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REGISTERED NUMBER: NI056736 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

The Steensons Limited

The Steensons Limited (Registered number: NI056736)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Steensons Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: W Steenson
C Steenson
B Steenson





SECRETARY: C Steenson





REGISTERED OFFICE: 62 - 64 Toberwine Street
Glenarm
Co. Antrim
BT44 0AP





REGISTERED NUMBER: NI056736 (Northern Ireland)





ACCOUNTANTS: M. Glover & Co.
3 Shrewsbury Gardens
Belfast
Co. Antrim
BT9 6PJ

The Steensons Limited (Registered number: NI056736)

Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,775 33,708
Tangible assets 5 228,051 247,392
250,826 281,100

CURRENT ASSETS
Stocks 145,193 163,387
Debtors 6 9,988 9,929
Investments 7 125,000 125,000
Cash at bank 203,132 111,851
483,313 410,167
CREDITORS
Amounts falling due within one year 8 155,592 140,166
NET CURRENT ASSETS 327,721 270,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

578,547

551,101

PROVISIONS FOR LIABILITIES 4,611 4,611
NET ASSETS 573,936 546,490

The Steensons Limited (Registered number: NI056736)

Balance Sheet - continued
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 572,936 545,490
SHAREHOLDERS' FUNDS 573,936 546,490

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

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

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 16 February 2024 and were signed on its behalf by:





B Steenson - Director


The Steensons Limited (Registered number: NI056736)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

The Steensons Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and 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.

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

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.
Plant and machinery etc - 15% 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 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.


The Steensons Limited (Registered number: NI056736)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 218,651
AMORTISATION
At 1 November 2022 184,943
Charge for year 10,933
At 31 October 2023 195,876
NET BOOK VALUE
At 31 October 2023 22,775
At 31 October 2022 33,708

The Steensons Limited (Registered number: NI056736)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 603,714
Additions 5,997
At 31 October 2023 609,711
DEPRECIATION
At 1 November 2022 356,322
Charge for year 25,338
At 31 October 2023 381,660
NET BOOK VALUE
At 31 October 2023 228,051
At 31 October 2022 247,392

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31/10/23 31/10/22
£    £   
Trade debtors 1,780 1,780
Other debtors 8,208 8,149
9,988 9,929

7. CURRENT ASSET INVESTMENTS
31/10/23 31/10/22
£    £   
Investments 125,000 125,000

The Steensons Limited (Registered number: NI056736)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31/10/23 31/10/22
£    £   
Trade creditors 56,811 64,563
Taxation and social security 70,609 48,606
Other creditors 28,172 26,997
155,592 140,166

9. ULTIMATE CONTROLLING PARTY

The controlling party is Bill and Chris Steenon.

The ultimate controlling party is Bill and Chris Steenson.