REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Sharpfibre Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Sharpfibre Limited |
Sharpfibre Limited (Registered number: 02149000) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Income Statement | 2 |
Balance Sheet | 3 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
Sharpfibre Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Brooms Professional Services Limited |
Chartered Certified Accountants |
Broom House |
39/43 London Road |
Hadleigh, Benfleet |
Essex |
SS7 2QL |
BANKERS: |
47-51 New London Road |
Chelmsford |
Essex |
CM99 1AT |
Sharpfibre Limited (Registered number: 02149000) |
Income Statement |
for the Year Ended 31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
3,920,719 | 1,824,296 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
3,930,326 | 2,139,394 |
Gain/loss on revaluation of investments | (21,539 | ) | - |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
Sharpfibre Limited (Registered number: 02149000) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Sharpfibre Limited (Registered number: 02149000) |
Balance Sheet - continued |
31 December 2022 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Sharpfibre Limited (Registered number: 02149000) |
Statement of Changes in Equity |
for the Year Ended 31 December 2022 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 January 2021 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2021 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2022 |
Sharpfibre Limited (Registered number: 02149000) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Sharpfibre Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced work done, adjusted for amounts recoverable on contracts. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete 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. |
Sharpfibre Limited (Registered number: 02149000) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.12.22 | 31.12.21 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 January 2022 |
Revaluations | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Sharpfibre Limited (Registered number: 02149000) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
6. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 December 2022 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2021 | 43,077 |
Valuation in 2022 | (21,538 | ) |
21,539 |
If shares in group undertakings had not been revalued they would have been included at the following historical cost: |
31.12.22 | 31.12.21 |
£ | £ |
Cost | 43,077 | 43,077 |
Shares in group undertakings were valued on a fair value basis on 16 October 2023 by the directors . |
7. | STOCKS |
31.12.22 | 31.12.21 |
£ | £ |
Materials |
8. | DEBTORS |
31.12.22 | 31.12.21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts recoverable on contracts | 1,789,320 | 1,920,630 |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
Sharpfibre Limited (Registered number: 02149000) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
10. | RELATED PARTY TRANSACTIONS |
At the end of the year the balance owed by the parent company was £50,000. (2021: £3,600,000) |
At the end of the year the balance owed by the subsidiary company was £163,059. (2021: £783,728) |
11. | CONTROLLING PARTY |
The controlling party is OD Fire Protection Limited. |
12. | GROUP ACCOUNTS |
By virtue of s383 of the Companies Act 2006 the company has elected not to produce group accounts. |