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REGISTERED NUMBER: 02838257 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2024

for

Stangs Limited

Stangs Limited (Registered number: 02838257)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Statement of Financial Position 11

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Statement of Cash Flows 15

Notes to the Consolidated Statement of Cash Flows 16

Notes to the Consolidated Financial Statements 17


Stangs Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K Chapman
A W Chapman
J H Chapman
A K Chapman
J G Chapman
M J Lammas





SECRETARY: A W Chapman





REGISTERED OFFICE: Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS





REGISTERED NUMBER: 02838257 (England and Wales)





AUDITORS: Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Stangs Limited (Registered number: 02838257)

Group Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The group continues to provide sheet fed printing services to a large number of private and public companies. The group's activities are the production of a wide range of commercial print with a specialisation in packaging and greeting card production.We consider our key performance indicators to be turnover and profit.

The directors are pleased that the group achieved its level of turnover in such challenging times. The group maintained a reasonable gross margin percentage however profit margin was adversely impacted due to external factors, resulting in a decrease in profit before tax.

In the current year, group turnover is £13,573,018 (2023 £15,261,691) and profit before tax is £3,693 (2023 £689,159).

PRINCIPAL RISKS AND UNCERTAINTIES
The group manages credit risk by the use of a credit insurance policy. Each customer is assessed and an appropriate credit limit applied. Limits are reviewed on a regular basis by the directors to ensure that possible over trading with company's that may be a credit risk is minimised.

FUTURE DEVELOPMENT
Group strategy is to grow the business on the strength of maintaining and developing an existing customer base. Investments made in production equipment will provide the basis for further development.

Overheads are under continuous scrutiny and the aim is to operate as efficiently as possible.

ON BEHALF OF THE BOARD:





K Chapman - Director


23 September 2024

Stangs Limited (Registered number: 02838257)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 April 2023 to the date of this report unless otherwise stated.

Other changes in directors holding office are as follows:

E S Lammas (Deceased) - deceased 28.1.24

M J Lammas was appointed as a director after 31 March 2024 but prior to the date of this report.

The beneficial interests of the directors holding office at 31 March 2024 in the shares of the company, according to the register of directors' interests, were as follows:

31.3.24 1.4.23
Ordinary shares of £1 each
K Chapman 27,501 27,501
A W Chapman 4,999 4,999
J H Chapman 6,024 6,024
A K Chapman 6,024 6,024
J G Chapman 6,024 6,024

These directors did not hold any non-beneficial interests in the shares of the company.

On the 01.07.2024 M J Lammas was appointed as director.

DISCLOSURE IN THE STRATEGIC REPORT
Information relating to the review of the business, the principal risks and uncertainties facing the business, and the future development of the business are disclosed via the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Stangs Limited (Registered number: 02838257)

Report of the Directors
for the Year Ended 31 March 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Stirk Lambert & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K Chapman - Director


23 September 2024

Report of the Independent Auditors to the Members of
Stangs Limited

Opinion
We have audited the financial statements of Stangs Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Stangs Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Stangs Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud and
- considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims and
- reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Stangs Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen McGevor FCCA (Senior Statutory Auditor)
for and on behalf of Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

23 September 2024

Stangs Limited (Registered number: 02838257)

Consolidated
Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 4 13,573,018 15,261,691

Cost of sales (10,578,688 ) (11,309,737 )
GROSS PROFIT 2,994,330 3,951,954

Administrative expenses (3,156,840 ) (3,302,007 )
OPERATING (LOSS)/PROFIT 6 (162,510 ) 649,947

Interest receivable and similar income 166,203 39,210
PROFIT BEFORE TAXATION 3,693 689,157

Tax on profit 8 28,719 (173,154 )
PROFIT FOR THE FINANCIAL YEAR 32,412 516,003
Profit attributable to:
Owners of the parent 32,412 516,003

Stangs Limited (Registered number: 02838257)

Consolidated
Other Comprehensive Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

PROFIT FOR THE YEAR 32,412 516,003


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

32,412

516,003

Total comprehensive income attributable to:
Owners of the parent 32,412 516,003

Stangs Limited (Registered number: 02838257)

