Shepherds Footwear Limited - Accounts to registrar (filleted) - small 18.1

Shepherds Footwear Limited - Accounts to registrar (filleted) - small 18.1

SHEPHERDS FOOTWEAR LIMITED - Company Information

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REGISTERED NUMBER: 04555279 (England and Wales)















Financial Statements for the Year Ended 31 October 2017

for

Shepherds Footwear Limited
Shepherds Footwear Limited (Registered number: 04555279)






Contents of the Financial Statements
for the Year Ended 31 October 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shepherds Footwear Limited

Company Information
for the Year Ended 31 October 2017







DIRECTOR: K Shepherd





REGISTERED OFFICE: Low Gables
Foxhill Drive
Weetwood
Leeds
West Yorkshire
LS16 5PG





REGISTERED NUMBER: 04555279 (England and Wales)





ACCOUNTANTS: WHS Accountants Chartered Accountants
2nd Floor Woodside House
261 Low Lane
Horsforth
West Yorkshire
LS18 5NY
Page 1
Shepherds Footwear Limited (Registered number: 04555279)

Balance Sheet
31 October 2017

31.10.17 31.10.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125 167
Investment property 5 750,000 755,000
750,125 755,167

CURRENT ASSETS
Debtors 6 16,225 16,225
Cash at bank 102,308 51,678
118,533 67,903
CREDITORS
Amounts falling due within one year 7 50,885 48,523
NET CURRENT ASSETS 67,648 19,380
TOTAL ASSETS LESS CURRENT
LIABILITIES
817,773
774,547

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve (33,795 ) (28,795 )
Retained earnings 851,468 803,242
SHAREHOLDERS' FUNDS 817,773 774,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
Shepherds Footwear Limited (Registered number: 04555279)

Balance Sheet - continued
31 October 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 July 2018 and were signed by:





K Shepherd - Director


The notes form part of these financial statements

Page 3
Shepherds Footwear Limited (Registered number: 04555279)

Notes to the Financial Statements
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Shepherds Footwear 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 October 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance
with UK GAAP, the date of transition to FRS 102 Section 1A is 1 November 2015.

Turnover
Turnover represents rents receivable during the year, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office fixtures and fittings - 25% on reducing balance

Investment property
In accordance with Financial Reporting Standard FRS 102 (Section 1A) no depreciation is provided
for in respect of the properties held as investments.This is a departure from the requirements of the
Companies Act 2006 which requires that all properties be depreciated. Such properties are held for
their investment potential and not for consumption within the business. The director considers that to
depreciate them would not enable the financial statements to give a true and fair view. Depreciation is
only one of the many elements reflected in the annual valuation of properties and accordingly the
amount of depreciation that might otherwise have been charged cannot be separately identified or
quantified. The director considers that this policy results in the accounts giving a true and fair view.

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are
initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
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.


Page 4 continued...
Shepherds Footwear Limited (Registered number: 04555279)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4. TANGIBLE FIXED ASSETS
Office
fixtures
and
fittings
£   
COST
At 1 November 2016
and 31 October 2017 1,227
DEPRECIATION
At 1 November 2016 1,060
Charge for year 42
At 31 October 2017 1,102
NET BOOK VALUE
At 31 October 2017 125
At 31 October 2016 167

Page 5 continued...
Shepherds Footwear Limited (Registered number: 04555279)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2016 755,000
Revaluations (5,000 )
At 31 October 2017 750,000
NET BOOK VALUE
At 31 October 2017 750,000
At 31 October 2016 755,000

Fair value at 31 October 2017 is represented by:

£   
Valuation in 2014 (8,795 )
Valuation in 2015 (75,000 )
Valuation in 2016 55,000
Valuation in 2017 (5,000 )
Cost 783,795
750,000

If investment property had not been revalued it would have been included at the following historical
cost:

31.10.17 31.10.16
£    £   
Cost 783,795 783,795

Investment property was valued on an open market basis on 31 October 2017 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£    £   
Trade debtors 16,225 16,225

Page 6 continued...
Shepherds Footwear Limited (Registered number: 04555279)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£    £   
Corporation tax 11,648 12,009
Rent in advance 4,055 4,054
Director's loan account 34,039 31,317
Accrued expenses 1,143 1,143
50,885 48,523

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Shepherd.

Page 7