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REGISTERED NUMBER: 04768449 (England and Wales)


















Stainton Ward Limited

Unaudited Financial Statements for the Year Ended 30th June 2023






Stainton Ward Limited (Registered number: 04768449)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stainton Ward Limited

Company Information
for the year ended 30th June 2023







DIRECTORS: A W Lawrence
Mrs C J Lawrence





SECRETARY: Mrs C J Lawrence





REGISTERED OFFICE: Unit 5 Acorn Industrial Estate
Bontoft Avenue
Hull
East Yorkshire
HU5 4HF





REGISTERED NUMBER: 04768449 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Stainton Ward Limited (Registered number: 04768449)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,281 47,160

CURRENT ASSETS
Stocks 38,412 33,854
Debtors 5 60,114 40,810
Cash at bank and in hand 27,366 18,424
125,892 93,088
CREDITORS
Amounts falling due within one year 6 123,189 92,862
NET CURRENT ASSETS 2,703 226
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,984

47,386

CREDITORS
Amounts falling due after more than one
year

7

(11,500

)

(17,500

)

PROVISIONS FOR LIABILITIES (9,364 ) (8,961 )
NET ASSETS 31,120 20,925

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 30,120 19,925
SHAREHOLDERS' FUNDS 31,120 20,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Stainton Ward Limited (Registered number: 04768449)

Balance Sheet - continued
30th June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st November 2023 and were signed on its behalf by:





A W Lawrence - Director


Stainton Ward Limited (Registered number: 04768449)

Notes to the Financial Statements
for the year ended 30th June 2023

1. STATUTORY INFORMATION

Stainton Ward Limited is a private company, limited by shares, registered in England & Wales. The company's 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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

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.
Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Motor vehicles - 20% on cost

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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Stainton Ward Limited (Registered number: 04768449)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Leases

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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2022 131,589 16,418 148,007
Additions 16,536 - 16,536
Disposals (602 ) - (602 )
At 30th June 2023 147,523 16,418 163,941
DEPRECIATION
At 1st July 2022 84,429 16,418 100,847
Charge for year 14,212 - 14,212
Eliminated on disposal (399 ) - (399 )
At 30th June 2023 98,242 16,418 114,660
NET BOOK VALUE
At 30th June 2023 49,281 - 49,281
At 30th June 2022 47,160 - 47,160


Stainton Ward Limited (Registered number: 04768449)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 43,319 23,304
Other debtors 16,795 17,506
60,114 40,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 55,586 39,404
Taxation and social security 22,792 15,748
Other creditors 38,811 31,710
123,189 92,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,500 17,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,699 844
Between one and five years 19,372 33,854
24,071 34,698

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 17,500 23,500

Bank loans are secured by way of a debenture and fixed and floating charges, supported by a personal guarantee given by the directors.

10. OTHER FINANCIAL COMMITMENTS

Within other creditors is an amount of £535 relating to pension contributions yet to be paid at the year end (2022 £366).