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STEWARTS & CO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEWARTS & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: V L Stewart
T C Stewart
S A Stewart
D R Stewart





REGISTERED OFFICE: Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 08770707 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 147 196
Investment property 5 1,100,000 1,100,000
1,100,147 1,100,196

CURRENT ASSETS
Debtors 6 78,056 61,378
Cash at bank and in hand 6,632 3,154
84,688 64,532
CREDITORS
Amounts falling due within one year 7 133,658 144,123
NET CURRENT LIABILITIES (48,970 ) (79,591 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,051,177 1,020,605

CREDITORS
Amounts falling due after more than one
year

8

(490,432

)

(509,016

)

PROVISIONS FOR LIABILITIES 10 (83,500 ) (63,400 )
NET ASSETS 477,245 448,189

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 126,617 126,617
Retained earnings 350,528 321,472
SHAREHOLDERS' FUNDS 477,245 448,189

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

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

STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

BALANCE SHEET - continued
31 JANUARY 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 25 October 2023 and were signed on its behalf by:





T C Stewart - Director


STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Stewarts & 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% per annum of net book value

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 4 ).

STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2022
and 31 January 2023 697
DEPRECIATION
At 1 February 2022 501
Charge for year 49
At 31 January 2023 550
NET BOOK VALUE
At 31 January 2023 147
At 31 January 2022 196

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 1,100,000
NET BOOK VALUE
At 31 January 2023 1,100,000
At 31 January 2022 1,100,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2019 980,000
Valuation in 2020 (155,000 )
Valuation in 2021 250,000
Valuation in 2022 25,000
1,100,000

The fair value of the Investment properties was valued by the directors on 31 January 2022.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 78,056 61,378

STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,944 17,305
Taxation and social security 11,542 6,595
Other creditors 104,172 120,223
133,658 144,123

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 490,432 509,016

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 120,826 124,665

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 508,376 526,321

The bank loan is secured on the freehold investment property.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 83,500 63,400

Deferred
tax
£   
Balance at 1 February 2022 63,400
Provided during year 20,100
Balance at 31 January 2023 83,500

STEWARTS & CO LIMITED (REGISTERED NUMBER: 08770707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Original £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 February 2022
and 31 January 2023 126,617

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
T C Stewart
Balance outstanding at start of year 60,911 55,110
Amounts advanced 38,931 58,519
Amounts repaid (40,468 ) (52,718 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,374 60,911

Interest is charged on loans to directors at HMRC approved rates. The amount charged during the year was £1,431.