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REGISTERED NUMBER: 00894901 (England and Wales)






















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

John A Stephens Limited

John A Stephens Limited (Registered number: 00894901)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 7

Statement of Financial Position 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


John A Stephens Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J A Taylor
S P Long
D W Monks
P Long
P J Stephens





SECRETARY: S P Westwood





REGISTERED OFFICE: Castle Meadow Road
Nottingham
Nottinghamshire
NG2 1AG





REGISTERED NUMBER: 00894901 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

John A Stephens Limited (Registered number: 00894901)

Strategic Report
for the Year Ended 31 December 2023

Business review and future plans

The year under review showed a decrease in turnover. This is a result of several factors including inclement weather in the UK, coupled with a degree of uncertainty in the building and construction sector and rising material prices. This reduction however is expected to be short term and the Board has made the decision to maintain its high staffing levels, as opposed to reducing staff numbers. Although this decision has been the main contributing factor to the loss witnessed in the year, the company is very well positioned to service its customers and the wider construction sector as trade begins to increase. The company maintains its position as one of the leading independent merchants in the Midlands area.

Liquidity and solvency ratios for the period continue to reflect the strong financial position that the company maintains. The company expects its future performance to be affected by prevailing economic pressures on the construction industry and government policies within the general economy.

The company has continued to make significant investments in new plant and equipment during the year and the Board expect to see the benefit of this in the coming years.

Analysis of key performance indicators

The Board looks at turnover, margins and profitability when monitoring business performance.

Turnover decreased by 12.5%, with gross profit margins remaining consistent with the previous year. Due to the reduction in turnover, the company has made a post tax loss of £162k.

The Board also considers key statement of financial position areas in order to understand the financial position of the company.

Net current assets have decreased slightly in the year . The Board is satisfied that key statement of financial position sections remain strong, in particular cash at bank. The Board is satisfied that the company can continue to pay its debts as they fall due for the foreseeable future.

Principal risks and uncertainties

The directors consider the principal financial risks to which the company is exposed are a decline in market share and the timing of a recovery in the house building and construction industries. These industries are affected by governmental policies and these are also likely to impact on the results of the company.

The directors' management of the former risk has involved the monitoring of both supplier and competitor prices and the development of the company's selling outlets.

The company is not significantly exposed to credit risks, given the cash based nature of its operations. In relation to trade customers, the company is exposed to the usual credit risk and cash flow risk associated with its business and manages this through tight credit control procedures.

ON BEHALF OF THE BOARD:





P J Stephens - Director


17 September 2024

John A Stephens Limited (Registered number: 00894901)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a builders merchant.

DIVIDENDS
No interim dividends were paid during the year ended 31 December 2023.

The directors recommend final dividends per share as follows:

Ordinary £1 shares £72
Preference £1 shares NIL

The total distribution of dividends for the year ended 31 December 2023 will be £ 144,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

J A Taylor
S P Long
D W Monks
P Long
P J Stephens

Other changes in directors holding office are as follows:

C J Turner - resigned 12 July 2023
J M Daniel - resigned 5 April 2023
A P Stephens - resigned 1 August 2023

PROFESSIONAL INDEMNITY INSURANCE
The company takes out indemnity insurance on behalf of the directors.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report. The report includes an explanation of the company's financial risk management policies.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

John A Stephens Limited (Registered number: 00894901)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





P J Stephens - Director


17 September 2024

Report of the Independent Auditors to the Members of
John A Stephens Limited

Opinion
We have audited the financial statements of John A Stephens Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
John A Stephens Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the
company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims.

In addition, and based on the results of our risk assessment we designed audit procedures to identify and address
material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override
that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for
appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Shaw BSc FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

17 September 2024

John A Stephens Limited (Registered number: 00894901)

Statement of Comprehensive
Income
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 3 24,330,048 27,812,369

Cost of sales 16,966,159 19,316,673
GROSS PROFIT 7,363,889 8,495,696

Administrative expenses 8,179,442 8,822,528
(815,553 ) (326,832 )

Other operating income 316,154 434,595
OPERATING (LOSS)/PROFIT 5 (499,399 ) 107,763

Interest receivable and similar income 245,419 96,972
(253,980 ) 204,735

Interest payable and similar expenses 6 - 1,903
(LOSS)/PROFIT BEFORE TAXATION (253,980 ) 202,832

