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REGISTERED NUMBER: 04517711 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Stephen & Co Limited

Stephen & Co Limited (Registered number: 04517711)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stephen & Co Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M T Ripley
A J Smith





SECRETARY: A J Smith





REGISTERED OFFICE: Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX





REGISTERED NUMBER: 04517711 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Stephen & Co Limited (Registered number: 04517711)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,346 7,583
6,346 7,583

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 6 77,495 90,913
Cash at bank and in hand 167,828 179,722
248,323 273,635
CREDITORS
Amounts falling due within one year 7 113,642 116,892
NET CURRENT ASSETS 134,681 156,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,027

164,326

CREDITORS
Amounts falling due after more than one
year

8

14,837

25,088
NET ASSETS 126,190 139,238

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 20 20
Retained earnings 125,970 139,018
SHAREHOLDERS' FUNDS 126,190 139,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Stephen & Co Limited (Registered number: 04517711)

Balance Sheet - continued
31 December 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 30 August 2024 and were signed on its behalf by:




M T Ripley - Director



A J Smith - Director


Stephen & Co Limited (Registered number: 04517711)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Stephen & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Turnover is recognised in the accounting period in which the the services are rendered when the outcome of the contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 147,450
AMORTISATION
At 1 January 2023
and 31 December 2023 147,450
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Stephen & Co Limited (Registered number: 04517711)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 48,796
Additions 234
At 31 December 2023 49,030
DEPRECIATION
At 1 January 2023 41,213
Charge for year 1,471
At 31 December 2023 42,684
NET BOOK VALUE
At 31 December 2023 6,346
At 31 December 2022 7,583

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,242 35,131
Other debtors 1,574 1,574
Amounts recoverable 14,498 9,458
Prepayments 1,956 6,513
Directors' current accounts 37,225 38,237
77,495 90,913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,163 9,912
Trade creditors 2,501 8,315
Corporation tax 6,612 22,768
Social security and other taxes 679 755
VAT 12,324 14,041
Amounts due to clients 76,802 55,072
Accrued expenses 4,561 6,029
113,642 116,892

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,419 10,163
Bank loans - 2-5 years 4,418 14,925
14,837 25,088

Stephen & Co Limited (Registered number: 04517711)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 17,077 17,077
Between one and five years 14,169 31,247
31,246 48,324

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The cumulative overdrawn director's loan account balance for 2023 is £37,225 (2022: £38,237) following advances of £63,839 (2022: £63,904) and repayments of £64,851 (2022: £48,845).