Consolidated Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 10 4,420,372 4,669,284
Investments 11 - -
4,420,372 4,669,284

CURRENT ASSETS
Stocks 12 1,421,385 2,021,846
Debtors 13 2,449,998 3,370,852
Cash at bank and in hand 5,171,017 3,790,916
9,042,400 9,183,614
CREDITORS
Amounts falling due within one year 14 (4,332,865 ) (4,714,683 )
NET CURRENT ASSETS 4,709,535 4,468,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,129,907

9,138,215

CREDITORS
Amounts falling due after more than one
year

15

(33,000

)

(45,000

)

PROVISIONS FOR LIABILITIES 17 (497,074 ) (525,794 )
NET ASSETS 8,599,833 8,567,421

CAPITAL AND RESERVES
Called up share capital 18 56,596 56,596
Share premium 19 393,904 393,904
Capital redemption reserve 19 250,000 250,000
Retained earnings 19 7,899,333 7,866,921
SHAREHOLDERS' FUNDS 8,599,833 8,567,421

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





K Chapman - Director


Stangs Limited (Registered number: 02838257)

Company Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 10 1,054,530 1,079,638
Investments 11 517,821 517,821
1,572,351 1,597,459

CURRENT ASSETS
Debtors 13 1,728,529 1,909,903
Cash at bank 2,238,895 1,966,463
3,967,424 3,876,366
CREDITORS
Amounts falling due within one year 14 (1,886,368 ) (1,933,212 )
NET CURRENT ASSETS 2,081,056 1,943,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,653,407

3,540,613

CAPITAL AND RESERVES
Called up share capital 18 56,596 56,596
Share premium 393,904 393,904
Retained earnings 3,202,907 3,090,113
SHAREHOLDERS' FUNDS 3,653,407 3,540,613

Company's profit for the financial year 112,794 246,212

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





K Chapman - Director


Stangs Limited (Registered number: 02838257)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2022 56,596 7,350,918 393,904 250,000 8,051,418

Changes in equity
Total comprehensive income - 516,003 - - 516,003
Balance at 31 March 2023 56,596 7,866,921 393,904 250,000 8,567,421

Changes in equity
Total comprehensive income - 32,412 - - 32,412
Balance at 31 March 2024 56,596 7,899,333 393,904 250,000 8,599,833

Stangs Limited (Registered number: 02838257)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 2022 56,596 2,843,901 393,904 3,294,401

Changes in equity
Total comprehensive income - 246,212 - 246,212
Balance at 31 March 2023 56,596 3,090,113 393,904 3,540,613

Changes in equity
Total comprehensive income - 112,794 - 112,794
Balance at 31 March 2024 56,596 3,202,907 393,904 3,653,407

Stangs Limited (Registered number: 02838257)

Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,669,760 1,052,044
Net cash from operating activities 1,669,760 1,052,044

Cash flows from investing activities
Purchase of tangible fixed assets (446,362 ) (1,628,559 )
Sale of tangible fixed assets 2,500 500
Interest received 166,203 39,215
Net cash from investing activities (277,659 ) (1,588,844 )

Cash flows from financing activities
Increase in HP contracts (12,000 ) 57,000
Net cash from financing activities (12,000 ) 57,000

Increase/(decrease) in cash and cash equivalents 1,380,101 (479,800 )
Cash and cash equivalents at beginning of
year

2

3,790,916

4,270,716

Cash and cash equivalents at end of year 2 5,171,017 3,790,916

Stangs Limited (Registered number: 02838257)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 3,693 689,157
Depreciation charges 695,272 610,775
Profit on disposal of fixed assets (2,499 ) (500 )
Finance income (166,203 ) (39,210 )
530,263 1,260,222
Decrease in stocks 600,461 48,850
Decrease in trade and other debtors 920,854 458,054
Decrease in trade and other creditors (381,818 ) (715,082 )
Cash generated from operations 1,669,760 1,052,044

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 5,171,017 3,790,916
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 3,790,916 4,270,716


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 3,790,916 1,380,101 5,171,017
3,790,916 1,380,101 5,171,017
Debt
Finance leases (57,000 ) 12,000 (45,000 )
(57,000 ) 12,000 (45,000 )
Total 3,733,916 1,392,101 5,126,017

Stangs Limited (Registered number: 02838257)

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

1. STATUTORY INFORMATION

Stangs 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 General Information page.

