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REGISTERED NUMBER: 04970056 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

RK & JS Stothard Limited

RK & JS Stothard Limited (Registered number: 04970056)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RK & JS Stothard Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: R K Stothard
J S Stothard





SECRETARY: J S Stothard





REGISTERED OFFICE: The Barn
107 High Street
Scopwick
Lincoln
LN4 3NW





REGISTERED NUMBER: 04970056 (England and Wales)





ACCOUNTANTS: Reeve & Co
Chartered Certified Accountants
Unit 14 Oak House
Witham Park
Waterside South
Lincoln
LN5 7FB

RK & JS Stothard Limited (Registered number: 04970056)

Balance Sheet
30 November 2023

30.11.22 30.11.23
£    £    Notes £    £   
FIXED ASSETS
8,653 Property, plant and equipment 4 3,438

CURRENT ASSETS
8,500 Inventories 8,500
60,252 Debtors 5 77,163
68,752 85,663
CREDITORS
45,215 Amounts falling due within one year 6 53,675
23,537 NET CURRENT ASSETS 31,988
32,190 TOTAL ASSETS LESS CURRENT LIABILITIES 35,426

1,644 PROVISIONS FOR LIABILITIES 1,644
30,546 NET ASSETS 33,782

CAPITAL AND RESERVES
100 Called up share capital 100
30,446 Retained earnings 33,682
30,546 SHAREHOLDERS' FUNDS 33,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RK & JS Stothard Limited (Registered number: 04970056)

Balance Sheet - continued
30 November 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:




R K Stothard - Director



J S Stothard - Director


RK & JS Stothard Limited (Registered number: 04970056)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

RK & JS Stothard Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools and equipment - 20% on cost
Office equipment - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

RK & JS Stothard Limited (Registered number: 04970056)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Tools and Office Motor Computer
Totals equipment equipment vehicles equipment
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 66,906 4,174 1,653 55,848 5,231
DEPRECIATION
At 1 December 2022 58,253 3,354 1,653 49,548 3,698
Charge for year 5,215 273 - 4,448 494
At 30 November 2023 63,468 3,627 1,653 53,996 4,192
NET BOOK VALUE
At 30 November 2023 3,438 547 - 1,852 1,039
At 30 November 2022 8,653 820 - 6,300 1,533

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 66,382 49,270
VAT 7,978 8,004
Prepayments 2,803 2,978
77,163 60,252

RK & JS Stothard Limited (Registered number: 04970056)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 7,574 98
Trade creditors 25,599 27,433
Corporation tax 14,879 11,540
Social security and other taxes 1,776 1,780
Other creditors 3,623 4,349
Directors' current accounts 224 15
53,675 45,215