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REGISTERED NUMBER: 00167923 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Stratfords Limited

Stratfords Limited (Registered number: 00167923)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


Stratfords Limited (Registered number: 00167923)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £ £
Fixed assets
Tangible assets 5 598,666 572,478

Current assets
Stocks 296,665 261,610
Debtors 6 207,429 205,835
Cash at bank and in hand 110,409 331,628
614,503 799,073
Creditors
Amounts falling due within one year 7 (207,421 ) (218,442 )
Net current assets 407,082 580,631
Total assets less current liabilities 1,005,748 1,153,109

Creditors
Amounts falling due after more than one
year

8

(128,481

)

(100,000

)

Provisions for liabilities - (15,811 )
Net assets 877,267 1,037,298

Capital and reserves
Called up share capital 31,025 31,025
Share premium 83,976 83,976
Retained earnings 762,266 922,297
877,267 1,037,298

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





Mr P A J Croker - Director


Stratfords Limited (Registered number: 00167923)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

Stratfords Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00167923

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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 prepared in sterling, which is the functional currency of the entity. Figures are rounded to the nearest whole pound sterling.

Critical accounting 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.

(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of tangible assets and note 3 for the useful economic lives for each class of assets.

(ii) Taxation
The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

Stratfords Limited (Registered number: 00167923)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Turnover
The turnover shown in the profit and loss account represents amounts invoiced and accrued during the year, generated through the company's principal activities in the United Kingdom. Where appropriate amounts are shown excluding value added tax.

Turnover from shop sales is recognised at the point at which the goods are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 15% p.a. reducing balance
Fixtures and fittings - 15% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

Debt instruments are subsequently measured at amortised cost.

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.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


Stratfords Limited (Registered number: 00167923)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employees and directors

The average number of employees during the year was 18 (2023 - 17 ) .

Stratfords Limited (Registered number: 00167923)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 February 2023 555,928 87,414 52,225 129,225 824,792
Additions 6,000 29,250 1,592 27,300 64,142
Disposals - - - (39,061 ) (39,061 )
At 31 January 2024 561,928 116,664 53,817 117,464 849,873
Depreciation
At 1 February 2023 87,810 57,837 31,093 75,574 252,314
Charge for year 4,039 6,813 3,314 15,980 30,146
Eliminated on disposal - - - (31,253 ) (31,253 )
At 31 January 2024 91,849 64,650 34,407 60,301 251,207
Net book value
At 31 January 2024 470,079 52,014 19,410 57,163 598,666
At 31 January 2023 468,118 29,577 21,132 53,651 572,478

Included within tangible fixed assets are investment properties included at their fair value of £360,000. This valuation was ascertained by the directors of the entity as at 31 January 2020. The directors believe this value to be appropriate as at 31 January 2024.

The freehold properties were revalued by Geoffrey Collings & Co at £35,000 on the 22nd October 1998. The valuation was on an existing use basis for all properties.

6. Debtors: amounts falling due within one year
31.1.24 31.1.23
£ £
Trade debtors 163,229 193,799
Other debtors 44,200 12,036
207,429 205,835

7. Creditors: amounts falling due within one year
31.1.24 31.1.23
£ £
Hire purchase contracts 10,185 -
Trade creditors 149,883 156,979
Taxation and social security 18,909 35,783
Other creditors 28,444 25,680
207,421 218,442

Stratfords Limited (Registered number: 00167923)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


7. Creditors: amounts falling due within one year - continued

Included within creditors are hire purchase balances of £10,185 (2023 - Nil), which are secured over the assets to which they relate.

8. Creditors: amounts falling due after more than one year
31.1.24 31.1.23
£ £
Hire purchase contracts 28,481 -
Other creditors 100,000 100,000
128,481 100,000

Included within creditors: amounts falling due after more than one year is an amount of £100,000 (2023 - £100,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Included within creditors are hire purchase balances of £28,481 (2023 - Nil), which are secured over the assets to which they relate.

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Mr Christopher Goad BFP FCA (Senior Statutory Auditor)
for and on behalf of Stephenson Smart (East Anglia) Limited

10. Other financial commitments

Operating lease commitments not included in the balance sheet amount to £8,795 (2023 - £12,854).

Barclays Bank plc hold a Debenture including Fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures fixed plant and machinery dated 18 July 1994.

11. Related party disclosures

The company has taken advantage of the exemption within FRS 102 from disclosing transactions with members of the same group that are wholly owned.

No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

12. Ultimate controlling party

The ultimate controlling party is the Audrey Muriel Stratford Charitable Trust, a registered charity in England and Wales.

Copies of the consolidated financial statements of the Audrey Muriel Stratford Charitable Trust may be obtained from 22-26 King Street, King's Lynn, Norfolk, PE30 1HJ.