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements consolidate the financial statements of Stangs Limited and all its subsidiary undertakings drawn up to 31 March each year.

The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Profit and Loss Account in these financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.The estimates and assumption that have a risk of causing a material adjustment to the carrying amounts of assets and liabilities are dealt with via other accounting policies being:

Depreciation
Stock write down.
Deferred Taxation

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and
services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have
transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service
transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the
outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant & machinery - 33% on cost, 20% on cost and 10% on cost
Fixtures & fittings - 33% on cost, 20% on cost, 10% on cost and Straight line over 3 years
Computer equipment - 33% on cost, 20% on cost, 10% on reducing balance, Straight line over 3 years and Straight line over 1 year

Stangs Limited (Registered number: 02838257)

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

3. ACCOUNTING POLICIES - continued

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 obtained under hire purchase contracts or finance leases are capitalised and depreciated in the same manner as other assets. The related obligations, net of future finance charges, are included in creditors.

Rents payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
The company's investments in share capital of subsidiary companies is stated at original cost less any related impairment.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.3.24 31.3.23
£    £   
Sale of goods 13,573,018 15,261,691
13,573,018 15,261,691

Stangs Limited (Registered number: 02838257)

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

5. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 3,948,909 3,802,723
Social security costs 129,299 151,446
Other pension costs 99,163 97,494
4,177,371 4,051,663

The average number of employees during the year was as follows:
31.3.24 31.3.23

Administration 14 14
Production 99 97
Selling and distribution 9 9
122 120

31.3.24 31.3.23
£    £   
Directors' remuneration 590,391 588,949
Directors' pension contributions to money purchase schemes 20,628 20,628

Information regarding the highest paid director is as follows:
31.3.24 31.3.23
£    £   
Emoluments etc 80,000 80,000

6. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Hire of plant and machinery 70,400 72,596
Depreciation - owned assets 695,273 610,776
Profit on disposal of fixed assets (2,499 ) (500 )
Auditors' remuneration 29,540 24,365

7. EXCEPTIONAL ITEMS
31.3.24 31.3.23
£    £   
Exceptional items (8,084 ) -

The exceptional item relates to a fraudulent payment not covered under our insurance.

Stangs Limited (Registered number: 02838257)

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

8. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Deferred tax (28,719 ) 173,154
Tax on profit (28,719 ) 173,154

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit before tax 3,693 689,157
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

923

130,940

Effects of:
Expenses not deductible for tax purposes 1,332 5,751
Capital allowances in excess of depreciation (23,900 ) (314,471 )
Utilisation of tax losses 21,645 173,154
Deferred taxation (28,719 ) 177,780
Total tax (credit)/charge (28,719 ) 173,154

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


Stangs Limited (Registered number: 02838257)

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

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant &
property property machinery
£    £    £   
COST
At 1 April 2023 1,255,392 134,542 10,608,303
Additions - - 335,972
Disposals - - (154,776 )
At 31 March 2024 1,255,392 134,542 10,789,499
DEPRECIATION
At 1 April 2023 175,755 134,541 7,103,050
Charge for year 25,108 - 623,805
Eliminated on disposal - - (154,776 )
At 31 March 2024 200,863 134,541 7,572,079
NET BOOK VALUE
At 31 March 2024 1,054,529 1 3,217,420
At 31 March 2023 1,079,637 1 3,505,253

Fixtures Computer
& fittings equipment Totals
£    £    £   
COST
At 1 April 2023 305,234 474,550 12,778,021
Additions 48,212 62,178 446,362
Disposals (22,910 ) (101,413 ) (279,099 )
At 31 March 2024 330,536 435,315 12,945,284
DEPRECIATION
At 1 April 2023 246,148 449,243 8,108,737
Charge for year 25,504 20,856 695,273
Eliminated on disposal (22,910 ) (101,412 ) (279,098 )
At 31 March 2024 248,742 368,687 8,524,912
NET BOOK VALUE
At 31 March 2024 81,794 66,628 4,420,372
At 31 March 2023 59,086 25,307 4,669,284

