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2022-04-01
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Company registration number:
12508156
B A Stewart Limited
Unaudited filleted financial statements
31 March 2023
B A Stewart Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
B A Stewart Limited
Directors and other information
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Director |
Miss Barbara Stewart |
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Company number |
12508156 |
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Registered office |
82 West Street |
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Rochford |
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Essex |
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SS4 1AS |
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Business address |
14 Recreation Road |
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Colchester |
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Essex |
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CO1 2HE |
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Accountant |
Andrew Murphy Chartered Accountants |
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Sovereign House |
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82 West Street |
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Rochford |
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Essex |
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SS4 1AS |
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B A Stewart Limited
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of B A Stewart Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of B A Stewart Limited for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of B A Stewart Limited, as a body, in accordance with the terms of my engagement letter dated 9 March 2020. My work has been undertaken solely to prepare for your approval the financial statements of B A Stewart Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than B A Stewart Limited and its director as a body for my work or for this report.
It is your duty to ensure that B A Stewart 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 B A Stewart Limited. You consider that B A Stewart Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of B A Stewart Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Andrew Murphy Chartered Accountants
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
11 September 2023
B A Stewart Limited
Statement of financial position
31 March 2023
|
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
|
6 |
919 |
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- |
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|
Cash at bank and in hand |
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37,905 |
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|
23,618 |
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|
|
|
|
_______ |
|
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|
_______ |
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38,824 |
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23,618 |
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Creditors: amounts falling due |
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within one year |
|
7 |
(
30,476) |
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|
(
21,718) |
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|
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|
_______ |
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|
_______ |
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Net current assets |
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8,348 |
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1,900 |
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_______ |
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_______ |
Total assets less current liabilities |
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8,348 |
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1,900 |
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_______ |
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_______ |
Net assets |
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8,348 |
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1,900 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
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2 |
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2 |
Profit and loss account |
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8,346 |
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1,898 |
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_______ |
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_______ |
Shareholder funds |
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8,348 |
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1,900 |
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_______ |
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_______ |
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 September 2023
, and are signed on behalf of the board by:
Miss Barbara Stewart
Director
Company registration number:
12508156
B A Stewart Limited
Statement of changes in equity
Year ended 31 March 2023
|
|
Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 April 2021 |
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2 |
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1,630 |
1,632 |
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Profit for the year |
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2,268 |
2,268 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
|
- |
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2,268 |
2,268 |
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Dividends paid and payable |
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|
(
2,000) |
(
2,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
- |
|
(
2,000) |
(
2,000) |
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_______ |
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_______ |
_______ |
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At 31 March 2022 and 1 April 2022 |
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2 |
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1,898 |
1,900 |
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Profit for the year |
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14,448 |
14,448 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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14,448 |
14,448 |
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Dividends paid and payable |
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|
(
8,000) |
(
8,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
- |
|
(
8,000) |
(
8,000) |
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_______ |
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_______ |
_______ |
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At 31 March 2023 |
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2 |
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8,346 |
8,348 |
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_______ |
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_______ |
_______ |
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B A Stewart Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sovereign House, 82 West Street, Rochford, Essex, SS4 1AS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4.
Tax on profit
Major components of tax expense
|
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2023 |
2022 |
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£ |
£ |
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Current tax: |
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UK current tax expense |
|
3,389 |
532 |
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|
_______ |
_______ |
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Tax on profit |
|
3,389 |
532 |
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_______ |
_______ |
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5.
Dividends
Equity dividends
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|
2023 |
2022 |
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|
£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) |
|
8,000 |
2,000 |
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|
_______ |
_______ |
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6.
Debtors
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2023 |
2022 |
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|
£ |
£ |
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Other debtors |
|
919 |
- |
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|
_______ |
_______ |
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7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Corporation tax |
|
3,389 |
532 |
|
Other creditors |
|
27,087 |
21,186 |
|
|
|
_______ |
_______ |
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30,476 |
21,718 |
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_______ |
_______ |
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8.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
2 |
|
2 |
|
2 |
|
2 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
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9.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2023 |
|
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Miss Barbara Stewart |
(
18,676) |
- |
(
7,131) |
(
25,807) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
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|
|
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2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Miss Barbara Stewart |
(
8,814) |
3,061 |
(
12,923) |
(
18,676) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
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10.
Controlling party
Miss Barbara Stewart
is the controlling party.