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Registration number: 13507292

D. Stutley & Sons Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

D. Stutley & Sons Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

D. Stutley & Sons Ltd

Company Information

Director

David Harry Stutley

Registered office

Manor Farm
Chapel Street
Hinxworth
Hertfordshire
SG7 5HN

Accountants

Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

 

Chartered Management Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
D. Stutley & Sons Ltd
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D. Stutley & Sons Ltd for the year ended 31 July 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements. Details of these can be found at www.aicpa-cima.com

This report is made solely to the Board of Directors of D. Stutley & Sons Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of D. Stutley & Sons Ltd and state those matters that we have agreed to state to the Board of Directors of D. Stutley & Sons Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D. Stutley & Sons Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that D. Stutley & Sons Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of D. Stutley & Sons Ltd. You consider that D. Stutley & Sons Ltd 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 accounts of D. Stutley & Sons Ltd. 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 accounts.

......................................

Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

19 April 2024

 

D. Stutley & Sons Ltd

(Registration number: 13507292)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,123,660

-

Current assets

 

Cash at bank and in hand

 

153

44

Creditors: Amounts falling due within one year

5

(30,954)

(1,674)

Net current liabilities

 

(30,801)

(1,630)

Net assets/(liabilities)

 

2,092,859

(1,630)

Capital and reserves

 

Called up share capital

6

1,993,182

2

Retained earnings

99,677

(1,632)

Shareholders' funds/(deficit)

 

2,092,859

(1,630)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 April 2024
 

.........................................
David Harry Stutley
Director

 

D. Stutley & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Manor Farm
Chapel Street
Hinxworth
Hertfordshire
SG7 5HN

These financial statements were authorised for issue by the director on 19 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

D. Stutley & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,123,660

-

 

D. Stutley & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Subsidiaries

£

Cost or valuation

Additions

2,123,660

Provision

Carrying amount

At 31 July 2023

2,123,660

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

A Stutley & Sons Limited

Manor Farm
Chalpe Street
Hinxworth
Nr Baldock
Hertfordshire
SG7 5HN

England & Wales

Ordinary Shares

100%

0%

Subsidiary undertakings

A Stutley & Sons Limited

The principal activity of A Stutley & Sons Limited is Agriculture. Its financial period end is 31 March.

 

D. Stutley & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13

13

Taxation and social security

26,505

-

Accruals and deferred income

1,800

420

Other creditors

2,636

1,241

30,954

1,674

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary Shares of £1 (2022 - £0) each

747,443

747,443

-

-

B Ordinary Shares of £1 (2022 - £0) each

747,443

747,443

-

-

C Ordinary Shares of £1 (2022 - £0) each

199,318

199,318

-

-

D Ordinary Shares of £1 (2022 - £0) each

249,148

249,148

-

-

E Ordinary Shares of £1 (2022 - £0) each

24,915

24,915

-

-

F Ordinary Shares of £1 (2022 - £0) each

24,915

24,915

-

-

Ordinary Shares of £0 (2022 - £1) each

-

-

2

2

 

1,993,182

1,993,182

2

2

7

Related party transactions

During the year the company aquired the total issued share capital of A Stutely and Sons Limited and Stutley Brothers limited from the Director D H Stutley and joint shareholder J C Stutley in exchange for shares in D Stutley and Sons Limited. It subsequantly demerged Stutley Brothers limited from the group in exchange for the shareholding in D Stutley and Son Limited owned by J C Stutley.

 

D. Stutley & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Parent and ultimate parent undertaking

The ultimate controlling party is D H Stutley and K Stutley.