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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2017 |
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SHERWOOD TECHNICAL SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2017 |
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FOR |
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SHERWOOD TECHNICAL SERVICES LIMITED |
SHERWOOD TECHNICAL SERVICES LIMITED (REGISTERED NUMBER: 04005000) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st May 2017 |
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Page |
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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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SHERWOOD TECHNICAL SERVICES LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31st May 2017 |
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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 |
Ossington Chambers |
6-8 Castle Gate |
Newark |
Nottinghamshire |
NG24 1AX |
SHERWOOD TECHNICAL SERVICES LIMITED (REGISTERED NUMBER: 04005000) |
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BALANCE SHEET |
31st May 2017 |
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31/5/17 | 31/5/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES | 7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 | ( |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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SHERWOOD TECHNICAL SERVICES LIMITED (REGISTERED NUMBER: 04005000) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st May 2017 |
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1. | STATUTORY INFORMATION |
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Sherwood Technical Services Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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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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SHERWOOD TECHNICAL SERVICES LIMITED (REGISTERED NUMBER: 04005000) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st May 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st June 2016 |
and 31st May 2017 |
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DEPRECIATION |
At 1st June 2016 |
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Charge for year |
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At 31st May 2017 |
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NET BOOK VALUE |
At 31st May 2017 |
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At 31st May 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/17 | 31/5/16 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Tax recoverable |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/17 | 31/5/16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Directors' current accounts | 16,162 | 4,125 |
Deferred income |
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Accrued expenses |
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7. | PROVISIONS FOR LIABILITIES |
31/5/17 | 31/5/16 |
£ | £ |
Deferred tax | - | 392 |
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Deferred |
tax |
£ |
Balance at 1st June 2016 |
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Accelerated capital allowance |
Balance at 31st May 2017 |
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SHERWOOD TECHNICAL SERVICES LIMITED (REGISTERED NUMBER: 04005000) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st May 2017 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/5/17 | 31/5/16 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1st June 2016 | ( |
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Deficit for the year | ( |
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At 31st May 2017 | ( |
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10. | CONTINGENT LIABILITIES |
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The company had no contingent liabilities at 31st May 2017 (2016 - none). |
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11. | CAPITAL COMMITMENTS |
31/5/17 | 31/5/16 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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12. | RELATED PARTY DISCLOSURES |
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During the year Mr Brett charged the company £1,260 (£1,151 - 2016) for business use of his private car and |
£208 (£208 - 2016) for use of his residence. |
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13. | ULTIMATE CONTROLLING PARTY |
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Mr T J Brett owns 100% of the issued share capital of the company. |
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14. | FIRST TIME ADOPTION OF FINANCIAL REPORTING STANDARD 102 |
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These financial statements are the first which the company has prepared in accordance with the provisions of |
Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The |
transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative |
period at 1st June 2015, the income statement for the comparative period ended 31st May 2016 or the closing |
balance sheet of the comparative period at 31st May 2016. |