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Registrar

Registration number: 07072867

Stewart Landscape Construction Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Stewart Landscape Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Stewart Landscape Construction Limited

Company Information

Directors

M S Richardson

C J Richardson

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Solicitors

Holmes & Hills LLP
Bocking End
Braintree
Essex
CM7 9AJ

Bankers

Lloyds Bank plc
Braintree
2-4 Bank Street
Braintree
Essex
CM7 7UN

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Stewart Landscape Construction Limited

(Registration number: 07072867)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

376,789

367,923

Current assets

 

Stocks

5

80,287

66,536

Debtors

6

267,534

316,834

Cash at bank and in hand

 

26,348

6,423

 

374,169

389,793

Creditors: Amounts falling due within one year

7

(475,182)

(525,311)

Net current liabilities

 

(101,013)

(135,518)

Total assets less current liabilities

 

275,776

232,405

Creditors: Amounts falling due after more than one year

7

(225,220)

(184,075)

Provisions for liabilities

(51,817)

(53,536)

Net liabilities

 

(1,261)

(5,206)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

78,090

78,090

Profit and loss account

(79,451)

(83,396)

Shareholders' deficit

 

(1,261)

(5,206)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Stewart Landscape Construction Limited

(Registration number: 07072867)
Balance Sheet as at 31 December 2021

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 July 2022 and signed on its behalf by:
 


M S Richardson
Director


C J Richardson
Director

 
     
 

Stewart Landscape Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Going concern

The financial statements have been prepared on a going concern basis.
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall their loans within 12 months from the balance sheet date of signing. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Government grants

Government grants are assistance by government in the form of a transfer of resources to an entity in return for past or future compliance with specified conditions relating to the operating activities of the entity. Grants are recognised in the profit and loss account at the date they are received, under the performance model.

 

Stewart Landscape Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Impact of Coronavirus

During the year to 31 December 2021, the world has been impacted by the onset and escalation of the coronavirus (COVID-19) which was announced as a pandemic by the World Health Organisation (WHO) on 11 March 2020. The UK economy has been significantly impacted following the UK Government and announcement of the shutdown of businesses and premises on 23 March 2020. The company has been affected by the economic changes which have impacted its sales. The directors have considered the impact of COVID-19 on Stewart Landscape Construction Limited. As a result, they are implementing processes to ensure the business continues to operate effectively. The business has received support via Government schemes, such as the Job Retention Scheme and the Bounce Back Loan Scheme. The directors believe the company has sufficient resources to see it through the crisis.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at revalued amounts, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

5% Reducing Balance Method

Plant and machinery

10% and 20% Reducing Balance Method

Office equipment

10% and 20% Reducing Balance Method

Motor vehicles

20% Reducing Balance Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Stewart Landscape Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2020 - 19).

 

Stewart Landscape Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Leasehold improvements
£

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2021

23,357

19,009

168,126

469,560

680,052

Additions

4,683

6,270

26,000

42,299

79,252

Disposals

-

-

(12,295)

(24,853)

(37,148)

At 31 December 2021

28,040

25,279

181,831

487,006

722,156

Depreciation

At 1 January 2021

8,864

9,132

82,149

211,984

312,129

Charge for the year

881

3,164

17,029

28,914

49,988

Eliminated on disposal

-

-

(4,095)

(12,655)

(16,750)

At 31 December 2021

9,745

12,296

95,083

228,243

345,367

Carrying amount

At 31 December 2021

18,295

12,983

86,748

258,763

376,789

At 31 December 2020

14,493

9,877

85,977

257,576

367,923

Included within the net book value of leasehold improvements above is £18,295 (2020 - £14,493) in respect of improvements to property.
 

5

Stocks

2021
£

2020
£

Stocks

80,287

66,536

6

Debtors

2021
£

2020
£

Trade debtors

148,947

260,315

Other debtors

118,587

56,519

Total current trade and other debtors

267,534

316,834

 

Stewart Landscape Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
 £

2020
 £

Due within one year

 

Trade creditors

 

236,030

233,728

Other loans - under 1yr

10,000

7,156

HP liability 1 (under 1yr)

48,498

43,924

Bank current account

-

15,170

Social security and other taxes

 

84,371

165,932

Directors loan

83,092

53,613

Other creditors

 

1,546

1,198

Accruals and deferred income

 

11,645

4,590

 

475,182

525,311

Due after one year

 

HP and finance lease liability 1 (2-5yrs)

86,098

91,231

Other loan 1 (2-5yrs)

39,122

42,844

Directors loan accounts (1-2yrs)

100,000

50,000

 

225,220

184,075