Tax on (loss)/profit 7 (91,934 ) (66,298 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (162,046 ) 269,130

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(162,046

)

269,130

John A Stephens Limited (Registered number: 00894901)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 11,712 8,800
Tangible assets 10 3,205,780 3,450,412
Investments 11 1,943,837 1,622,824
5,161,329 5,082,036

CURRENT ASSETS
Stocks 12 2,792,903 2,974,833
Debtors 13 6,183,224 6,524,840
Cash at bank and in hand 3,812,148 4,323,418
12,788,275 13,823,091
CREDITORS
Amounts falling due within one year 14 1,595,287 2,155,787
NET CURRENT ASSETS 11,192,988 11,667,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,354,317

16,749,340

PROVISIONS FOR LIABILITIES 15 129,028 218,005
NET ASSETS 16,225,289 16,531,335

CAPITAL AND RESERVES
Called up share capital 16 42,000 42,000
Retained earnings 17 16,183,289 16,489,335
SHAREHOLDERS' FUNDS 16,225,289 16,531,335

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





P J Stephens - Director


John A Stephens Limited (Registered number: 00894901)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 42,000 16,364,205 16,406,205

Changes in equity
Dividends - (144,000 ) (144,000 )
Total comprehensive income - 269,130 269,130
Balance at 31 December 2022 42,000 16,489,335 16,531,335

Changes in equity
Dividends - (144,000 ) (144,000 )
Total comprehensive income - (162,046 ) (162,046 )
Balance at 31 December 2023 42,000 16,183,289 16,225,289

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

John A Stephens 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 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.

The financial statements are prepared in sterling which is the functional currency of the entity rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

as it is a wholly owned subsidiary of a company preparing publicly available consolidated accounts that incorporate these results.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Stock valuations and the recoverability of trade assets. These involve judgements as to the extent to which provisions are required to account for the risk of irrecoverability or obsolescence.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the company 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.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TURNOVER

The turnover and loss (2022 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 24,330,048 27,812,369
24,330,048 27,812,369

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,393,655 4,624,327
Social security costs 494,042 515,745
Other pension costs 320,536 271,594
5,208,233 5,411,666

The average number of employees during the year was as follows:
2023 2022

Management, shopfloor and warehouse 105 109

2023 2022
£    £   
Directors' remuneration 577,800 655,885
Directors' pension contributions to money purchase schemes 57,920 43,039

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 8 8

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 120,926 145,447
Pension contributions to money purchase schemes 21,451 7,965

5. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 336,811 330,122
Depreciation - owned assets 388,081 439,435
Loss/(profit) on disposal of fixed assets 17,983 (20,010 )
Computer software amortisation 2,928 -
Auditors' remuneration 44,200 40,513

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest on overdue taxation - 1,903

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax (2,957 ) (3,923 )

Deferred tax (88,977 ) (62,375 )
Tax on (loss)/profit (91,934 ) (66,298 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
(Loss)/profit before tax (253,980 ) 202,832
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

(63,495

)

38,538

Effects of:
Expenses not deductible for tax purposes 8,583 5,842
Capital allowances in excess of depreciation (14,186 ) (465,593 )
Adjustments to tax charge in respect of previous periods (2,957 ) -
Fair value adjustment (46,684 ) 13,095
Origination and reversal of timing differences 1,068 3,564
(Gain)/loss on sale of investment 25,737 (2,685 )
Deferred tax - 340,941
Total tax credit (91,934 ) (66,298 )

8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Final 144,000 144,000

9. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 January 2023 13,184 8,800 21,984
Additions - 5,840 5,840
At 31 December 2023 13,184 14,640 27,824
AMORTISATION
At 1 January 2023 13,184 - 13,184
Amortisation for year - 2,928 2,928
At 31 December 2023 13,184 2,928 16,112
NET BOOK VALUE
At 31 December 2023 - 11,712 11,712
At 31 December 2022 - 8,800 8,800

