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REGISTERED NUMBER: 06391892 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Stephen Lewis Property Limited

Stephen Lewis Property Limited (Registered number: 06391892)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Stephen Lewis Property Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: S K Lewis



REGISTERED OFFICE: Lower Woodcote Farm
Bowbrook
Shrewsbury
Shropshire
SY5 8PJ



REGISTERED NUMBER: 06391892 (England and Wales)



ACCOUNTANTS: Caerwyn Jones
Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: HSBC Bank Plc
Princess House
33 High Street
Shrewsbury
Shropshire
SY1 1SL

Stephen Lewis Property Limited (Registered number: 06391892)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 100,960 113,384
Investments 5 7,661 7,661
Investment property 6 980,000 980,000
1,088,621 1,101,045

CURRENT ASSETS
Inventories 427,308 549,023
Debtors 7 643,126 389,110
1,070,434 938,133
CREDITORS
Amounts falling due within one year 8 338,946 437,999
NET CURRENT ASSETS 731,488 500,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,820,109

1,601,179

CREDITORS
Amounts falling due after more than
one year

9

1,292,602

1,099,504
NET ASSETS 527,507 501,675

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 11 (481,670 ) (481,670 )
Retained earnings 1,009,176 983,344
SHAREHOLDERS' FUNDS 527,507 501,675

Stephen Lewis Property Limited (Registered number: 06391892)

Statement of Financial Position - continued
31 March 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 March 2024 and were signed by:





S K Lewis - Director


Stephen Lewis Property Limited (Registered number: 06391892)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Stephen Lewis Property Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Revenue 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 etc - 20% on cost and 10% or 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Inventories 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 statement of financial position date.


Stephen Lewis Property Limited (Registered number: 06391892)

Notes to the Financial Statements - continued
for the year ended 31 March 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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 161,219 14,848 176,067
Disposals (325 ) - (325 )
At 31 March 2023 160,894 14,848 175,742
DEPRECIATION
At 1 April 2022 47,835 14,848 62,683
Charge for year 12,099 - 12,099
At 31 March 2023 59,934 14,848 74,782
NET BOOK VALUE
At 31 March 2023 100,960 - 100,960
At 31 March 2022 113,384 - 113,384

Stephen Lewis Property Limited (Registered number: 06391892)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 7,661
NET BOOK VALUE
At 31 March 2023 7,661
At 31 March 2022 7,661

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 980,000
NET BOOK VALUE
At 31 March 2023 980,000
At 31 March 2022 980,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 (394,000 )
Cost 1,374,000
980,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,000 22,616
Other debtors 583,126 366,494
643,126 389,110

Stephen Lewis Property Limited (Registered number: 06391892)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 215,099 218,824
Hire purchase contracts 18,779 26,067
Trade creditors 4,095 98,870
Taxation and social security 57,723 50,102
Other creditors 43,250 44,136
338,946 437,999

The bank overdraft is secured by a fixed and floating charge over the assets in the company.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,254,973 1,087,779
Hire purchase contracts 37,629 11,725
1,292,602 1,099,504

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,178,749 1,051,998

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 191,766 211,715
Bank loans 1,245,415 1,051,998
1,437,181 1,263,713

The bank loans are secured by a fixed and floating charge over the assets in the company.

Stephen Lewis Property Limited (Registered number: 06391892)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 (481,670 )

12. RELATED PARTY DISCLOSURES

Included in debtors due within one year is an amount of £438,038 (2022 - £347,394) due from G & M Lewis, a farming partnership in which the director is a partner. This amount is repayable on demand. During the year no interest was paid on this amount.