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REGISTERED NUMBER: 02818626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

FRED STEVENS LTD

FRED STEVENS LTD (REGISTERED NUMBER: 02818626)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRED STEVENS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: J J Baker MBIE, DIP.FD, MBIFD
J S Rycroft





SECRETARY: S L Baker





REGISTERED OFFICE: Newmarket Road
Nailsworth
Gloucestershire
GL6 ODQ





REGISTERED NUMBER: 02818626 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

FRED STEVENS LTD (REGISTERED NUMBER: 02818626)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 222,276 186,504
222,276 186,504

CURRENT ASSETS
Stocks 2,400 1,690
Debtors 6 16,368 30,477
Cash at bank and in hand 141,803 129,439
160,571 161,606
CREDITORS
Amounts falling due within one year 7 175,272 167,712
NET CURRENT LIABILITIES (14,701 ) (6,106 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,575

180,398

PROVISIONS FOR LIABILITIES 21,923 18,886
NET ASSETS 185,652 161,512

CAPITAL AND RESERVES
Called up share capital 150,360 150,360
Retained earnings 35,292 11,152
SHAREHOLDERS' FUNDS 185,652 161,512

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 STEVENS LTD (REGISTERED NUMBER: 02818626)

BALANCE SHEET - continued
31 AUGUST 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 18 November 2023 and were signed on its behalf by:





J J Baker MBIE, DIP.FD, MBIFD - Director


FRED STEVENS LTD (REGISTERED NUMBER: 02818626)

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

1. STATUTORY INFORMATION

Fred Stevens Ltd 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 the provision of section 1A "Small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the directors.

Turnover
Revenue represents the invoiced value of goods sold and services provided during the period, stated net of Value Added Tax.

Revenue from the principal activity of funeral services is recognised when the service and goods have been provided and all obligations to the customers have been fulfilled, unless management has doubts as to the recoverability of fees.

Goodwill
Goodwill purchased in December 1999 is being amortised over 20 years. Because of local and family connections, well established funeral directors have traditionally attracted significant goodwill values, more recently enhanced with an increasing use of pre-paid funeral plans. The directors are of the opinion that the goodwill purchased in December 1999 has a useful economic life of over 20 years and that, since that date, the current value increasingly exceeds the net book value.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and equipment - at varying rates on cost
Motor vehicles - at varying rates 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 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 balance sheet date.

FRED STEVENS LTD (REGISTERED NUMBER: 02818626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 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
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Employees and directors
The average number of employees referred to in note 3 has been calculated in accordance with Section 411 of the Companies Act 2006. For disclosure purposes the term employee in this instance includes all persons carrying out day to day operational duties on behalf of the company and therefore covers employees, workers and directors. Inclusion in the figure above does not entitle any workers to employment benefits that would be enjoyed by an employee to which they are not ordinarily entitled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 103,057
AMORTISATION
At 1 September 2022
and 31 August 2023 103,057
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

FRED STEVENS LTD (REGISTERED NUMBER: 02818626)

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

5. TANGIBLE FIXED ASSETS
Furniture
Leasehold and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 September 2022 1,898 113,899 249,009 364,806
Additions - - 62,526 62,526
Disposals - - (34,088 ) (34,088 )
At 31 August 2023 1,898 113,899 277,447 393,244
DEPRECIATION
At 1 September 2022 1,893 83,690 92,719 178,302
Charge for year 5 5,923 20,826 26,754
Eliminated on disposal - - (34,088 ) (34,088 )
At 31 August 2023 1,898 89,613 79,457 170,968
NET BOOK VALUE
At 31 August 2023 - 24,286 197,990 222,276
At 31 August 2022 5 30,209 156,290 186,504

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,242 23,235
Prepayments 2,126 7,242
16,368 30,477

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,205 3,916
Corporation Tax 2,589 -
Social security and other taxes 3,117 3,460
Peoples Pension 495 477
Net wages 3,678 -
Pre-paid funerals 9,946 9,450
Other creditors - 39,063
Pre-paid disbursements 13,675 21,048
Directors' loan accounts 136,567 90,298
175,272 167,712

FRED STEVENS LTD (REGISTERED NUMBER: 02818626)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
J J Baker MBIE, DIP.FD, MBIFD
Balance outstanding at start of year (90,298 ) (81,120 )
Amounts repaid (7,206 ) (9,178 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (97,504 ) (90,298 )

J S Rycroft
Balance outstanding at start of year - -
Amounts repaid (39,063 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (39,063 ) -

Interest is paid on the above loans at between 0% and 7.75% pa; there are no fixed repayment terms.