Shepherd Defence Solutions Limited - Period Ending 2015-12-31

SHEPHERD DEFENCE SOLUTIONS LTD - Company Information

Registration number: 04651460

Shepherd Defence Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015

Makinson & Co.
Chartered Accountants
1 Hill Street
Lydney
Glos
GL15 5HB

Shepherd Defence Solutions Limited

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 5

Shepherd Defence Solutions Limited

(Registration number: 04651460)
Abbreviated Balance Sheet as at 31 December 2015

	Note	2015 £	2014 £
Fixed assets
Tangible assets	2	18,063	24,214
Current assets
Debtors		95,409	83,702
Cash at bank and in hand		10,305	-
		105,714	83,702
Creditors: Amounts falling due within one year	3	(66,355)	(61,634)
Net current assets		39,359	22,068
Total assets less current liabilities		57,422	46,282
Creditors: Amounts falling due after more than one year	3	(16,083)	(18,621)
Provisions for liabilities		(1,205)	(2,226)
Accruals and deferred income		(2,223)	(2,429)
Net assets		37,911	23,006
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		37,811	22,906
Shareholders funds		37,911	23,006

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Shepherd Defence Solutions Limited

(Registration number: 04651460)
Abbreviated Balance Sheet as at 31 December 2015

For the year ending 31 December 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 30 September 2016

.........................................
Mr PJ Shepherd
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Shepherd Defence Solutions Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:

Asset class	Depreciation method and rate
Other tangible assets	20% to 33.33% straight line

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Hire purchase and leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account.

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Shepherd Defence Solutions Limited

Notes to the Abbreviated Accounts

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

Fixed assets

	Tangible assets £	Total £
Cost
At 1 January 2015	56,664	56,664
Additions	216	216
Disposals	(2,272)	(2,272)
At 31 December 2015	54,608	54,608
Depreciation
At 1 January 2015	32,450	32,450
Charge for the year	6,367	6,367
Eliminated on disposals	(2,272)	(2,272)
At 31 December 2015	36,545	36,545
Net book value
At 31 December 2015	18,063	18,063
At 31 December 2014	24,214	24,214

Creditors

Included in the creditors are the following amounts due after more than five years:

	2015 £	2014 £
After more than five years by instalments	4,276	7,477

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Shepherd Defence Solutions Limited

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	2015		2014
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Related party transactions

Transactions with directors

2015	At 1 January 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 December 2015 £
Mr PJ Shepherd
Loan	72,900	75,970	(64,264)	-	84,606

2014	At 1 January 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 December 2014 £
Mr PJ Shepherd
Loan	87,243	66,400	(80,743)	-	72,900

Control

The director is the controlling party by virtue of his controlling shareholding in the company.

Page 5