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Registration number: 08997494

Brian Stephenson Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Brian Stephenson Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Brian Stephenson Limited

Company Information

Director

Mr B Stephenson

Registered office

Woodsdale
St Brides Netherwent
Penhow
Newport
South Wales
NP26 3AS

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Brian Stephenson Limited

(Registration number: 08997494)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

85,543

40,475

Other financial assets

5

10,000

10,000

 

95,543

50,475

Current assets

 

Debtors

795

958

Cash at bank and in hand

 

447,400

448,777

 

448,195

449,735

Prepayments and accrued income

 

3,955

-

Creditors: Amounts falling due within one year

(23,400)

(21,894)

Net current assets

 

428,750

427,841

Total assets less current liabilities

 

524,293

478,316

Accruals and deferred income

 

(3,283)

(2,820)

Net assets

 

521,010

475,496

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

520,910

475,396

Shareholders' funds

 

521,010

475,496

 

Brian Stephenson Limited

(Registration number: 08997494)
Abridged Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 August 2024
 

.........................................

Mr B Stephenson
Director

 

Brian Stephenson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Woodsdale
St Brides Netherwent
Penhow
Newport
South Wales
NP26 3AS

These financial statements were authorised for issue by the director on 16 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Brian Stephenson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Motor vehicles

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Brian Stephenson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

5,531

77,853

83,384

Additions

1,771

61,470

63,241

Disposals

-

(37,253)

(37,253)

At 30 April 2024

7,302

102,070

109,372

Depreciation

At 1 May 2023

4,986

37,923

42,909

Charge for the year

554

16,998

17,552

Eliminated on disposal

-

(36,632)

(36,632)

At 30 April 2024

5,540

18,289

23,829

Carrying amount

At 30 April 2024

1,762

83,781

85,543

At 30 April 2023

545

39,930

40,475

 

Brian Stephenson Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

5

Other financial assets (current and non-current)

Equity instruments at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Impairment

Carrying amount

At 30 April 2024

10,000

10,000

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of contingencies not included in the balance sheet is £60,996 (2023 - £60,996).

8

Related party transactions

Other transactions with the director

During the year, the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date, the amount owed to the director was £9,442 (2023: £5,821).