Sherman Securities Limited - Limited company accounts 18.2
Sherman Securities Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| Report of the Directors and |
| Financial Statements |
| for the Year Ended 28 February 2018 |
| for |
| Sherman Securities Limited |
| Sherman Securities Limited (Registered number: 01201116) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Statement of Comprehensive Income | 3 |
| Statement of Financial Position | 4 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| Sherman Securities Limited |
| Company Information |
| for the Year Ended 28 February 2018 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountant: |
| Chartered Certified Accountants |
| and Statutory Auditors |
| 110 Viglen House |
| Alperton |
| London |
| HA0 1HD |
| Sherman Securities Limited (Registered number: 01201116) |
| Report of the Directors |
| for the Year Ended 28 February 2018 |
| The directors present their report with the financial statements of the company for the year ended 28 February 2018. |
| Directors |
| The directors shown below have held office during the whole of the period from 1 March 2017 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to |
| small companies. |
| On behalf of the board: |
| Sherman Securities Limited (Registered number: 01201116) |
| Statement of Comprehensive Income |
| for the Year Ended 28 February 2018 |
| 28.2.18 | 28.2.17 |
| Notes | £ | £ |
| Turnover |
| Cost of sales | ( |
) | ( |
) |
| Gross profit |
| Administrative expenses | ( |
) | ( |
) |
| 309,981 | 303,740 |
| Other operating income |
| Operating profit |
| Interest receivable and similar income |
| Profit before taxation |
| Tax on profit | ( |
) | ( |
) |
| Profit for the financial year |
| Other comprehensive income |
| Investment properties | ( |
) |
| Income tax relating to other comprehensive income |
| Other comprehensive income For the year, net of income tax |
( |
) |
| Total comprehensive income for the year |
| Sherman Securities Limited (Registered number: 01201116) |
| Statement of Financial Position |
| 28 February 2018 |
| 28.2.18 | 28.2.17 |
| Notes | £ | £ |
| Assets |
| Fixed assets |
| Tangible assets | 3 |
| Investment properties | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| 7,922,180 | 7,720,980 |
| Capital, reserves and liabilities |
| Capital and reserves |
| Called up share capital | 6 |
| Retained earnings - non |
| distributable | 7 |
| Retained earnings |
| Shareholders' funds |
| Creditors | 8 |
| The directors acknowledge their 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. |
| Sherman Securities Limited (Registered number: 01201116) |
| Statement of Financial Position - continued |
| 28 February 2018 |
| The financial statements were approved by the Board of Directors on by: |
| Sherman Securities Limited (Registered number: 01201116) |
| Statement of Changes in Equity |
| for the Year Ended 28 February 2018 |
| Retained |
| Called up | earnings |
| share | Retained | - non | Total |
| capital | earnings | distributable | equity |
| £ | £ | £ | £ |
| Balance at 1 March 2016 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 28 February 2017 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - | ( |
) |
| Balance at 28 February 2018 |
| Sherman Securities Limited (Registered number: 01201116) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2018 |
| 1. | Accounting policies |
| Basis of preparing the financial statements |
| 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 |
| Motor vehicles | - |
| Investment properties |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
| in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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. |
| 2. | Employees and directors |
| The average number of employees during the year was |
| 3. | Tangible fixed assets |
| Motor |
| vehicles |
| £ |
| Cost or valuation |
| At 1 March 2017 |
| and 28 February 2018 |
| Depreciation |
| At 1 March 2017 |
| and 28 February 2018 |
| Net book value |
| At 28 February 2018 |
| At 28 February 2017 |
| Sherman Securities Limited (Registered number: 01201116) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2018 |
| 3. | Tangible fixed assets - continued |
| Cost or valuation at 28 February 2018 is represented by: |
| Motor |
| vehicles |
| £ |
| Valuation in 2018 | 7,000 |
| 4. | Investment properties |
| Total |
| £ |
| Fair value |
| At 1 March 2017 |
| Revaluations | (16,920 | ) |
| At 28 February 2018 |
| Net book value |
| At 28 February 2018 |
| At 28 February 2017 |
| Investment properties were valued on an open market basis by D A Sherman FRICS. |
| 5. | Debtors: amounts falling due within one year |
| 28.2.18 | 28.2.17 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28.2.18 | 28.2.17 |
| value: | £ | £ |
| Ordinary A | £1 | 126 | 126 |
| Ordinary B | £1 | 99 | 99 |
| Ordinary C | £1 | 449 | 449 |
| Ordinary D | £1 | 126 | 126 |
| 100 | Ordinary E | £1 | 100 | 100 |
| 100 | Ordinary F | £1 | 100 | 100 |
| 1,000 | 1,000 |
| Sherman Securities Limited (Registered number: 01201116) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2018 |
| 7. | Reserves |
| Retained |
| earnings |
| - non |
| distributable |
| £ |
| At 1 March 2017 |
| Revaluation reserve decrease | (16,920 | ) |
| At 28 February 2018 |
| 8. | Creditors: amounts falling due within one year |
| 28.2.18 | 28.2.17 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 3,327 | 5,359 |
| Other creditors |
| Directors' current accounts | 423,644 | 343,340 |
| Accrued expenses |
| 9. | Related party disclosures |
| Sherman Securities Limited had the following related party transactions with D A S Executive Pension Scheme |
| which is a self-administered pension fund with the following as trustees and members D A Sherman, M |
| Sherman, E Sherman and S Hopkins: |
| Sherman Securities Limited charged D A S Executive Pension Scheme £2,097 in respect of insurance |
| premiums recharged.. |