Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03536012 Mr Michael Stenhouse Mr Gary Stenhouse Mrs Gillian Stenhouse iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03536012 2023-03-31 03536012 2024-03-31 03536012 2023-04-01 2024-03-31 03536012 frs-core:CurrentFinancialInstruments 2024-03-31 03536012 frs-core:Non-currentFinancialInstruments 2024-03-31 03536012 frs-core:ComputerEquipment 2024-03-31 03536012 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03536012 frs-core:ComputerEquipment 2023-03-31 03536012 frs-core:MotorVehicles 2024-03-31 03536012 frs-core:MotorVehicles 2023-04-01 2024-03-31 03536012 frs-core:MotorVehicles 2023-03-31 03536012 frs-core:PlantMachinery 2024-03-31 03536012 frs-core:PlantMachinery 2023-04-01 2024-03-31 03536012 frs-core:PlantMachinery 2023-03-31 03536012 frs-core:CapitalRedemptionReserve 2024-03-31 03536012 frs-core:SharePremium 2024-03-31 03536012 frs-core:ShareCapital 2024-03-31 03536012 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03536012 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03536012 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03536012 frs-bus:SmallEntities 2023-04-01 2024-03-31 03536012 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03536012 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03536012 frs-core:DeferredTaxation 2023-04-01 2024-03-31 03536012 frs-core:DeferredTaxation 2023-03-31 03536012 frs-core:DeferredTaxation 2024-03-31 03536012 frs-core:ProvisionsDeferredTax 2024-03-31 03536012 frs-bus:Director1 2023-04-01 2024-03-31 03536012 frs-bus:Director2 2023-04-01 2024-03-31 03536012 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03536012 frs-countries:EnglandWales 2023-04-01 2024-03-31 03536012 2022-03-31 03536012 2023-03-31 03536012 2022-04-01 2023-03-31 03536012 frs-core:CurrentFinancialInstruments 2023-03-31 03536012 frs-core:Non-currentFinancialInstruments 2023-03-31 03536012 frs-core:CapitalRedemptionReserve 2023-03-31 03536012 frs-core:SharePremium 2023-03-31 03536012 frs-core:ShareCapital 2023-03-31 03536012 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 03536012 frs-core:ProvisionsDeferredTax 2023-03-31 03536012 frs-core:Non-currentFinancialInstruments 1 2023-03-31
Registered number: 03536012
Stenhouse Flooring Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03536012
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 47,257 68,722
47,257 68,722
CURRENT ASSETS
Stocks 4 73,000 47,406
Debtors 5 186,935 93,685
Cash at bank and in hand 130,948 264,040
390,883 405,131
Creditors: Amounts Falling Due Within One Year 6 (123,474 ) (83,092 )
NET CURRENT ASSETS (LIABILITIES) 267,409 322,039
TOTAL ASSETS LESS CURRENT LIABILITIES 314,666 390,761
Creditors: Amounts Falling Due After More Than One Year 7 - (8,338 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (5,124 ) (4,366 )
NET ASSETS 309,542 378,057
CAPITAL AND RESERVES
Called up share capital 10 80 80
Share premium account 22,980 22,980
Capital redemption reserve 20 20
Profit and Loss Account 286,462 354,977
SHAREHOLDERS' FUNDS 309,542 378,057
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Stenhouse
Director
18/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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1.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 11 (2023: 7)
11 7
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 83,003 326,612 - 409,615
Additions 593 - 1,265 1,858
Disposals - (186,546 ) - (186,546 )
As at 31 March 2024 83,596 140,066 1,265 224,927
Depreciation
As at 1 April 2023 70,705 270,188 - 340,893
Provided during the period 1,894 11,670 20 13,584
Disposals - (176,807 ) - (176,807 )
As at 31 March 2024 72,599 105,051 20 177,670
Net Book Value
As at 31 March 2024 10,997 35,015 1,245 47,257
As at 1 April 2023 12,298 56,424 - 68,722
4. Stocks
2024 2023
£ £
Stock 45,000 47,406
Work in progress 28,000 -
73,000 47,406
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 168,661 93,685
Prepayments and accrued income 5,526 -
VAT 12,748 -
186,935 93,685
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 51,372 36,534
Corporation tax 4,867 31,048
Other taxes and social security 8,249 -
VAT - 14,250
Other creditors 10,009 1,260
Accruals and deferred income 4,235 -
Directors' loan accounts 44,742 -
123,474 83,092
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors (1) - 995
Accruals and deferred income - 2,100
Directors loan account - 5,243
- 8,338
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Deferred Tax 5,124 4,366
9. Provisions for Liabilities
Deferred Tax
£
As at 1 April 2023 4,366
Increase/(Decrease) in the year 758
Balance at 31 March 2024 5,124
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
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11. Directors Advances, Credits and Guarantees
Included within the Creditors are interest free loan's, repayable on demand, provided to the company by:
Mr M Stenhouse who is a director of the company. As at 31st March 2024, Mr M Stenhouse was owed by the company £11,500 (2023: £2,000 was owed by the company to Mr M Stenhouse).
Mr G Stenhouse who is a director of the company. As at 31st March 2024, Mr G Stenhouse was owed by the company £33,242 (2023: £3,243 was owed by the company to Mr G Stenhouse).
The above loan's are unsecured, interest free and repayable on demand.
12. General Information
Stenhouse Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03536012 . The registered office is 56a South Nelson Industrial, Estate,, Cramlington, Northumberland, NE23 1WF.
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