Company registration number 12325038 (England and Wales)
Sam Stafford Ltd
Unaudited financial statements
For the year ended 30 November 2023
Sam Stafford Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Sam Stafford Ltd
Balance sheet
As at 30 November 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
510
532
Current assets
Debtors
4
31,702
20,116
Cash at bank and in hand
180,139
260,576
211,841
280,692
Creditors: amounts falling due within one year
5
(49,593)
(73,978)
Net current assets
162,248
206,714
Total assets less current liabilities
162,758
207,246
Provisions for liabilities
6
(97)
(101)
Net assets
162,661
207,145
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
162,561
207,045
Total equity
162,661
207,145
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
Sam Stafford Ltd
Balance sheet (continued)
As at 30 November 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 August 2024
S Stafford
Director
Company registration number 12325038 (England and Wales)
SAM STAFFORD LTD
Sam Stafford Ltd
Notes to the financial statements
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Sam Stafford Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF.
1.1
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.
1.2
Turnover
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
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:
Computers
33% straight line
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.
1.4
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.
SAM STAFFORD LTD
Sam Stafford Ltd
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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.
1.5
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
915
Additions
349
At 30 November 2023
1,264
Depreciation and impairment
At 1 December 2022
383
Depreciation charged in the year
371
At 30 November 2023
754
Carrying amount
At 30 November 2023
510
At 30 November 2022
532
SAM STAFFORD LTD
Sam Stafford Ltd
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
25,920
13,717
Other debtors
5,083
5,773
Prepayments and accrued income
699
626
31,702
20,116
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,680
Taxation and social security
5,571
34,447
Other creditors
42,342
39,531
49,593
73,978
Included in other creditors are accruals of £41,150 (2022 - £23,578)
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
97
101
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
8
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
£
£
11,201
2,066