Stangs Limited (Registered number: 02838257)

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

10. TANGIBLE FIXED ASSETS - continued

Company
Freehold Fixtures
property & fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,255,392 6,670 1,262,062
DEPRECIATION
At 1 April 2023 175,755 6,669 182,424
Charge for year 25,108 - 25,108
At 31 March 2024 200,863 6,669 207,532
NET BOOK VALUE
At 31 March 2024 1,054,529 1 1,054,530
At 31 March 2023 1,079,637 1 1,079,638

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 517,821
NET BOOK VALUE
At 31 March 2024 517,821
At 31 March 2023 517,821

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Herbert Walkers Limited
Registered office: England & Wales
Nature of business: Commercial Printers
%
Class of shares: holding
Ordinary 100.00
3% non-cumulative preference 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 5,868,075 5,790,901
Profit for the year 77,174 311,929

Stangs Limited (Registered number: 02838257)

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

11. FIXED ASSET INVESTMENTS - continued

Collisons Limited
Registered office: England & Wales
Nature of business: Commercial Printers
%
Class of shares: holding
Ordinary shares 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves (414,716 ) (257,161 )
Loss for the year (157,556 ) (52,019 )

Collisons Limited was acquired for £1. No provision considered necessary by the directors.



12. STOCKS

Group
31.3.24 31.3.23
£    £   
Stocks 728,670 994,696
Work-in-progress 307,144 699,694
Finished goods 385,571 327,456
1,421,385 2,021,846

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Trade debtors 2,162,208 2,876,567 65,089 173,089
Due from group undertakings - - 1,662,057 1,722,057
VAT 16,902 5,648 - -
Prepayments & accrued income 270,888 488,637 1,383 14,757
2,449,998 3,370,852 1,728,529 1,909,903

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Hire purchase contracts (see note 16) 12,000 12,000 - -
Trade creditors 1,618,976 1,943,296 3,144 2,820
Social security & other taxes 74,682 91,867 11,493 30,436
VAT 177,488 234,125 - -
Other creditors 819,654 769,047 621,749 621,749
Directors' current accounts 1,203,154 1,203,154 1,203,154 1,203,154
Accrued expenses 426,911 461,194 46,828 75,053
4,332,865 4,714,683 1,886,368 1,933,212

Stangs Limited (Registered number: 02838257)

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

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other creditors is a loan of £621,749 (2023 £621,749) provided by certain directors of the company. The loan is interest free.

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 16) 33,000 45,000

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 12,000 12,000
Between one and five years 33,000 45,000
45,000 57,000

Group
Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 65,213 65,213
Between one and five years 103,254 168,468
168,467 233,681

17. PROVISIONS FOR LIABILITIES

Group
31.3.24 31.3.23
£    £   
Deferred tax
Deferred tax 717,570 746,711
Losses (220,496 ) (220,917 )
497,074 525,794

Stangs Limited (Registered number: 02838257)

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

17. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2023 525,794
Provided during year (28,720 )
Balance at 31 March 2024 497,074

Deferred tax arises as a result of accelerated capital allowances.

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
56,596 Ordinary £1 56,596 56,596

19. RESERVES

Group
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 7,866,921 393,904 250,000 8,510,825
Profit for the year 32,412 32,412
At 31 March 2024 7,899,333 393,904 250,000 8,543,237

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 3,090,113 393,904 3,484,017
Profit for the year 112,794 112,794
At 31 March 2024 3,202,907 393,904 3,596,811

All reserves are attributable to the owners of the parent company.

20. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the fund and amounted to £165,489 (2023 £151,063).
There were no outstanding or prepaid contributions at either the beginning or end of the financial year.

Stangs Limited (Registered number: 02838257)

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

21. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - 51,950

22. CONTROL RELATIONSHIPS

K. Chapman, director and shareholder, is considered to be the controlling party.