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Registration number: 04512220

Stocks Group Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Stocks Group Limited

(Registration number: 04512220)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,208,643

1,140,523

Investments

5

202

202

 

1,208,845

1,140,725

Current assets

 

Debtors

6

1,476,244

1,127,478

Cash at bank and in hand

 

1,376,960

1,089,843

 

2,853,204

2,217,321

Creditors: Amounts falling due within one year

7

(539,520)

(398,200)

Net current assets

 

2,313,684

1,819,121

Total assets less current liabilities

 

3,522,529

2,959,846

Creditors: Amounts falling due after more than one year

7

(15,719)

(37,570)

Provisions for liabilities

(133,331)

(84,305)

Net assets

 

3,373,479

2,837,971

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

3,373,379

2,837,871

Shareholders' funds

 

3,373,479

2,837,971

 

Stocks Group Limited

(Registration number: 04512220)
Balance Sheet as at 31 March 2024

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 


Mr D Stocks
Director

   
 

Stocks Group Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stocks Group House
East Common Lane
Scunthorpe
North Lincolnshire
DN16 1DE

Registered number: 04512220

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Stocks Group Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% on cost per annum

Plant and equipment

10% on written down value per annum

Motor vehicles

25% on written down value per annum

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

Stocks Group Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year was 6 (2023 - 7).

 

Stocks Group Limited

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

4

Tangible assets

Freehold land and buildings
£

Plant and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,074,301

119,974

441,121

1,635,396

Additions

-

56,817

114,605

171,422

At 31 March 2024

1,074,301

176,791

555,726

1,806,818

Depreciation

At 1 April 2023

240,094

68,141

186,638

494,873

Charge for the year

21,486

7,310

74,506

103,302

At 31 March 2024

261,580

75,451

261,144

598,175

Carrying amount

At 31 March 2024

812,721

101,340

294,582

1,208,643

At 31 March 2023

834,207

51,833

254,483

1,140,523

5

Investments

2024
£

2023
£

Investments in subsidiaries

202

202

Subsidiaries

£

Cost or valuation

At 1 April 2023

202

At 31 March 2024

202

Carrying amount

At 31 March 2024

202

At 31 March 2023

202

 

Stocks Group Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

2,292

-

Amounts owed by group undertakings

1,472,630

1,124,986

Other debtors

1,322

2,492

1,476,244

1,127,478

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

21,841

37,430

Trade payables

 

1,772

2,886

Amounts due to related parties

371,977

330,223

Social security and other taxes

 

97,202

15,716

Other payables

 

46,728

11,945

 

539,520

398,200

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,719

37,570

 

Stocks Group Limited

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

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

21,841

37,430

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

15,719

37,570

The hire purchase contract is secured upon the asset to which it relates.

The bank loan is secured by an unlimited guarantee granted by the group companies.

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100