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 4,123,792 708,379 3,338,971 514,249 8,685,391
Additions 354,382 26,089 - 8,443 388,914
Disposals (885,285 ) - (912,685 ) - (1,797,970 )
At 31 December 2023 3,592,889 734,468 2,426,286 522,692 7,276,335
DEPRECIATION
At 1 January 2023 1,559,231 603,956 2,579,069 492,723 5,234,979
Charge for year 277,300 19,577 79,747 11,457 388,081
Eliminated on disposal (793,046 ) - (759,459 ) - (1,552,505 )
At 31 December 2023 1,043,485 623,533 1,899,357 504,180 4,070,555
NET BOOK VALUE
At 31 December 2023 2,549,404 110,935 526,929 18,512 3,205,780
At 31 December 2022 2,564,561 104,423 759,902 21,526 3,450,412

11. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 January 2023 1,622,824
Additions 587,428
Disposals (453,150 )
Exchange differences 186,735
At 31 December 2023 1,943,837
NET BOOK VALUE
At 31 December 2023 1,943,837
At 31 December 2022 1,622,824

Cost or valuation at 31 December 2023 is represented by:

Listed
investments
£   
Valuation in 2023 22,774
Cost 1,921,063
1,943,837

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,921,063 1,600,050

Fixed asset investments were valued on an open market basis basis on 31 December 2023 by qualified valuers .

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. STOCKS
2023 2022
£    £   
Finished goods 2,792,903 2,974,833

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,586,627 1,960,979
Amounts owed by group undertakings 3,610,933 3,540,754
Other debtors 258,510 148,118
Directors' loan accounts 29,699 55,379
Tax 3,041 3,041
Prepayments 694,414 816,569
6,183,224 6,524,840

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,130,250 1,558,129
Social security and other taxes 102,422 100,450
VAT 192,548 146,185
Other creditors 99,098 288,609
Directors' loan accounts 48 -
Accrued expenses 70,921 62,414
1,595,287 2,155,787

15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 129,028 218,005

Deferred
tax
£   
Balance at 1 January 2023 218,005
Credit to Statement of Comprehensive Income during year (88,977 )
Balance at 31 December 2023 129,028

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £1 2,000 2,000
40,000 Preference £1 40,000 40,000
42,000 42,000

17. RESERVES

Profit and loss account:

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

18. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 169,064

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D W Monks
Balance outstanding at start of year 7,567 290
Amounts advanced 2,754 18,849
Amounts repaid (10,135 ) (11,572 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 186 7,567

P Long
Balance outstanding at start of year - 1,962
Amounts advanced 466 (15 )
Amounts repaid (262 ) (1,947 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 204 -

P J Stephens
Balance outstanding at start of year 153 259
Amounts advanced 3,390 1,219
Amounts repaid (3,590 ) (1,325 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (47 ) 153

A P Stephens
Balance outstanding at start of year 19,586 33,837
Amounts advanced 5,787 6,121
Amounts repaid (25,373 ) (20,372 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,586

J M Daniel
Balance outstanding at start of year 22 299
Amounts advanced 1,667 714
Amounts repaid (1,689 ) (991 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 22

S P Long
Balance outstanding at start of year - -
Amounts advanced 13 18
Amounts repaid (13 ) (18 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

John A Stephens Limited (Registered number: 00894901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J A Taylor
Balance outstanding at start of year 25,087 15,916
Amounts advanced 11,887 14,599
Amounts repaid (7,666 ) (5,428 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,308 25,087

C J Turner
Balance outstanding at start of year 2,964 454
Amounts advanced 2,390 2,520
Amounts repaid (5,354 ) (10 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,964

20. RELATED PARTY DISCLOSURES

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £71,400 (2022 - £90,720).

During the year close relatives, excluding current directors, of PJ Stephens purchased goods from the company valued at £4,428 (2022 - £1,044) net of VAT. The aggregated balance of these creditors owed to these relatives at the year end amounted to £510 (2022 - £782 owed to the company), inclusive of VAT.

The company has taken advantage of the exemptions available from disclosing transactions and balances with wholly owned group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.

21. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of John A Stephens Holdings Limited which is registered in England and Wales.

John A Stephens Holdings Limited is the only company in the group that prepares consolidated financial statements that include the results of this company. Copies of the consolidated financial statements are available from Companies House. The registered office of John A Stephens Holdings Limited is that of John A Stephens Limited.

The company is controlled by Mr P J Stephens, who is a director and the majority shareholder of the parent company, John A Stephens Holdings Limited.