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REGISTERED NUMBER: 04329564 (England and Wales)












Stevenson Homes Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Stevenson Homes Limited (Registered number: 04329564)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Stevenson Homes Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: M F Stevenson
Mrs W J Stevenson
D M Stevenson





SECRETARY: Mrs W J Stevenson





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Pennygillam Industrial Estate
Launceston
Cornwall
PL15 7ED





REGISTERED NUMBER: 04329564 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Stevenson Homes Limited (Registered number: 04329564)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,238 33,637
Investment property 5 427,245 427,245
455,483 460,882

CURRENT ASSETS
Stocks 6 498,000 458,574
Debtors 7 310,857 78,813
Cash at bank 62,359 429,065
871,216 966,452
CREDITORS
Amounts falling due within one year 8 268,040 523,486
NET CURRENT ASSETS 603,176 442,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,058,659

903,848

CREDITORS
Amounts falling due after more than one
year

9

(145,232

)

(177,791

)

PROVISIONS FOR LIABILITIES (7,059 ) (8,409 )
NET ASSETS 906,368 717,648

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 905,368 716,648
SHAREHOLDERS' FUNDS 906,368 717,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Stevenson Homes Limited (Registered number: 04329564)

Statement of Financial Position - continued
31st March 2024


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 1st September 2024 and were signed on its behalf by:





M F Stevenson - Director


Stevenson Homes Limited (Registered number: 04329564)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Stevenson Homes 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the sale of goods and services, net of value added tax.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is included within the financial statements at fair value.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.
Net realisable value represents the amount recoverable on sale less the costs to be incurred in getting the project to completion.
Direct cost is calculated on the cost of raw materials, direct labour and other associated development costs, but excludes overheads and interest.
On property development projects, profits are not accounted for until the legal ownership of the works passes to the purchaser.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

Stevenson Homes Limited (Registered number: 04329564)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 42,196 76,095 118,291
Additions 4,130 - 4,130
Disposals - (4,600 ) (4,600 )
At 31st March 2024 46,326 71,495 117,821
DEPRECIATION
At 1st April 2023 28,927 55,727 84,654
Charge for year 4,005 4,960 8,965
Eliminated on disposal - (4,036 ) (4,036 )
At 31st March 2024 32,932 56,651 89,583
NET BOOK VALUE
At 31st March 2024 13,394 14,844 28,238
At 31st March 2023 13,269 20,368 33,637

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 427,245
NET BOOK VALUE
At 31st March 2024 427,245
At 31st March 2023 427,245

Investment property was valued on a fair value basis as at 31st March 2024 by the Director, Michael Stevenson.

6. STOCKS
2024 2023
£    £   
Work-in-progress 498,000 458,574

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,200 14,796
Other debtors 282,657 64,017
310,857 78,813

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,600 34,600
Trade creditors 51,688 154,210
Taxation and social security 96,949 117,565
Other creditors 84,803 217,111
268,040 523,486

Stevenson Homes Limited (Registered number: 04329564)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 145,232 177,791

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 75,582 83,141

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 179,832 212,391

Lloyds have fixed and floating charges over all of the company assets in order to secure bank loans.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
M F Stevenson and Mrs W J Stevenson
Balance outstanding at start of year 59,491 (266,695 )
Amounts advanced 687,344 503,510
Amounts repaid (478,891 ) (177,324 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 267,944 59,491

The directors loan account is shown within debtors and has been repaid within 9 months of the year end. The official rate of interest has been charged on the balance.