IRIS Accounts Production v24.3.0.553 01853944 Board of Directors 1.4.23 31.3.24 31.3.24 the operation of fuel service stations. true false true true false false false true false Ordinary 1.00000 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REGISTERED NUMBER: 01853944 (England and Wales)













Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024

for

Stevenson Of Oxbridge Limited

Stevenson Of Oxbridge Limited (Registered number: 01853944)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Stevenson Of Oxbridge Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J R Stevenson
I A Stevenson
J F A Heagney





SECRETARY: J R Stevenson





REGISTERED OFFICE: 87-91 Oxbridge Lane
Stockton On Tees
Cleveland
TS18 4AR





REGISTERED NUMBER: 01853944 (England and Wales)





AUDITORS: Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

Principal activity
The principal activity of the business continued to be the operation of fuel service stations.

REVIEW OF BUSINESS
Sales have decreased in the year with lower fuel costs being a contributing factor. The price variances have resulted in an increase in gross profit margin. The company has seen a rise in administrative costs and has achieved a slightly lower net profit for the year.

PRINCIPAL RISKS AND UNCERTAINTIES
The fuel price fluctuations have been emphasized by the cost of living crisis in the UK. Rising interest rates in response to high inflation give rise to increased borrowing costs and the high inflation may give rise to additional administrative costs.
The company takes measures to mitigate the risk of fuel prices, interest costs and other administrative expenditure increases where possible and ensure that sales prices are reflective of these increased costs.

DEVELOPMENT AND PERFORMANCE
Monthly management accounts for the months post year end show sustained turnover and gross profit margins. This is expected to continue for the year ended 31 March 2025.

KEY PERFORMANCE INDICATORS
The key performance indicators of the company are the turnover and gross profit margins per management accounts and year end audited accounts. Performance is also monitored closely on a day to day basis by management, reviewing measures such as turnover generated at each site, in order to maximise returns.

FUTURE DEVELOPMENTS
The outlook for the company continues to be positive, as the directors continue to use their vast knowledge and experience in the industry to maintain the company's position in the market. The directors continue to consider enhancements to sites together with branding opportunities and refurbishment.

ON BEHALF OF THE BOARD:





J R Stevenson - Director


23 October 2024

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Report of the Directors
for the Year Ended 31 March 2024

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

DIVIDENDS
Ordinary dividends were paid amounting to £120,000. The directors do not recommend payment of a final dividend.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J R Stevenson
I A Stevenson
J F A Heagney

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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). 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J R Stevenson - Director


23 October 2024

Report of the Independent Auditors to the Members of
Stevenson Of Oxbridge Limited

Opinion
We have audited the financial statements of Stevenson Of Oxbridge Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 company's affairs as at 31 March 2024 and of its 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 company 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 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 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 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 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
Stevenson Of Oxbridge Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 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 company or to cease operations, or have no realistic alternative but to do so.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Report of the Independent Auditors to the Members of
Stevenson Of Oxbridge Limited

Audit procedures performed by the engagement team included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims.
- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.
- Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and
accuracy of revenue and also to ensure revenue has been recognised in the correct period.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.




Helen Wilson FCA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

28 October 2024

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Statement of Comprehensive
Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 2 20,993,131 22,438,068

Cost of sales 17,987,014 19,445,392
GROSS PROFIT 3,006,117 2,992,676

Administrative expenses 2,215,431 2,068,301
OPERATING PROFIT 4 790,686 924,375

Interest receivable and similar income 955 -
791,641 924,375

Interest payable and similar expenses 5 68,386 48,655
PROFIT BEFORE TAXATION 723,255 875,720

Tax on profit 6 207,154 212,217
PROFIT FOR THE FINANCIAL YEAR 516,101 663,503

OTHER COMPREHENSIVE INCOME
Movement of deferred tax on revaluation - (25,779 )
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

(25,779

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

516,101

637,724

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 30,000 50,000
Tangible assets 9 3,537,103 3,300,661
3,567,103 3,350,661

CURRENT ASSETS
Stocks 10 387,238 421,424
Debtors 11 372,435 410,786
Cash at bank and in hand 2,254,701 1,982,383
3,014,374 2,814,593
CREDITORS
Amounts falling due within one year 12 1,925,010 1,785,837
NET CURRENT ASSETS 1,089,364 1,028,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,656,467

4,379,417

CREDITORS
Amounts falling due after more than one
year

13

(732,035

)

(917,138

)

PROVISIONS FOR LIABILITIES 18 (306,380 ) (226,730 )

ACCRUALS AND DEFERRED INCOME 19 (165,481 ) (179,079 )
NET ASSETS 3,452,571 3,056,470

CAPITAL AND RESERVES
Called up share capital 20 100 100
Revaluation reserve 21 546,066 546,066
Retained earnings 21 2,906,405 2,510,304
SHAREHOLDERS' FUNDS 3,452,571 3,056,470

