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Unaudited Financial Statements for the Year Ended 28 February 2021 |
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Sheppard & Co Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2021 |
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for |
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Sheppard & Co Limited |
Sheppard & Co Limited (Registered number: 08286889) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Sheppard & Co Limited |
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Company Information |
for the Year Ended 28 February 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
West Barn, c/o Down Farm |
Hindon |
Salisbury |
Wiltshire |
SP3 5TA |
Sheppard & Co Limited (Registered number: 08286889) |
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Balance Sheet |
28 February 2021 |
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28.2.21 | 28.2.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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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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PROVISIONS FOR LIABILITIES | 7 | ( |
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NET ASSETS |
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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 director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Sheppard & Co Limited (Registered number: 08286889) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
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1. | STATUTORY INFORMATION |
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Sheppard & Co Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements relate to Sheppard & Co Limited as an individual entity. |
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Significant judgements and estimates |
The preparation of the financial statements requires the use by management of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts. |
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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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Land and buildings | - |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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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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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Sheppard & Co Limited (Registered number: 08286889) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Short term creditors are measured at the transaction price. |
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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 |
Fixtures |
Office | and | Computer |
Buildings | Equipment | fittings | Equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 29 February 2020 |
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Additions |
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At 28 February 2021 |
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DEPRECIATION |
At 29 February 2020 |
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Charge for year |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 28 February 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.21 | 28.2.20 |
£ | £ |
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 |
28.2.21 | 28.2.20 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 14,349 | 15,862 |
Directors' current accounts | 14,767 | 3,080 |
Other creditors |
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Accrued expenses |
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7. | PROVISIONS FOR LIABILITIES |
28.2.21 | 28.2.20 |
£ | £ |
Deferred tax | 662 | 1,895 |
Sheppard & Co Limited (Registered number: 08286889) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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7. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 29 February 2020 |
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Provided during year | ( |
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Balance at 28 February 2021 |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is J M Sheppard FCA. |