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E. STOTT & SONS LIMITED

Financial Statements

for the Year Ended 31 July 2024






E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E. STOTT & SONS LIMITED

Company Information
for the year ended 31 July 2024







DIRECTORS: E Stott
C D Stott
M A Stott
D Stott
J Stott





SECRETARY: M A Stott





REGISTERED OFFICE: Colne Vale Garage
Savile Street
Milnsbridge
Huddersfield
West Yorkshire
HD3 4PG





REGISTERED NUMBER: 02197747 (England and Wales)





ACCOUNTANTS: Beldenn Limited
Chartered Accountants
First Floor
68 Uppermoor
Pudsey
West Yorkshire
LS28 7EX

E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,587,106 1,176,919

CURRENT ASSETS
Stocks 15,331 5,176
Debtors 5 450,525 340,680
Cash at bank and in hand 528,488 651,030
994,344 996,886
CREDITORS
Amounts falling due within one year 6 460,303 525,783
NET CURRENT ASSETS 534,041 471,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,121,147

1,648,022

CREDITORS
Amounts falling due after more than one
year

7

(25,660

)

(54,134

)

PROVISIONS FOR LIABILITIES 8 (396,253 ) (293,672 )
NET ASSETS 1,699,234 1,300,216

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,698,234 1,299,216
SHAREHOLDERS' FUNDS 1,699,234 1,300,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Balance Sheet - continued
31 July 2024


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 Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





C D Stott - Director


E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

E. Stott & Sons 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" 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Coaches - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 55 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery Coaches vehicles Totals
£    £    £    £   
COST
At 1 August 2023 164,339 1,729,574 39,338 1,933,251
Additions 4,966 711,600 - 716,566
Disposals - (240,000 ) - (240,000 )
At 31 July 2024 169,305 2,201,174 39,338 2,409,817
DEPRECIATION
At 1 August 2023 61,882 688,172 6,278 756,332
Charge for year 15,615 134,196 5,951 155,762
Eliminated on disposal - (89,383 ) - (89,383 )
At 31 July 2024 77,497 732,985 12,229 822,711
NET BOOK VALUE
At 31 July 2024 91,808 1,468,189 27,109 1,587,106
At 31 July 2023 102,457 1,041,402 33,060 1,176,919

The net book value of tangible fixed assets includes £ 504,497 (2023 - £ 394,702 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 292,992 249,574
Other debtors 157,533 91,106
450,525 340,680

E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,784 4,133
Hire purchase contracts 78,474 130,721
Trade creditors 123,090 87,495
Taxation and social security 133,077 170,371
Other creditors 120,878 133,063
460,303 525,783

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 25,660 54,134

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 396,253 293,672

Deferred
tax
£   
Balance at 1 August 2023 293,672
Charge to Income Statement during year 102,581
Balance at 31 July 2024 396,253

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
998 Ordinary A £1 900 998
1 Ordinary B £1 50 1
1 Ordinary C £1 50 1
1,000 1,000

10. RELATED PARTY DISCLOSURES

Ordinary dividends paid to directors in their capacity as shareholders during the year.
M A Stott £45000 (2023 £45000). C D Stott £45000 (2023 £45000).

E. STOTT & SONS LIMITED (REGISTERED NUMBER: 02197747)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

11. ULTIMATE CONTROLLING PARTY

During the year ended 31st July 2023, Mr C D Stott and Mrs J Stott and Mr M A Stott and Mrs D Stott controlled the company by virtue of holding 100% of the ordinary share capital.

During the year ended 31st July 2024 Mr C D Stott and Mrs J Stott and Mr M A Stott and Mrs D Stott controlled the company by virtue of holding 100% of the ordinary share capital.