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REGISTERED NUMBER: 07526020 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STOCKMANS (SOUTH WEST) LIMITED

STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


STOCKMANS (SOUTH WEST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: E G Campbell





REGISTERED OFFICE: 8A Bartholomew Terrace
Exeter
Devon
EX4 3BW





REGISTERED NUMBER: 07526020 (England and Wales)






STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,986 40,053

CURRENT ASSETS
Stocks 6,500 6,000
Debtors 5 428,683 370,254
Cash at bank and in hand 12,613 7,769
447,796 384,023
CREDITORS
Amounts falling due within one year 6 274,520 211,343
NET CURRENT ASSETS 173,276 172,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,262

212,733

CREDITORS
Amounts falling due after more than one
year

7

(27,861

)

(48,626

)

PROVISIONS FOR LIABILITIES (6,305 ) (7,610 )
NET ASSETS 167,096 156,497

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 166,996 156,397
SHAREHOLDERS' FUNDS 167,096 156,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 26 September 2024 and were signed by:





E G Campbell - Director


STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Stockmans (South West) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

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 equipment - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 21 ) .

STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 26,873 920 53,301 81,094
Additions 1,148 - - 1,148
At 31 December 2023 28,021 920 53,301 82,242
DEPRECIATION
At 1 January 2023 21,384 486 19,171 41,041
Charge for year 1,701 138 11,376 13,215
At 31 December 2023 23,085 624 30,547 54,256
NET BOOK VALUE
At 31 December 2023 4,936 296 22,754 27,986
At 31 December 2022 5,489 434 34,130 40,053

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 10,040 5,615
Other debtors 418,643 364,639
428,683 370,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 38,094 13,130
Hire purchase contracts (see note 8) 10,656 10,656
Trade creditors 38,489 44,961
Taxation and social security 166,340 124,855
Other creditors 20,941 17,741
274,520 211,343

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 16,432 26,541
Hire purchase contracts (see note 8) 11,429 22,085
27,861 48,626

STOCKMANS (SOUTH WEST) LIMITED (REGISTERED NUMBER: 07526020)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 10,656 10,656
Between one and five years 11,429 22,085
22,085 32,741

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 60,000 60,000
Between one and five years 60,000 120,000
120,000 180,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary 1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.12.23 31.12.22
£    £   
E G Campbell
Balance outstanding at start of year 8,906 25,075
Amounts advanced 24,595 13,831
Amounts repaid (27,500 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,001 8,906

The loan is subject to interest at the approved rate, unsecured and repayable on demand.