REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Stevens Services (West End) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Stevens Services (West End) Ltd |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Stevens Services (West End) Ltd |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
35 Station Approach |
West Byfleet |
Surrey |
KT14 6NF |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
756,353 | 653,254 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDER FUNDS |
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. |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Balance Sheet - continued |
30 September 2023 |
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 |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Stevens Services (West End) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors expect that trading over the next twelve months will generate positive cash flows and have therefore continued to adopt the going concern basis of preparing the financial statements. |
Turnover |
Turnover represents the value of work executed during the year, all of which related to ordinary activities conducted in the United Kingdom. All turnover excludes value added tax. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Freehold land has not been depreciated. This treatment is a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However the accounting policy adopted is considered necessary in order for the financial statement to give a true and fair view. |
Stocks & contracts |
The amount of contract costs, at cost incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with turnover, is included in work in progress and stock as contract work in progress. |
The amount by which recorded turnover is in excess of payments on account is included in debtors as amounts due on contracts. |
Payments in excess of recorded turnover and contract work in progress are included in creditors as payments received on account on contracts. |
The amount by which provisions or accruals for foreseeable losses exceed costs incurred, after transfers to cost of sales, is included within either provisions for liabilities and charges or creditors, as appropriate. |
Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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. |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 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. |
Hire purchase and leasing commitments |
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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Included in cost of land and buildings is freehold land of £ 295,964 (2022 - £ 295,964 ) which is not depreciated. |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 30 September 2023 |
DEPRECIATION |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
5. | STOCKS |
30.9.23 | 30.9.22 |
£ | £ |
Stocks | 13,836 | 2,530 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 9) |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30.9.23 | 30.9.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 241,144 | 291,713 |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.9.23 | 30.9.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
30.9.23 | 30.9.22 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
Hire purchase contracts | 104,396 | - |
Amounts due under hire purchase contracts are secured on the asset to which they relate. |
The bank loans are secured by way of a first legal charge over the freehold property, a first legal charge over the home of I J Stevens and Mrs E A Stevens, I J Stevens is a director of the company and Mrs E A Stevens was a director of the company, plus a personal guarantee from I J Stevens and Mrs E A Stevens of £100,000 and an unlimited debenture from the company. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the company owed I J Stevens and his spouse £nil (2022 £37,038) and J Lintott and his spouse £35,587 (2022: £42,337). |
I J Stevens and J Lintott are directors of the company. |
The loans are interest free, unsecured and repayable on demand. |
Stevens Services (West End) Ltd (Registered number: 03795595) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
12. | RELATED PARTY DISCLOSURES |
During the year dividends totalling £31,250 (2022: £nil) were paid to Stevens Washrooms Holdings Ltd, the company's parent company. Stevens Washrooms Holdings Ltd charged the company management charges of £1,824 (2022: £8,545) for the year. |
At the balance sheet date the company owed its parent company £52,101 (2022: £35,656).. |
13. | ULTIMATE CONTROLLING PARTY |
I J Stevens and E A Stevens, as directors or director and spouse of a director and shareholders of Stevens Washrooms Holdings Ltd are the ultimate controlling parties of the company. |
Copies of the financial statements of Stevens Washrooms Holdings Ltd are available from Companies House |