Shergroup Limited
Shergroup Limited
Registered number: 04771589
Financial Statements
For the Period
1 December 2021
to
31 May 2023
Shergroup Limited
Financial Statements
For the Period
1 December 2021
to
31 May 2023
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
31 May 2023
Statement of Financial Position
Registered number:
04771589
For the period ending 31 May 2023 the company was entitled to exemption from audit 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 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.
| 31 May 2023 | 30 November 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| Investments | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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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 | 9 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 649,638 | 644,476 | |||
Shergroup Limited
Statement of Financial Position (continued)
As At
31 May 2023
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.
Shergroup Limited
Notes to the Financial Statements
For the Period
1 December 2021
to
31 May 2023
Notes to the Financial Statements
1.
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.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
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.
2.3.
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 20 years.
2.4.
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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2.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Shergroup Limited
Notes to the Financial Statements (continued)
For the Period
1 December 2021
to
31 May 2023
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is not recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit as the directors do not anticipate a material deferred tax liability or asset arising in the forseeable future.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.7.
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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2021: 12)
4.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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Shergroup Limited
Notes to the Financial Statements (continued)
For the Period
1 December 2021
to
31 May 2023
5.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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6.
Investments
| Other | |
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| Cost | |
| As at
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| Disposals |
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| Provision | |
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| Net Book Value | |
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Shergroup Limited
Notes to the Financial Statements (continued)
For the Period
1 December 2021
to
31 May 2023
7.
Debtors
| 31 May 2023 | 30 November 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Amounts owed by participating interests | - | 71,893 | |
| Other debtors | 3,821,761 | 3,482,960 | |
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8.
Creditors: Amounts Falling Due Within One Year
| 31 May 2023 | 30 November 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Amounts owed to participating interests |
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| Other creditors | 13,173 | 237,277 | |
| Taxation and social security |
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9.
Creditors: Amounts Falling Due After More Than One Year
| 31 May 2023 | 30 November 2021 | ||
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| £ | £ | ||
| Bank loans |
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10.
Secured Creditors
The Bank loan is secured by nature of a floating charge against all assets of the company.
Of the creditors the following amounts are secured.
| 31 May 2023 | 30 November 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 350,000 | 350,000 | |
| Other Creditors | 98,948 | 28,735 |