Registered number
07952040
STEPHEN READ SERVICES LTD
Filleted Accounts
31 March 2024
STEPHEN READ SERVICES LTD
Registered number: 07952040
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,125 64,209
Current assets
Debtors 4 110,231 81,063
Cash at bank and in hand 54,710 31,584
164,941 112,647
Creditors: amounts falling due within one year 5 (47,856) (45,939)
Net current assets 117,085 66,708
Total assets less current liabilities 177,210 130,917
Provisions for liabilities (14,069) (12,200)
Net assets 163,141 118,717
Capital and reserves
Called up share capital 10 10
Profit and loss account 163,131 118,707
Shareholders' funds 163,141 118,717
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
STEPHEN READ
Director
Approved by the board on 8 August 2024
STEPHEN READ SERVICES LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% written down value
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 170,170
Additions 15,958
At 31 March 2024 186,128
Depreciation
At 1 April 2023 105,961
Charge for the year 20,042
At 31 March 2024 126,003
Net book value
At 31 March 2024 60,125
At 31 March 2023 64,209
4 Debtors 2024 2023
£ £
Trade debtors 100,663 78,846
Other debtors 9,568 2,217
110,231 81,063
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 466 3,405
Taxation and social security costs 34,868 26,381
Other creditors 12,522 16,153
47,856 45,939
6 Other information
STEPHEN READ SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
PONDFIELD FARM
DUNSFOLD ROAD
ALFOLD
SURREY
GU6 8JB
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