Shergroup Limited
Shergroup Limited
Registered number: 04771589
Financial Statements
For The Year Ended
30 November 2020
Shergroup Limited
Financial Statements
For The Year Ended
30 November 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—6 |
Shergroup Limited
Statement of Financial Position
As at
30 November 2020
Statement of Financial Position
Registered number:
04771589
For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 639,059 | 635,641 | |||
Page 1
Shergroup Limited
Statement of Financial Position (continued)
As at
30 November 2020
Directors' responsibilities:
-
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Shergroup Limited
Notes to the Financial Statements
For The Year Ended
30 November 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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1.5.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2020 | 2019 | ||
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| Office and administration |
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Page 3
Shergroup Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2020
3.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
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| As at
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| Amortisation | |||
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| Provided during the period |
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| As at
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| Net Book Value | |||
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| As at
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4.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| As at
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| Depreciation | |||
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |||
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Page 4
Shergroup Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2020
5.
Investments
| Other | |
|---|---|
| £ | |
| Cost | |
| As at
|
68,153 |
| As at
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68,153 |
| Provision | |
| As at
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- |
| As at
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| Net Book Value | |
| As at
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68,153 |
| As at
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68,153 |
6.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Amounts owed by participating interests | 56,497 | 56,597 | |
| Other debtors | 3,247,126 | 2,657,432 | |
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7.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Amounts owed to participating interests | 2,607,967 | 2,165,462 | |
| Other creditors | 556,159 | 445,856 | |
| Taxation and social security | 197,313 | 130,505 | |
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Page 5
Shergroup Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2020
8.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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10.
Ultimate Controlling Party
The company's ultimate controlling party is
Mrs C. Sandbrook
by virtue of her ownership of 100% of the issued share capital in the company.
11.
General Information
Shergroup Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04771589
. The registered office is Prospect House, 28 Great Melton Road, Norwich, Norfolk, NR9 3AB.
Page 6