E.A.Sheardown & Company Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 00567569 (England and Wales)

E.A.SHEARDOWN & COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mrs N Beckett

Miss B Beckett

R Beckett

Mrs N A Beckett

SECRETARY:

V A Moore-Jones

REGISTERED OFFICE:

Westfield Farm

Stonepit Lane

Marston

Grantham

Lincolnshire

NG32 2JH

REGISTERED NUMBER:

00567569 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank Plc

88 Westgate

Grantham

Lincolnshire

NG31 6LF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,464,535

3,148,751

Investments

6

653,764

645,531

4,118,299

3,794,282

CURRENT ASSETS

Valuation

334,554

267,289

Debtors

7

141,417

130,110

Cash at bank and in hand

1,373,965

1,616,446

1,849,936

2,013,845

CREDITORS

Amounts falling due within one year

8

532,361

589,206

NET CURRENT ASSETS

1,317,575

1,424,639

TOTAL ASSETS LESS CURRENT LIABILITIES

5,435,874

5,218,921

CREDITORS

Amounts falling due after more than one year

9

(60,500

)

-

PROVISIONS FOR LIABILITIES

(89,123

)

(87,739

)

NET ASSETS

5,286,251

5,131,182

CAPITAL AND RESERVES

Called up share capital

11

114,589

114,589

Share premium

707,069

707,069

Retained earnings

4,464,593

4,309,524

SHAREHOLDERS' FUNDS

5,286,251

5,131,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 3 October 2022 and were signed on its behalf by:

R Beckett - Director

1.	STATUTORY INFORMATION

E.A.Sheardown & Company 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.

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 for sales of produce and contract work, excluding value added tax.

Sales of produce are recognised upon despatch and contract work is recognised on the day services are provided.

Intangible assets

Intangible assets consisted of entitlements to the basic payment scheme. The entitlements were recognised at fair value and written off on a straight line basis over the period to 31 December 2019.

Tangible fixed assets

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

Land and buildings

- Land - Nil, Buildings - 4% on cost

Plant and machinery etc

- 10-25% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Valuation

The valuation has been professionally prepared by Messrs Escritt Barrell Golding, at the lower of cost and fair value less costs to sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 self-administered defined contribution pension scheme to provide for retirement benefits for directors and an external defined contribution scheme for employees. Contributions are charged to the income statement as incurred.

Fixed asset investments

Fixed asset investments are recognised at the lower of cost and fair value.

Basic payment

The Basic Payment is recognised in the financial statements in accordance with H. M. Revenue and Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2021

and 31 March 2022

144,049

AMORTISATION

At 1 April 2021

and 31 March 2022

144,049

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

2,938,907

2,178,864

5,117,771

Additions

201,696

451,563

653,259

Disposals

-

(119,500

)

(119,500

)

At 31 March 2022

3,140,603

2,510,927

5,651,530

DEPRECIATION

At 1 April 2021

498,850

1,470,170

1,969,020

Charge for year

28,644

283,825

312,469

Eliminated on disposal

-

(94,494

)

(94,494

)

At 31 March 2022

527,494

1,659,501

2,186,995

NET BOOK VALUE

At 31 March 2022

2,613,109

851,426

3,464,535

At 31 March 2021

2,440,057

708,694

3,148,751

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2021

645,531

Reversal of impairments

8,233

At 31 March 2022

653,764

NET BOOK VALUE

At 31 March 2022

653,764

At 31 March 2021

645,531

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

86,610

57,167

Other debtors

14,685

27,593

Prepayments and accrued income

40,122

45,350

141,417

130,110

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

30,250

10,063

Trade creditors

208,116

338,188

Corporation tax

-

289

Social security and other taxes

38,742

20,572

Other creditors

100,519

105,576

Directors' current accounts

119,829

87,093

Accruals and deferred income

34,905

27,425

532,361

589,206

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

60,500

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

90,750

10,063

Hire purchase contracts are secured on the asset to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

112,589

Ordinary

£1

112,589

112,589

2,000

Preference

£1

2,000

2,000

114,589

114,589

The Preference shares are non redeemable and any dividends payable are at the discretion of the company.

12.	OTHER FINANCIAL COMMITMENTS

At the year end the company had commitments due as follows:

2022

2021

£

£

Within one year

22,821

44,615

Between one and five years

-

22,821

22,821

67,436