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





J R Stevenson - Director


Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 100 1,966,801 571,845 2,538,746

Changes in equity
Dividends - (120,000 ) - (120,000 )
Total comprehensive income - 663,503 (25,779 ) 637,724
Balance at 31 March 2023 100 2,510,304 546,066 3,056,470

Changes in equity
Dividends - (120,000 ) - (120,000 )
Total comprehensive income - 516,101 - 516,101
Balance at 31 March 2024 100 2,906,405 546,066 3,452,571

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Cash Flow Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,245,628 1,112,988
Interest paid (68,386 ) (48,655 )
Tax paid (171,019 ) (130,777 )
Net cash from operating activities 1,006,223 933,556

Cash flows from investing activities
Purchase of tangible fixed assets (431,899 ) (325,506 )
Sale of tangible fixed assets 800 6,659
Interest received 955 -
Net cash from investing activities (430,144 ) (318,847 )

Cash flows from financing activities
Loan repayments in year (174,574 ) (173,236 )
Capital repayments in year (9,187 ) (9,187 )
Equity dividends paid (120,000 ) (120,000 )
Net cash from financing activities (303,761 ) (302,423 )

Increase in cash and cash equivalents 272,318 312,286
Cash and cash equivalents at beginning of
year

2

1,982,383

1,670,097

Cash and cash equivalents at end of year 2 2,254,701 1,982,383

Stevenson Of Oxbridge Limited (Registered number: 01853944)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

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

2024 2023
£    £   
Profit before taxation 723,255 875,720
Depreciation charges 215,457 168,755
Profit on disposal of fixed assets (800 ) (6,000 )
Finance costs 68,386 48,655
Finance income (955 ) -
1,005,343 1,087,130
Decrease in stocks 34,186 14,538
Decrease/(increase) in trade and other debtors 38,351 (139,254 )
Increase in trade and other creditors 167,748 150,574
Cash generated from operations 1,245,628 1,112,988

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 2,254,701 1,982,383
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,982,383 1,670,097


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 1,982,383 272,318 2,254,701
1,982,383 272,318 2,254,701
Debt
Finance leases (50,414 ) 9,187 (41,227 )
Debts falling due within 1 year (173,232 ) (1,342 ) (174,574 )
Debts falling due after 1 year (875,911 ) 175,916 (699,995 )
(1,099,557 ) 183,761 (915,796 )
Total 882,826 456,079 1,338,905

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
Stevenson Of Oxbridge Limited is a private limited company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are set out in the Strategic report on page 2.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" (FRS102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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- not provided
Refurbishments (included in property)- over 10 years on cost
Short leasehold- over the period of the lease
Plant and machinery- between 3 and 15 years on cost
Fixtures and fittings- between 2 and 10 years on cost
Motor vehicles- 5 years on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

1. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

2. TURNOVER

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

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 470,945 418,431
Social security costs 18,433 17,126
Other pension costs 5,467 5,061
494,845 440,618

The average number of employees during the year was as follows:
2024 2023

Retail staff 38 34

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

3. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 3,565 6,668
Depreciation - owned assets 195,457 148,755
Profit on disposal of fixed assets (800 ) (6,000 )
Goodwill amortisation 20,000 20,000
Auditors remuneration 12,325 12,325
Other operating leases 36,500 33,289

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 68,386 48,655

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 130,000 173,500
(Over)/ under provision of tax in prior year (2,496 ) (12 )
Total current tax 127,504 173,488

Deferred taxation 79,650 38,729
Tax on profit 207,154 212,217

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

6. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 723,255 875,720
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

180,814

166,387

Effects of:
Adjustments to tax charge in respect of previous periods (2,496 ) (12 )
Enhanced capital allowances - (7,145 )
Deferred tax adjustments in respect of change of rate - 28,635
Other adjustments 28,836 24,352
Total tax charge 207,154 212,217

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 March 2024.

