Company registration number 9266800 (England and Wales)
Classic Stamford Limited
Unaudited
financial statements
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Classic Stamford Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Classic Stamford Limited
Statement of financial position
as at 31 March 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
148,193
180,907
Current assets
Stocks
252,008
304,507
Debtors
4
124,670
115,035
Cash at bank and in hand
12,188
77,863
388,866
497,405
Creditors: amounts falling due within one year
5
(293,900)
(409,836)
Net current assets
94,966
87,569
Total assets less current liabilities
243,159
268,476
Creditors: amounts falling due after more than one year
6
(214,346)
(233,792)
Provisions for liabilities
7
(28,512)
(34,372)
Net assets
301
312
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
201
212
Total equity
301
312
Classic Stamford Limited
Statement of financial position (continued)
as at 31 March 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 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.

The financial statements were approved by the board of directors and authorised for issue on 6 August 2024 and are signed on its behalf by:
D Barford
Director
Company Registration No. 9266800
Classic Stamford Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
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.

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

Turnover

Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of goods and services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line over 10 years
Fixtures, fittings & equipment
Straight line over 3 years
Motor vehicles
25% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 is recognised on all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computations of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates that have been enacted or substantively enacted by the end of the reporting period.

Classic Stamford Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
7
7
3
Tangible fixed assets
Land and buildings Leasehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
42,762
14,106
182,495
239,363
Additions
-
0
2,504
23,994
26,498
Disposals
-
0
-
0
(20,172)
(20,172)
At 31 March 2024
42,762
16,610
186,317
245,689
Depreciation and impairment
At 1 April 2023
4,342
8,656
45,458
58,456
Depreciation charged in the year
4,276
3,465
31,299
39,040
At 31 March 2024
8,618
12,121
76,757
97,496
Carrying amount
At 31 March 2024
34,144
4,489
109,560
148,193
At 31 March 2023
38,420
5,450
137,037
180,907
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
35,001
53,553
Other debtors
77,196
49,009
Prepayments and accrued income
12,473
12,473
124,670
115,035
Classic Stamford Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,036
9,964
Obligations under finance leases
30,068
24,288
Trade creditors
73,195
173,644
Corporation tax
25,988
2,946
Other taxation and social security
21,065
47,712
Accruals and deferred income
133,548
151,282
293,900
409,836

The obligations under finance leases are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
119,481
129,588
Obligations under finance leases
94,865
104,204
214,346
233,792

The obligations under finance leases are secured on the assets to which they relate.

7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
28,512
34,372
8
Company information

Classic Stamford Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

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