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Company Registration No. 01432310 (England and Wales)
Stuart James Systems Limited Unaudited accounts for the year ended 31 July 2023
Stuart James Systems Limited Unaudited accounts Contents
Page
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Stuart James Systems Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
348,719 
357,292 
Current assets
Inventories
19,609 
21,471 
Debtors
1,922 
2,150 
Cash at bank and in hand
69,660 
63,376 
91,191 
86,997 
Creditors: amounts falling due within one year
(39,048)
(37,212)
Net current assets
52,143 
49,785 
Net assets
400,862 
407,077 
Capital and reserves
Called up share capital
20,100 
20,100 
Revaluation reserve
327,651 
336,151 
Profit and loss account
53,111 
50,826 
Shareholders' funds
400,862 
407,077 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 March 2024 and were signed on its behalf by
Dr M J Walker Director Company Registration No. 01432310
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Stuart James Systems Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Stuart James Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 01432310. The registered office is Willows End Sudbury Road, Yoxall, Burton On Trent, DE13 8PQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
20% reducing balance
Fixtures & fittings
20% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Stuart James Systems Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
425,000 
9,251 
8,151 
442,402 
At 31 July 2023
425,000 
9,251 
8,151 
442,402 
Depreciation
At 1 August 2022
68,000 
9,251 
7,859 
85,110 
Charge for the year
8,500 
- 
73 
8,573 
At 31 July 2023
76,500 
9,251 
7,932 
93,683 
Net book value
At 31 July 2023
348,500 
- 
219 
348,719 
At 31 July 2022
357,000 
- 
292 
357,292 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
884 
Other debtors
1,922 
1,266 
1,922 
2,150 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,380 
- 
Trade creditors
479 
3,330 
Taxes and social security
4,306 
2,133 
Loans from directors
31,553 
30,549 
Accruals
1,330 
1,200 
39,048 
37,212 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
18,100 Ordinary shares of £1 each
18,100 
18,100 
2,000 Ordinary 'A' shares of £1 each
2,000 
2,000 
20,100 
20,100 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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