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REGISTERED NUMBER: 07994735 (England and Wales)
























Stephensons Online Limited

Financial Statements for the Year Ended 31st March 2023






Stephensons Online Limited (Registered number: 07994735)

Contents of the Financial Statements
for the Year Ended 31st March 2023










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Stephensons Online Limited

Company Information
for the Year Ended 31st March 2023







Directors: B Tong
K J Tong





Registered office: Prymus House
Cygnet Drive
Swan Valley
Northampton
NN4 9BS





Registered number: 07994735 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Stephensons Online Limited (Registered number: 07994735)

Abridged Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 3 81,931 88,949

Current assets
Stocks 975,072 774,632
Debtors 368,085 290,243
Cash at bank 348,627 374,820
1,691,784 1,439,695
Creditors
Amounts falling due within one year 1,145,402 1,068,383
Net current assets 546,382 371,312
Total assets less current liabilities 628,313 460,261

Provisions for liabilities 11,049 12,383
Net assets 617,264 447,878

Capital and reserves
Called up share capital 100 100
Retained earnings 617,164 447,778
617,264 447,878

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

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

Stephensons Online Limited (Registered number: 07994735)

Abridged Balance Sheet - continued
31st March 2023


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

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th October 2023 and were signed on its behalf by:





B Tong - Director


Stephensons Online Limited (Registered number: 07994735)

Notes to the Financial Statements
for the Year Ended 31st March 2023


1. 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Stephensons Online Limited (Registered number: 07994735)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


1. Accounting policies - continued

Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligations outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2. Employees and directors

The average number of employees during the year was 37 (2022 - 36 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st April 2022 161,220
Additions 17,006
At 31st March 2023 178,226
Depreciation
At 1st April 2022 72,271
Charge for year 24,024
At 31st March 2023 96,295
Net book value
At 31st March 2023 81,931
At 31st March 2022 88,949

Stephensons Online Limited (Registered number: 07994735)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


4. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 85,319 85,319
Between one and five years 210,026 247,526
In more than five years 143,457 191,276
438,802 524,121