Limited
Sheedy Limited (Registered number: 12361070)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Sheedy Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: S Horgan





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 12361070 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
Page 1
Sheedy Limited (Registered number: 12361070)

Abridged Balance Sheet
31 December 2021

2021 2020
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 8,171 -
Investments 4 290,982 -
299,153 -

CURRENT ASSETS
Debtors 387,862 299,064
Cash at bank 2,726,404 491,257
3,114,266 790,321
CREDITORS
Amounts falling due within one year 738,303 236,234
NET CURRENT ASSETS 2,375,963 554,087
TOTAL ASSETS LESS CURRENT LIABILITIES 2,675,116 554,087

CAPITAL AND RESERVES
Called up share capital 5 1 1
Retained earnings 2,675,115 554,086
SHAREHOLDERS' FUNDS 2,675,116 554,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 3 October 2022 and were signed by:



S Horgan - Director


The notes form part of these financial statements

Page 2
Sheedy Limited (Registered number: 12361070)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Fixed asset investments
Fixed asset investments are shown at current market value.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

Page 3 continued...
Sheedy Limited (Registered number: 12361070)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 9,079
At 31 December 2021 9,079
AMORTISATION
Amortisation for year 908
At 31 December 2021 908
NET BOOK VALUE

At 31 December 2021 8,171

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
Additions 300,000
Disposals (9,000 )
Revaluations (18 )
At 31 December 2021 290,982
NET BOOK VALUE
At 31 December 2021 290,982

Cost or valuation at 31 December 2021 is represented by:
Totals
£   
Valuation in 2021 290,982

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: as restated
£    £   
1 Ordinary 1 1 1

Page 4 continued...
Sheedy Limited (Registered number: 12361070)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2021 and the period ended 31 December 2020:

2021 2020
as restated
£    £   
S Horgan
Balance outstanding at start of year 6,769 -
Amounts advanced 971,900 504,943
Amounts repaid (754,785 ) (498,174 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 223,884 6,769

Interest has been charged on the loan at the HMRC official rate of interest. The loan has been provided with no fixed repayment terms and with no security. the loan was repaid within 9 months of the year end.

Page 5