14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 98,265 98,264 1 1 xbrli:pure xbrli:shares iso4217:GBP 06772535 2023-01-01 2023-12-31 06772535 2023-12-31 06772535 2022-12-31 06772535 2022-01-01 2022-12-31 06772535 2022-12-31 06772535 2021-12-31 06772535 core:NetGoodwill 2023-01-01 2023-12-31 06772535 core:PlantMachinery 2023-01-01 2023-12-31 06772535 core:FurnitureFittings 2023-01-01 2023-12-31 06772535 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06772535 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 06772535 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 06772535 bus:Director1 2023-01-01 2023-12-31 06772535 bus:Director2 2023-01-01 2023-12-31 06772535 core:NetGoodwill 2023-12-31 06772535 core:PlantMachinery 2023-12-31 06772535 core:FurnitureFittings 2023-12-31 06772535 core:WithinOneYear 2023-12-31 06772535 core:WithinOneYear 2022-12-31 06772535 core:ShareCapital 2023-12-31 06772535 core:ShareCapital 2022-12-31 06772535 core:RetainedEarningsAccumulatedLosses 2023-12-31 06772535 core:RetainedEarningsAccumulatedLosses 2022-12-31 06772535 core:NetGoodwill 2022-12-31 06772535 core:PlantMachinery 2022-12-31 06772535 core:FurnitureFittings 2022-12-31 06772535 bus:Director1 2022-12-31 06772535 bus:Director1 2023-12-31 06772535 bus:Director2 2023-12-31 06772535 bus:Director1 2021-12-31 06772535 bus:Director1 2022-12-31 06772535 bus:SmallEntities 2023-01-01 2023-12-31 06772535 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06772535 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06772535 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06772535 bus:FullAccounts 2023-01-01 2023-12-31 06772535 bus:OrdinaryShareClass1 2023-12-31 06772535 bus:OrdinaryShareClass1 2022-12-31 06772535 bus:OrdinaryShareClass2 2023-12-31 06772535 bus:OrdinaryShareClass2 2022-12-31 06772535 bus:OrdinaryShareClass3 2023-12-31 06772535 bus:OrdinaryShareClass3 2022-12-31 06772535 bus:AllOrdinaryShares 2023-12-31 06772535 bus:AllOrdinaryShares 2022-12-31
COMPANY REGISTRATION NUMBER: 06772535
Stewart Associates Shrewsbury Ltd
Filleted Unaudited Financial Statements
31 December 2023
Stewart Associates Shrewsbury Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed Assets
Intangible assets
5
1
1
Tangible assets
6
2
2
----
----
3
3
Current Assets
Debtors
7
804,145
548,090
Cash at bank and in hand
962,932
988,684
-------------
-------------
1,767,077
1,536,774
Creditors: amounts falling due within one year
8
328,067
323,388
-------------
-------------
Net Current Assets
1,439,010
1,213,386
-------------
-------------
Total Assets Less Current Liabilities
1,439,013
1,213,389
-------------
-------------
Capital and Reserves
Called up share capital
9
180
180
Profit and loss account
1,438,833
1,213,209
-------------
-------------
Shareholders Funds
1,439,013
1,213,389
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Stewart Associates Shrewsbury Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr I P Stewart
Director
Company registration number: 06772535
Stewart Associates Shrewsbury Ltd
Notes to the Financial Statements
Year ended 31st December 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Emstrey House North, Shrewsbury Business Park, Shrewsbury, SY2 6LG.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Acquired Goodwill has been written off in earlier years at a rate of 10% per annum.
Goodwill
-
10% straight line
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 14 (2022: 12 ).
5. Intangible Assets
Goodwill
£
Cost
At 1st January 2023 and 31st December 2023
98,265
---------
Amortisation
At 1st January 2023 and 31st December 2023
98,264
---------
Carrying amount
At 31st December 2023
1
---------
At 31st December 2022
1
---------
6. Tangible Assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1st January 2023 and 31st December 2023
4,989
9,885
14,874
-------
-------
---------
Depreciation
At 1st January 2023 and 31st December 2023
4,988
9,884
14,872
-------
-------
---------
Carrying amount
At 31st December 2023
1
1
2
-------
-------
---------
At 31st December 2022
1
1
2
-------
-------
---------
7. Debtors
2023
2022
£
£
Trade debtors
240,613
437,365
Other debtors
563,532
110,725
----------
----------
804,145
548,090
----------
----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,592
Trade creditors
109,146
136,218
Corporation tax
98,085
75,265
Social security and other taxes
114,548
109,209
Other creditors
2,696
2,696
----------
----------
328,067
323,388
----------
----------
9. Called Up Share Capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
125
125
125
125
Ordinary B shares of £ 1 each
50
50
50
50
Ordinary C shares of £ 1 each
5
5
5
5
----
----
----
----
180
180
180
180
----
----
----
----
10. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr I P Stewart
( 2,096)
( 2,096)
Mr R I Cooke
10,000
10,000
-------
---------
---------
( 2,096)
10,000
7,904
-------
---------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr I P Stewart
( 2,096)
( 2,096)
Mr R I Cooke
-------
----
-------
( 2,096)
( 2,096)
-------
----
-------
The non-interest bearing loan is repayable on demand