2023
Gross Tax Net
£    £    £   
Movement of deferred tax on revaluation (25,779 ) - (25,779 )

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 120,000 120,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023 150,000
Amortisation for year 20,000
At 31 March 2024 170,000
NET BOOK VALUE
At 31 March 2024 30,000
At 31 March 2023 50,000

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

9. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2023 1,959,482 780,837 605,397
Additions 25,920 - 67,331
Disposals - - (5,098 )
At 31 March 2024 1,985,402 780,837 667,630
DEPRECIATION
At 1 April 2023 14,724 142,614 303,715
Charge for year 6,739 25,175 72,609
Eliminated on disposal - - (5,098 )
At 31 March 2024 21,463 167,789 371,226
NET BOOK VALUE
At 31 March 2024 1,963,939 613,048 296,404
At 31 March 2023 1,944,758 638,223 301,682

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 593,875 220,076 4,159,667
Additions 296,652 41,996 431,899
Disposals (17,500 ) - (22,598 )
At 31 March 2024 873,027 262,072 4,568,968
DEPRECIATION
At 1 April 2023 331,907 66,046 859,006
Charge for year 43,563 47,371 195,457
Eliminated on disposal (17,500 ) - (22,598 )
At 31 March 2024 357,970 113,417 1,031,865
NET BOOK VALUE
At 31 March 2024 515,057 148,655 3,537,103
At 31 March 2023 261,968 154,030 3,300,661

Included in tangible fixed assets are assets held under hire purchase with an aggregate net book value of £29,986 (2023 - £45,631). Depreciation charged on these assets during the year mounted to £15,645 (2023 - £15,645).

10. STOCKS
2024 2023
£    £   
Stocks 387,238 421,424

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 276,222 104,104
Other debtors 16,581 206,859
VAT 9,437 -
Prepayments and accrued income 70,195 99,823
372,435 410,786

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 174,574 173,232
Hire purchase contracts (see note 15) 9,187 9,187
Trade creditors 1,473,186 1,269,377
Taxation 129,274 172,789
Social security and other taxes 6,986 54,472
Other creditors 49,060 24,272
Accruals and deferred income 82,743 82,508
1,925,010 1,785,837

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 699,995 875,911
Hire purchase contracts (see note 15) 32,040 41,227
732,035 917,138

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 174,574 173,232

Amounts falling due between one and two years:
Bank loans 174,574 173,232

Amounts falling due between two and five years:
Bank loans 525,421 519,696

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 182,983

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

14. LOANS - continued

Bank loans are repayable over 10 years and are charged at an interest rate of 1.95% over the base rate.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,187 9,187
Between one and five years 32,040 41,227
41,227 50,414

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,500 36,500
Between one and five years 145,998 145,998
In more than five years 675,240 684,366
857,738 866,864

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 874,569 1,049,143
Hire purchase contracts 41,227 50,414
915,796 1,099,557

Bank loans are secured by a fixed and floating charge over the company assets. Hire purchase liabilities are secured on the assets to which it relates.

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

17. FINANCIAL INSTRUMENTS

The carrying amounts of the company's financial instruments are as follows:

2024 2023
£    £   
Financial liabilities
Measured at amortised cost
- Bank loans 874,569 1,049,143
- Hire purchase 41,227 50,414
915,796 1,099,557


The expenses attributable to the company's financial instruments are summarised as follows:

2024 2023
£    £   

Total interest expense for financial liabilities at amortised cost 68,386 48,655

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 199,000 119,350
Deferred taxation on revaluation reserve 107,380 107,380
306,380 226,730

Deferred
tax
£   
Balance at 1 April 2023 226,730
Charge to Statement of Comprehensive Income during year 79,650
Balance at 31 March 2024 306,380

19. ACCRUALS AND DEFERRED INCOME
2024 2023
£    £   
Deferred capital grants 165,481 179,079

Retailer capital grants 2024 2023
£ £

Balance at 1st April 179,079 -
Additional grants receivable 25,999 95,946
Grants reclassified in the year - 103,900
Amortisation of grants to profit and loss account (39,597 ) (20,767 )
Balance at 31st March 165,481 179,079

Stevenson Of Oxbridge Limited (Registered number: 01853944)

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

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

21. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 2,510,304 546,066 3,056,370
Profit for the year 516,101 516,101
Dividends (120,000 ) (120,000 )
At 31 March 2024 2,906,405 546,066 3,452,471

Retained earnings
Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

Revaluation reserve
The revaluation reserve represents the effect of the revaluation of freehold property, now held at deemed cost, net of deferred tax.

22. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss as they fall due. The charge for the year was £5,467 (2023 - £5,061). There were pension contributions totalling £600 outstanding at the year end (2023 - £327).

23. RELATED PARTY DISCLOSURES

Other related parties - common control
2024 2023
£    £   
Management charges payable 996,853 903,712
Bad debts written off - 51,152

Included within other debtors are amounts due from the above related parties totalling £Nil (2023 - £180,000). The balances are unsecured, interest-free and repayable on demand. In the year £Nil (2023 - £51,152) was written off from amounts due from related parties that were included in other debtors.

Included within trade creditors are amounts due from the above related parties totalling £74,256 (2023 - £80,540). The balances are unsecured, interest-free and repayable on demand.

Key management personnel is considered to be the directors. Details of remuneration can be found in note 3 to the financial statements.