Company Registration No. 07946371 (England and Wales)
SHERIDAN RESOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
SHERIDAN RESOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SHERIDAN RESOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
24,195
30,589
Tangible assets
4
6,870
5,851
31,065
36,440
Current assets
Debtors
5
63,388
33,931
Cash at bank and in hand
384,230
500,242
447,618
534,173
Creditors: amounts falling due within one year
6
(46,931)
(137,493)
Net current assets
400,687
396,680
Total assets less current liabilities
431,752
433,120
Provisions for liabilities
7
(1,305)
(1,112)
Net assets
430,447
432,008
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
430,446
432,007
Total equity
430,447
432,008
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SHERIDAN RESOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 November 2022
Ms C Sheridan
Director
Company Registration No. 07946371
SHERIDAN RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Sheridan Resolutions Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Leadenhall Building, 122 Leadenhall Street, Westminster, London, United Kingdom, EC3V 4AB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the
fair
value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intangible Assets
Over 5 years
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
Over 3 years
SHERIDAN RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
1
SHERIDAN RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
3
Intangible fixed assets
Intangible Assets
£
Cost
At 1 April 2021 and 31 March 2022
31,970
Amortisation and impairment
At 1 April 2021
1,381
Amortisation charged for the year
6,394
At 31 March 2022
7,775
Carrying amount
At 31 March 2022
24,195
At 31 March 2021
30,589
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
17,370
Additions
4,176
At 31 March 2022
21,546
Depreciation and impairment
At 1 April 2021
11,519
Depreciation charged in the year
3,157
At 31 March 2022
14,676
Carrying amount
At 31 March 2022
6,870
At 31 March 2021
5,851
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
30,296
31,521
Other debtors
33,092
2,410
63,388
33,931
SHERIDAN RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
11,774
48,626
Taxation and social security
17,315
61,805
Other creditors
17,842
27,062
46,931
137,493
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
1,305
1,112
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1