2022-10-012023-09-302023-09-30false04905731J T & J STEWART 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J T & J STEWART LIMITED

Registered Number
04905731
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

J T & J STEWART LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

STEWART, John

Company Secretary

STEWART, Margaret Elizabeth

Registered Address

Murley Moss, 12 Oxenholme Road
Kendal
Cumbria
LA9 7NJ

Registered Number

04905731 (England and Wales)
J T & J STEWART LIMITED
Statement of Financial Position
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5-3,000
Tangible assets646,14534,767
46,14537,767
Current assets
Stocks69,67376,611
Debtors834,97594,011
Cash at bank and on hand84,51295,681
189,160266,303
Creditors amounts falling due within one year9(243,051)(105,652)
Net current assets (liabilities)(53,891)160,651
Total assets less current liabilities(7,746)198,418
Creditors amounts falling due after one year10(31,667)(41,160)
Provisions for liabilities11(11,500)(6,600)
Net assets(50,913)150,658
Capital and reserves
Called up share capital50100
Other reserves50-
Profit and loss account(51,013)150,558
Shareholders' funds(50,913)150,658
The financial statements were approved and authorised for issue by the Director on 24 January 2024, and are signed on its behalf by:
STEWART, John
Director
Registered Company No. 04905731
J T & J STEWART LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
4.Employee information

20232022
Average number of employees during the year35
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 2260,00060,000
At 30 September 2360,00060,000
Amortisation and impairment
At 01 October 2257,00057,000
Charge for year3,0003,000
At 30 September 2360,00060,000
Net book value
At 30 September 23--
At 30 September 223,0003,000
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 October 2254,11235,54730,65811,6702,524134,511
Additions-4,00020,000--24,000
At 30 September 2354,11239,54750,65811,6702,524158,511
Depreciation and impairment
At 01 October 2240,01025,30321,68111,3471,40399,744
Charge for year2,7062,7286,8278128012,622
At 30 September 2342,71628,03128,50811,4281,683112,366
Net book value
At 30 September 2311,39611,51622,15024284146,145
At 30 September 2214,10210,2448,9773231,12134,767
7.Description of financial commitments other than capital commitments
During the year the company purchased 50 of its own £1 ordinary shares for £232,100.
8.Debtors

2023

2022

££
Trade debtors / trade receivables5,7264,108
Other debtors23,43180,946
Prepayments and accrued income5,8188,957
Total34,97594,011
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables16,14121,432
Bank borrowings and overdrafts4,1674,167
Taxation and social security10,05325,554
Other creditors209,55619,490
Accrued liabilities and deferred income3,13435,009
Total243,051105,652
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank loan is secured by fixed and floating charges over the company's assets.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts31,66741,160
Total31,66741,160
Bank loan is secured by fixed and floating charges over the company's assets.
11.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.

2023

2022

££
Net deferred tax liability (asset)11,5006,600
Total11,5006,600