Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr D M Loram 14/05/2024 Mr I D Loram 01/11/2002 Mr S W Loram 14/05/2024 05 September 2024 The principal activity of the Company during the financial year was that of a funeral directors. 04579789 2024-03-31 04579789 bus:Director1 2024-03-31 04579789 bus:Director2 2024-03-31 04579789 bus:Director3 2024-03-31 04579789 2023-03-31 04579789 core:CurrentFinancialInstruments 2024-03-31 04579789 core:CurrentFinancialInstruments 2023-03-31 04579789 core:Non-currentFinancialInstruments 2024-03-31 04579789 core:Non-currentFinancialInstruments 2023-03-31 04579789 core:ShareCapital 2024-03-31 04579789 core:ShareCapital 2023-03-31 04579789 core:RetainedEarningsAccumulatedLosses 2024-03-31 04579789 core:RetainedEarningsAccumulatedLosses 2023-03-31 04579789 core:Goodwill 2023-03-31 04579789 core:Goodwill 2024-03-31 04579789 core:LandBuildings 2023-03-31 04579789 core:LeaseholdImprovements 2023-03-31 04579789 core:PlantMachinery 2023-03-31 04579789 core:Vehicles 2023-03-31 04579789 core:LandBuildings 2024-03-31 04579789 core:LeaseholdImprovements 2024-03-31 04579789 core:PlantMachinery 2024-03-31 04579789 core:Vehicles 2024-03-31 04579789 bus:OrdinaryShareClass1 2024-03-31 04579789 bus:PreferenceShareClass1 2024-03-31 04579789 2023-04-01 2024-03-31 04579789 bus:FilletedAccounts 2023-04-01 2024-03-31 04579789 bus:SmallEntities 2023-04-01 2024-03-31 04579789 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04579789 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04579789 bus:Director1 2023-04-01 2024-03-31 04579789 bus:Director2 2023-04-01 2024-03-31 04579789 bus:Director3 2023-04-01 2024-03-31 04579789 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 04579789 core:Goodwill 2023-04-01 2024-03-31 04579789 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 04579789 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 04579789 core:Vehicles 2023-04-01 2024-03-31 04579789 2022-04-01 2023-03-31 04579789 core:LandBuildings 2023-04-01 2024-03-31 04579789 core:LeaseholdImprovements 2023-04-01 2024-03-31 04579789 core:PlantMachinery 2023-04-01 2024-03-31 04579789 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 04579789 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04579789 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04579789 bus:PreferenceShareClass1 2023-04-01 2024-03-31 04579789 bus:PreferenceShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04579789 (England and Wales)

T & I STOCKMAN LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

T & I STOCKMAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

T & I STOCKMAN LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
T & I STOCKMAN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr D M Loram (Appointed 14 May 2024)
Mr I D Loram
Mr S W Loram (Appointed 14 May 2024)
SECRETARY Mrs V B Loram
REGISTERED OFFICE 17 Holwell Road
Brixham
TQ5 9NE
United Kingdom
COMPANY NUMBER 04579789 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
T & I STOCKMAN LIMITED

BALANCE SHEET

As at 31 March 2024
T & I STOCKMAN LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 2,787,402 2,862,802
2,787,402 2,862,802
Current assets
Stocks 70,000 70,000
Debtors 5 248,889 151,259
Cash at bank and in hand 839,570 843,369
1,158,459 1,064,628
Creditors: amounts falling due within one year 6 ( 287,731) ( 334,868)
Net current assets 870,728 729,760
Total assets less current liabilities 3,658,130 3,592,562
Creditors: amounts falling due after more than one year 7 ( 41,175) ( 41,175)
Provision for liabilities ( 17,418) ( 19,981)
Net assets 3,599,537 3,531,406
Capital and reserves
Called-up share capital 8 869,251 869,251
Profit and loss account 2,730,286 2,662,155
Total shareholder's funds 3,599,537 3,531,406

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of T & I Stockman Limited (registered number: 04579789) were approved and authorised for issue by the Board of Directors on 05 September 2024. They were signed on its behalf by:

Mr I D Loram
Director
T & I STOCKMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
T & I STOCKMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T & I Stockman Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 Holwell Road, Brixham, TQ5 9NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements depreciated over the life of the lease
Plant and machinery 3 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 22 25

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 688,000 688,000
At 31 March 2024 688,000 688,000
Accumulated amortisation
At 01 April 2023 688,000 688,000
At 31 March 2024 688,000 688,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £ £
Cost
At 01 April 2023 3,023,080 203,412 299,716 616,813 4,143,021
Additions 0 0 28,325 0 28,325
At 31 March 2024 3,023,080 203,412 328,041 616,813 4,171,346
Accumulated depreciation
At 01 April 2023 335,569 203,412 279,479 461,759 1,280,219
Charge for the financial year 57,369 0 7,591 38,765 103,725
At 31 March 2024 392,938 203,412 287,070 500,524 1,383,944
Net book value
At 31 March 2024 2,630,142 0 40,971 116,289 2,787,402
At 31 March 2023 2,687,511 0 20,237 155,054 2,862,802

5. Debtors

2024 2023
£ £
Trade debtors 236,483 141,359
Other debtors 12,406 9,900
248,889 151,259

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 47,064 65,414
Corporation tax 143,770 156,849
Other taxation and social security 28,850 16,152
Other creditors 68,047 96,453
287,731 334,868

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 41,175 41,175

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1
915,000 Redeemable Preference shares of £ 1.00 each 915,000 915,000
915,001 915,001

9. Ultimate controlling party

Parent Company:

T & I Stockman Holdings Limited
Registered office :
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF