REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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SHEPHERD HILLS FURNITURE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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FOR |
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SHEPHERD HILLS FURNITURE LIMITED |
SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
SHEPHERD HILLS FURNITURE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Number 5 |
The Business Quarter |
Eco Park Road |
Ludlow |
Shropshire |
SY8 1FD |
SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Shepherd Hills Furniture Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. The accounts are prepared on a going concern basis. |
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This is the first year in which the financial statements have been prepared under FRS 102 section 1A. Details of the transition can be found in the final note of the financial statements. |
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The financial statements are presented in Sterling (£) rounded to the nearest £1. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Grants |
Grants are credited to the profit and loss account when received. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 October 2020 |
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Additions |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
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COST |
At 1 October 2020 |
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Additions |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Other loans |
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Trade creditors |
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VAT |
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Other creditors |
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Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Directors' loan accounts |
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SHEPHERD HILLS FURNITURE LIMITED (REGISTERED NUMBER: 08149914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.21 | 30.9.20 |
£ | £ |
Within one year |
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Between one and five years |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is UK Mennonite Ministries. |
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The ultimate controlling party, UK Mennonite Ministries is a registered charity which owns 100% of the share capital. |
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10. | FIRST YEAR ADOPTION |
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FIRST YEAR ADOPTION |
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These are the company's first financial statements prepared in accordance with the provisions of Section 1A |
"Small Entities" Financial Reporting Standard 102. The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland. Previously they were prepared in accordance with the micro entity |
provisions. The company has prepared its opening balance sheet at the date of transition to FRS 102. |
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The transition to FRS 102 has had no material effect on the balance sheet or on total equity and profit. |
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Exemptions from full retrospective application |
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The company's accounting policies presented have been applied in preparing the financial statements for the year ended 30th September 2021, the comparative information and the opening balance sheet as at the date of transition. Upon transition, the company has applied all the mandatory exceptions from full retrospective application. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SHEPHERD HILLS FURNITURE LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shepherd Hills Furniture Limited for the year ended 30 September 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Shepherd Hills Furniture Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shepherd Hills Furniture Limited and state those matters that we have agreed to state to the Board of Directors of Shepherd Hills Furniture Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shepherd Hills Furniture Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Shepherd Hills Furniture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shepherd Hills Furniture Limited. You consider that Shepherd Hills Furniture Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Shepherd Hills Furniture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Number 5 |
The Business Quarter |
Eco Park Road |
Ludlow |
Shropshire |
SY8 1FD |
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