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Registered Number: 10636041
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 31 August 2023

for

STOBART & HURRELL LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 57,317    10,956 
57,317    10,956 
Current assets      
Debtors 5 109,297    4,228 
Cash at bank and in hand 38,128    158,440 
147,425    162,668 
Creditors: amount falling due within one year 6 (50,948)   (96,865)
Net current assets 96,477    65,803 
 
Total assets less current liabilities 153,794    76,759 
Creditors: amount falling due after more than one year 7 (17,500)   (32,500)
Provisions for liabilities 8 (2,945)   (2,082)
Net assets 133,349    42,177 
 

Capital and reserves
     
Called up share capital 200    200 
Profit and loss account 133,149    41,977 
Shareholder's funds 133,349    42,177 
 


For the period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 February 2024 and were signed on its behalf by:


-------------------------------
Patrick Stobart
Director
1
General Information
Stobart & Hurrell Limited is a private company, limited by shares, registered in England and Wales, registration number 10636041, registration address 3a Horning Road West, Hoveton, NR12 8QJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 9 (2022 : 9).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 March 2022 2,695    2,695 
Additions  
Disposals  
At 31 August 2023 2,695    2,695 
Amortisation
At 01 March 2022 2,695    2,695 
Charge for period  
On disposals  
At 31 August 2023 2,695    2,695 
Net book values
At 31 August 2023  
At 28 February 2022  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 March 2022   33,031    33,031 
Additions 48,815    2,369    51,184 
Disposals    
At 31 August 2023 48,815    35,400    84,215 
Depreciation
At 01 March 2022   22,075    22,075 
Charge for period 1,897    2,926    4,823 
On disposals    
At 31 August 2023 1,897    25,001    26,898 
Net book values
Closing balance as at 31 August 2023 46,918    10,399    57,317 
Opening balance as at 01 March 2022   10,956    10,956 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 11,685    16,235 
Deposits paid (12,007)   (12,007)
Directors' Current Accounts 109,619   
109,297    4,228 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 7,699    3,936 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 16,778    61,137 
PAYE & Social Security 3,453    4,052 
Other Creditors 491    491 
Directors' Current Accounts   3,961 
VAT 12,527    13,288 
50,948    96,865 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 17,500    32,500 
17,500    32,500 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 2,082    2,358 
Charged to Profit & Loss 518    (276)
Pension Provisions 345   
2,945    2,082 

2