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REGISTERED NUMBER: 04773281 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

S J FEIST & CO LIMITED

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S J FEIST & CO LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: S J Feist
P W Feist
C Harrison



REGISTERED OFFICE: Chameleon House
Drury Lane
St Leonards on Sea
East Sussex
TN38 9BA



REGISTERED NUMBER: 04773281 (England and Wales)



ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



BANKERS: Lloyds TSB Bank plc
Wellington Place
Hastings
East Sussex
TN34 1NX

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 97,792 123,913

CURRENT ASSETS
Stocks 153,826 202,687
Debtors 5 93,525 173,827
Cash at bank and in hand 54,096 80,143
301,447 456,657
CREDITORS
Amounts falling due within one year 6 (219,715 ) (424,860 )
NET CURRENT ASSETS 81,732 31,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,524

155,710

CREDITORS
Amounts falling due after more than one
year

7

(32,261

)

(53,712

)

PROVISIONS FOR LIABILITIES 9 (24,448 ) (30,978 )
NET ASSETS 122,815 71,020

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 122,805 71,010
122,815 71,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

BALANCE SHEET - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





S J Feist - Director


S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

S J Feist & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of goods is recognised at the point of sale. Revenue for the sale of services is recognised when the work is complete. If deposits or income are received in advance of completed work, this will be deferred and recognised only when the work has been completed. In cases where work has been completed but not yet invoiced, income will be accrued to ensure income is recognised in the correct period.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to showroom- 5 years on cost
Plant & equipment- 25% on reducing balance
Showroom fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33% on cost

Stocks
Stock is valued at the lower of cost and estimated selling price less costs. Stock includes Everhots, AGA's and stoves ready for sale, as well as general plumbing and service department stock.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of profit and loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Government grants
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme the government paid the first year of interest on the loan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 22 ) .

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Showroom
showroom equipment fittings
£    £    £   
COST
At 1 April 2022 22,590 12,105 11,404
Additions - 1,704 -
Disposals (22,590 ) (6,198 ) -
At 31 March 2023 - 7,611 11,404
DEPRECIATION
At 1 April 2022 22,590 7,712 4,989
Charge for year - 1,433 1,604
Eliminated on disposal (22,590 ) (5,835 ) -
At 31 March 2023 - 3,310 6,593
NET BOOK VALUE
At 31 March 2023 - 4,301 4,811
At 31 March 2022 - 4,393 6,415

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 273,923 14,872 334,894
Additions 11,250 - 12,954
Disposals (7,382 ) (5,297 ) (41,467 )
At 31 March 2023 277,791 9,575 306,381
DEPRECIATION
At 1 April 2022 163,980 11,710 210,981
Charge for year 32,889 2,749 38,675
Eliminated on disposal (7,345 ) (5,297 ) (41,067 )
At 31 March 2023 189,524 9,162 208,589
NET BOOK VALUE
At 31 March 2023 88,267 413 97,792
At 31 March 2022 109,943 3,162 123,913

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 108,803
Transfer to ownership (41,885 )
At 31 March 2023 66,918
DEPRECIATION
At 1 April 2022 52,000
Charge for year 10,045
Transfer to ownership (25,262 )
At 31 March 2023 36,783
NET BOOK VALUE
At 31 March 2023 30,135
At 31 March 2022 56,803

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 73,927 93,091
Other debtors 19,598 80,736
93,525 173,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 106,402 259,273
Taxation and social security 81,834 51,195
Other creditors 21,479 104,392
219,715 424,860

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 21,667 31,667
Other creditors 10,594 22,045
32,261 53,712

S J FEIST & CO LIMITED (REGISTERED NUMBER: 04773281)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 31,667 41,667

The company's bankers have a fixed and floating charge over all company assets on any monies due or to become due from the company.

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 24,448 30,978

Deferred
tax
£   
Balance at 1 April 2022 30,978
Accelerated capital allowances (6,530 )
Balance at 31 March 2023 24,448

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 2023 2022
value: £ £
725 Ordinary A 1p 7.25 7.25
175 Ordinary B 1p 1.75 1.75
100 Ordinary C 1p 1.00 1.00
10.00 10.00