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Logo On Report
Registered Number: 07659358
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 November 2022

for

STUFF4 LTD

Directors Neil Robert Emms
Benjamin James Prior
Registered Number 07659358
Registered Office 29 Eastern Way
Bury St Edmunds
IP32 7AB
Accountants Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2022
Principal activities
The principal activity of the company during the financial year was of Internet sales.
Directors
The directors who served the company throughout the year were as follows:
Neil Robert Emms
Benjamin James Prior
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
-    select suitable accounting policies and then apply them consistently
-    make judgements and accounting estimates that are reasonable and prudent
-    state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
-    prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Neil Robert Emms
Director

Date approved: 18 August 2023
2
Chartered Accountants' Report to the board of directors on the preparation of the unaudited statutory accounts of Stuff4 Ltd for the year ended 30 November 2022 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stuff4 Ltd for the year ended 30 November 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Stuff4 Ltd , as a body, in accordance with the terms of our engagement letter dated 18 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of Stuff4 Ltd and state those matters that we have agreed to state to the Board of Directors of Stuff4 Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stuff4 Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stuff4 Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Stuff4 Ltd . You consider that Stuff4 Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Stuff4 Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts



....................................................
Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
18 August 2023
3
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3 4,626    3,205 
Tangible fixed assets 4 110,361    117,108 
114,987    120,313 
Current assets      
Stocks 5 279,710    245,204 
Debtors 6 737,008    341,049 
Cash at bank and in hand 46,815    25,095 
1,063,533    611,348 
Creditors: amount falling due within one year 7 (402,650)   (161,351)
Net current assets 660,883    449,997 
 
Total assets less current liabilities 775,870    570,310 
Creditors: amount falling due after more than one year 8 (289,100)   (380,588)
Provisions for liabilities 9 (22,249)   (22,250)
Net assets 464,521    167,472 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 464,421    167,372 
Shareholder's funds 464,521    167,472 
 


For the year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 August 2023 and were signed on its behalf by:


-------------------------------
Neil Robert Emms
Director
4
General Information
Stuff4 Ltd is a private company, limited by shares, registered in England and Wales, registration number 07659358, registration address 29 Eastern Way, Bury St Edmunds, IP32 7AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 30% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 20 (2021 : 19).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 December 2021 27,085    27,085 
Additions 2,500    2,500 
Disposals  
At 30 November 2022 29,585    29,585 
Amortisation
At 01 December 2021 23,880    23,880 
Charge for year 1,079    1,079 
On disposals  
At 30 November 2022 24,959    24,959 
Net book values
At 30 November 2022 4,626    4,626 
At 30 November 2021 3,205    3,205 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 December 2021 381,245    381,245 
Additions 59,289    59,289 
Disposals (6,558)   (6,558)
At 30 November 2022 433,976    433,976 
Depreciation
At 01 December 2021 264,137    264,137 
Charge for year 59,478    59,478 
On disposals  
At 30 November 2022 323,615    323,615 
Net book values
Closing balance as at 30 November 2022 110,361    110,361 
Opening balance as at 01 December 2021 117,108    117,108 


5.

Stocks

2022
£
  2021
£
Finished Goods 279,710    245,204 
279,710    245,204 

6.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 574,234    154,784 
Amount Owed by Group Undertakings 140,000    170,000 
Prepayments & Accrued Income 10,700    8,381 
Other Debtors 12,074    7,884 
737,008    341,049 

7.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 77,840    76,899 
Amounts Owed to Group Undertakings 109,256    21,975 
Corporation Tax 65,906   
PAYE & Social Security 68,799    33,257 
Accrued Expenses 80,849    29,220 
402,650    161,351 

8.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts (secured) 229,167    279,167 
Other Creditors 59,933    101,421 
289,100    380,588 

9.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax 22,249    22,250 
22,249    22,250 

5