Company registration number 00629715 (England and Wales)
STEVENS & SHIPPERLEY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
STEVENS & SHIPPERLEY LIMITED
COMPANY INFORMATION
Directors
Mr P Shipperley
Mr C Shipperley
Company number
00629715
Registered office
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Accountants
Ellacotts LLP
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
STEVENS & SHIPPERLEY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
STEVENS & SHIPPERLEY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STEVENS & SHIPPERLEY LIMITED FOR THE YEAR ENDED 30 JUNE 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 Stevens & Shipperley Limited for the year ended 30 June 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 https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Stevens & Shipperley Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stevens & Shipperley Limited and state those matters that we have agreed to state to the Board of Directors of Stevens & Shipperley 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 Stevens & Shipperley Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Stevens & Shipperley 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 loss of Stevens & Shipperley Limited. You consider that Stevens & Shipperley 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 Stevens & Shipperley 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.

Ellacotts LLP
Chartered Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Date:
1 May 2024
STEVENS & SHIPPERLEY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
144,016
115,254
Current assets
Stocks
5
38,874
76,426
Debtors
6
297,241
252,030
Cash at bank and in hand
63,324
58,338
399,439
386,794
Creditors: amounts falling due within one year
7
(486,883)
(315,595)
Net current (liabilities)/assets
(87,444)
71,199
Total assets less current liabilities
56,572
186,453
Creditors: amounts falling due after more than one year
8
(20,000)
-
0
Provisions for liabilities
-
0
(2,228)
Net assets
36,572
184,225
Capital and reserves
Called up share capital
9
400
400
Profit and loss reserves
36,172
183,825
Total equity
36,572
184,225

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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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.

STEVENS & SHIPPERLEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 1 May 2024 and are signed on its behalf by:
Mr C  Shipperley
Director
Company Registration No. 00629715
STEVENS & SHIPPERLEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 4 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Stevens & Shipperley Limited is a private company limited by shares incorporated in England and Wales. The registered office is Countrywide House, 23 West Bar, Banbury, Oxfordshire, England, OX16 9SA.

2.1
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

2.2
Going concern

Notwithstanding the net current liabilities shown on the balance sheet, at the time of approving these financial statements, the directors consider that the business is well placed to respond to the challenging market conditions and any prolonged recession that may lay ahead. Accordingly, the financial statements are prepared on the going concern basis.true

2.3
Turnover

Turnover represents the value of work done in the year, including estimates of amounts not invoiced, derived from the provision of goods and services after deduction of trade discounts and value added tax.

2.4
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:

Short Leasehold
Over the life of the lease
Fittings & equipment
20% reducing balance method
Motor vehicles
25% reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STEVENS & SHIPPERLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2
Accounting policies
(Continued)
- 5 -
2.5
Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis.

 

Net realisable value is based on estimated selling price less the estimated cost of disposal.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.6
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.

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.

2.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.8
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

 

Two directors are accruing benefits under money purchase schemes (2022 - two).

 

 

 

STEVENS & SHIPPERLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
2
Accounting policies
(Continued)
- 6 -
2.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
12
12
4
Tangible fixed assets
Short Leasehold
Fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022
144,363
39,691
29,501
213,555
Additions
-
0
13,642
46,847
60,489
At 30 June 2023
144,363
53,334
76,348
274,045
Depreciation and impairment
At 1 July 2022
62,859
13,063
22,379
98,301
Depreciation charged in the year
10,182
8,054
13,492
31,728
At 30 June 2023
73,041
21,117
35,871
130,029
Carrying amount
At 30 June 2023
71,322
32,217
40,477
144,016
At 30 June 2022
81,504
26,628
7,122
115,254
5
Stocks
2023
2022
£
£
Stocks
38,874
76,426
STEVENS & SHIPPERLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
219,116
187,250
Corporation tax recoverable
11,623
-
0
Other debtors
15,917
17,913
Prepayments and accrued income
29,368
46,867
276,024
252,030
Deferred tax asset
21,217
-
0
297,241
252,030
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
40,010
Trade creditors
339,264
208,680
Corporation tax
-
0
11,623
Other taxation and social security
76,553
50,363
Other creditors
58,790
3,539
Accruals and deferred income
2,276
1,380
486,883
315,595
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,000
-
0
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
400
400
400
400
STEVENS & SHIPPERLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

2023
2022
£
£
99,875
-
0
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