Company Registration No. 04964956 (England and Wales)
STRATFORD FINANCIAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
STRATFORD FINANCIAL SERVICES LIMITED
COMPANY INFORMATION
Director
Mr M A Bedwin
Company number
04964956
Registered office
The Mansley Centre
Timothys Bridge Road
Stratford-Upon-Avon
Warwickshire
CV37 9NQ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
LE87 2BB
STRATFORD FINANCIAL SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
STRATFORD FINANCIAL SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STRATFORD FINANCIAL SERVICES LIMITED FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stratford Financial Services Limited for the year ended 30 April 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Stratford Financial Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stratford Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of Stratford Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stratford Financial Services Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Stratford Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stratford Financial Services Limited. You consider that Stratford Financial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stratford Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
28 November 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
STRATFORD FINANCIAL SERVICES LIMITED
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
49,868
58,348
Current assets
Debtors
5
15,761
18,494
Cash at bank and in hand
1,722
2,829
17,483
21,323
Creditors: amounts falling due within one year
6
(54,890)
(29,398)
Net current liabilities
(37,407)
(8,075)
Total assets less current liabilities
12,461
50,273
Creditors: amounts falling due after more than one year
7
(2,250)
(40,122)
Provisions for liabilities
9
(9,475)
(9,525)
Net assets
736
626
Capital and reserves
Called up share capital
10
250
250
Profit and loss reserves
486
376
Total equity
736
626

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

STRATFORD FINANCIAL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023
30 April 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 28 November 2023.
Mr M A Bedwin
Director
Company Registration No. 04964956
STRATFORD FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
1
Accounting policies
Company information

Stratford Financial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Mansley Centre, Timothys Bridge Road, Stratford-Upon-Avon, Warwickshire, CV37 9NQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
20% on cost
Computer equipment
25% on reducing balance
Motor vehicles
12.5% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

STRATFORD FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
25,000
Amortisation and impairment
At 1 May 2022 and 30 April 2023
25,000
Carrying amount
At 30 April 2023
-
0
At 30 April 2022
-
0
STRATFORD FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
4
Tangible fixed assets
Office equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022 and 30 April 2023
4,187
3,651
65,750
73,588
Depreciation and impairment
At 1 May 2022
3,513
3,508
8,219
15,240
Depreciation charged in the year
225
36
8,219
8,480
At 30 April 2023
3,738
3,544
16,438
23,720
Carrying amount
At 30 April 2023
449
107
49,312
49,868
At 30 April 2022
674
143
57,531
58,348

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2022
£
£
Motor vehicles
49,312
57,531
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,857
12,772
Other debtors
8,904
5,722
15,761
18,494
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,000
703
Taxation and social security
8,721
13,531
Other creditors
43,169
15,164
54,890
29,398
STRATFORD FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,250
-
0
Other creditors
-
0
40,122
2,250
40,122
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
40,122
52,424
Bank loans
5,250
703
45,372
53,127
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
9,475
9,525
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100 Ordinary B of £1 each
100
100
100 Ordinary C of 50p each
50
50
250
250
STRATFORD FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 8 -
11
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan account
-
5,722
29,182
(26,000)
8,904
5,722
29,182
(26,000)
8,904

The director’s loan account was repaid within nine months of the year end.

12
Ultimate controlling party

The ultimate controlling party is Mr M A Bedwin.

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