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REGISTERED NUMBER: 00583456 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Fred Stoddart Limited

Fred Stoddart Limited (Registered number: 00583456)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fred Stoddart Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: G Gilligan
S Grant



SECRETARY: G Gilligan



REGISTERED OFFICE: 28 Wilson Street North
Sunderland
Tyne and Wear
SR5 1BB



REGISTERED NUMBER: 00583456 (England and Wales)



ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: HSBC Bank plc
Unit 49-51
The Bridges Shopping Centre
Sunderland
Tyne and Wear
SR1 3LE

Fred Stoddart Limited (Registered number: 00583456)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,445 126,211

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 5 701,246 485,243
Cash at bank and in hand 490,932 532,330
1,194,678 1,020,073
CREDITORS
Amounts falling due within one year 6 413,567 452,811
NET CURRENT ASSETS 781,111 567,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

930,556

693,473

CREDITORS
Amounts falling due after more than one
year

7

(30,162

)

(39,691

)

PROVISIONS FOR LIABILITIES (9,844 ) (2,086 )
NET ASSETS 890,550 651,696

CAPITAL AND RESERVES
Called up share capital 1,450 1,450
Share premium 24,500 24,500
Capital redemption reserve 1,050 1,050
Retained earnings 863,550 624,696
SHAREHOLDERS' FUNDS 890,550 651,696

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Fred Stoddart Limited (Registered number: 00583456)

Statement of Financial Position - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:




G Gilligan - Director



S Grant - Director


Fred Stoddart Limited (Registered number: 00583456)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Fred Stoddart 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.

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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% Straight line

Stock
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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.

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 statement of financial position date.


Fred Stoddart Limited (Registered number: 00583456)

Notes to the Financial Statements - continued
for the year ended 31 May 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 statement of financial position 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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 69,075 45,409 256,660 7,545 378,689
Additions - - 42,406 1,398 43,804
Disposals - - (8,750 ) - (8,750 )
At 31 May 2023 69,075 45,409 290,316 8,943 413,743
DEPRECIATION
At 1 June 2022 12,086 43,159 192,423 4,810 252,478
Charge for year 1,381 338 17,089 1,361 20,169
Eliminated on disposal - - (8,349 ) - (8,349 )
At 31 May 2023 13,467 43,497 201,163 6,171 264,298
NET BOOK VALUE
At 31 May 2023 55,608 1,912 89,153 2,772 149,445
At 31 May 2022 56,989 2,250 64,237 2,735 126,211

Fred Stoddart Limited (Registered number: 00583456)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 657,986 450,334
Other debtors 43,260 34,909
701,246 485,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 282,563 340,236
Taxation and social security 120,736 101,555
Other creditors 10,268 11,020
413,567 452,811

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,162 39,691