The Umbrella Company (Sheaf) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03948230 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

THE UMBRELLA COMPANY (SHEAF) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Reeve

Mrs J Herring

J D Fields

SECRETARY:

Mrs J Herring

REGISTERED OFFICE:

Portland Business Park

Richmond Park Road

Handsworth

Sheffield

South Yorkshire

S13 8HS

REGISTERED NUMBER:

03948230 (England and Wales)

AUDITORS:

Hollis and Co Limited

Chartered Accountants

Statutory Auditor

35 Wilkinson Street

Sheffield

South Yorkshire

S10 2GB

BANKERS:

HSBC Bank Plc

251 Fulwood Road

Broomhill

Sheffield

South Yorkshire

S10 3BE

SOLICITORS:

hlw Keeble Hawson

Commercial House

Commercial Street

Sheffield

S1 2AT

FIXED ASSETS

Tangible assets

5

189,305

207,628

CURRENT ASSETS

Stocks

624,265

681,149

Debtors

6

4,022,474

3,208,032

Cash at bank and in hand

273,127

140,910

4,919,866

4,030,091

CREDITORS

Amounts falling due within one year

7

1,578,506

1,479,901

NET CURRENT ASSETS

3,341,360

2,550,190

TOTAL ASSETS LESS CURRENT LIABILITIES

3,530,665

2,757,818

PROVISIONS FOR LIABILITIES

38,076

38,076

NET ASSETS

3,492,589

2,719,742

CAPITAL AND RESERVES

Called up share capital

10,001

10,001

Retained earnings

3,482,588

2,709,741

SHAREHOLDERS' FUNDS

3,492,589

2,719,742

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 Board of Directors on 17 October 2018 and were signed on its behalf by:

Mrs J Herring - Director

1.	STATUTORY INFORMATION

The Umbrella Company (Sheaf) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The figures in the financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

25% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2017 - 57 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2017

14,230

537,662

220,977

772,869

Additions

-

16,688

2,522

19,210

At 31 March 2018

14,230

554,350

223,499

792,079

DEPRECIATION

At 1 April 2017

14,230

397,581

153,430

565,241

Charge for year

-

23,518

14,015

37,533

At 31 March 2018

14,230

421,099

167,445

602,774

NET BOOK VALUE

At 31 March 2018

-

133,251

56,054

189,305

At 31 March 2017

-

140,081

67,547

207,628

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

966,610

795,910

Amounts owed by group undertakings

2,986,474

2,354,778

Other debtors

69,390

57,344

4,022,474

3,208,032

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

488,707

322,110

Taxation and social security

335,422

332,526

Other creditors

754,377

825,265

1,578,506

1,479,901

8.	SECURED DEBTS

HSBC Bank plc has a charge over contract monies dated 25 October 2011.

There is a Composite Company Limited Multilateral Guarantee dated 26 August 2016 given by The Umbrella

Newco (Sheaf) Ltd, The Umbrella Company (Sheaf) Holdings Limited and The Umbrella Company (Sheaf)

Limited to HSBC Bank plc.

There is a general letter of pledge to HSBC Bank plc dated 28 April 2008.

There is a Composite Company Limited Multilateral Guarantee dated 21 October 2011 given by The Umbrella

Company (Sheaf) Holdings Limited and The Umbrella Company (Sheaf) Limited to HSBC Bank plc

There is a debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge

over books and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating

Charge over all assets and undertaking both present and future dated 07 June 2000 to HSBC Bank plc

Shawn Hassack has a charge including a fixed charge, and a floating charge that covers all the property or

undertaking of the company dated 26 August 2016.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Hollis (Senior Statutory Auditor)

for and on behalf of Hollis and Co Limited

10.	PARENT UNDERTAKING

The company's ultimate parent undertaking is The Umbrella Newco (Sheaf) Ltd who's registered office is Unit

20 Richmond Park Road, Sheffield, South Yorkshire, England, S13 8HS