Company Registration No. 11039649 (England and Wales)
Keith Stockdale and Company Limited
Unaudited accounts
for the year ended 31 May 2023
Keith Stockdale and Company Limited
Unaudited accounts
Contents
Keith Stockdale and Company Limited
Company Information
for the year ended 31 May 2023
Company Number
11039649 (England and Wales)
Registered Office
ST INGUNGER OFFICES
LANIVET
BODMIN
PL30 5HS
UNITED KINGDOM
Accountants
Callywith Accountants
70 Castle Street
Bodmin
Cornwall
PL31 2DY
Keith Stockdale and Company Limited
Statement of financial position
as at 31 May 2023
Tangible assets
197,695
219,137
Cash at bank and in hand
759
61,962
Creditors: amounts falling due within one year
(305,830)
(226,832)
Net current assets
353,451
475,586
Total assets less current liabilities
551,146
694,723
Creditors: amounts falling due after more than one year
(350,362)
(414,172)
Provisions for liabilities
Deferred tax
(37,562)
(41,636)
Net assets
163,222
238,915
Called up share capital
5,000
5,000
Profit and loss account
158,222
233,915
Shareholders' funds
163,222
238,915
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 February 2024 and were signed on its behalf by
K Stockdale
Director
Company Registration No. 11039649
Keith Stockdale and Company Limited
Notes to the Accounts
for the year ended 31 May 2023
Keith Stockdale and Company Limited is a private company, limited by shares, registered in England and Wales, registration number 11039649. The registered office is ST INGUNGER OFFICES, LANIVET, BODMIN, PL30 5HS, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% of net book value and at a monthly flat rate
Computer equipment
20% of net book value
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Keith Stockdale and Company Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
250,940
17,747
268,687
At 31 May 2023
250,940
19,166
270,106
At 1 June 2022
40,287
9,263
49,550
Charge for the year
20,880
1,981
22,861
At 31 May 2023
61,167
11,244
72,411
At 31 May 2023
189,773
7,922
197,695
At 31 May 2022
210,653
8,484
219,137
Amounts falling due within one year
Trade debtors
19,784
1,461
Accrued income and prepayments
528
-
Other debtors
638,210
638,995
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
62,569
38,365
Obligations under finance leases and hire purchase contracts
9,188
9,188
Trade creditors
46,106
16,718
Taxes and social security
185,647
159,051
Keith Stockdale and Company Limited
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
185,517
240,139
Obligations under finance leases and hire purchase contracts
146,845
156,033
Other creditors
18,000
18,000
1. Bounce Back loan of £37917 repayable over seven years, with repayments due within 12 months amounting to £5,417.
2. A Recovery Loan of £68250 repayable over four years, with repayments due within 12 months amounting to £21,000, secured by a guarantee from the UK Government.
3. A Recovery loan of £133,972 repayable over five years, with repayments due within 12 months amounting to £28,205, secured a guarantee from the UK Government.
4. Hire purchase agreement for £215,940 over 5 years from 23 March 2021, with monthly instalments of £1,515.21 and a final instalment of £131,515.21 payable 23 March 2026.
5. An interest free loan of £18,000 from the director in accordance with the terms of the Subordinated Loan Agreement dated 10 November 2017. The loan is only repayable with the prior consent of The Financial Conduct Authority.
Allotted, called up and fully paid:
5,000 Ordinary shares of £1 each
5,000
5,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan repayable on demand and interest free.
482,261
49,214
-
531,475
10
Average number of employees
During the year the average number of employees was 10 (2022: 10).