STEWART AND GIBSON LTD

Company Registration Number:
R0000693 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

STEWART AND GIBSON LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

STEWART AND GIBSON LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 367,953 382,764
Investments:   0 0
Total fixed assets: 367,953 382,764
Current assets
Stocks: 464,704 513,444
Debtors: 4 16,864 0
Cash at bank and in hand: 189,286 144,409
Investments:   0 0
Total current assets: 670,854 657,853
Creditors: amounts falling due within one year: 5 (295,512) (322,196)
Net current assets (liabilities): 375,342 335,657
Total assets less current liabilities: 743,295 718,421
Creditors: amounts falling due after more than one year: 6 (15,805) (25,685)
Provision for liabilities: 0 0
Total net assets (liabilities): 727,490 692,736
Capital and reserves
Called up share capital: 16,000 16,000
Share premium account: 2,991 2,991
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 708,499 673,745
Shareholders funds: 727,490 692,736

The notes form part of these financial statements

STEWART AND GIBSON LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 October 2024
and signed on behalf of the board by:

Name: Mr TDC Barr
Status: Director

The notes form part of these financial statements

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Property - 2% straight line Fixtures & fittings - 10% straight line Motor vehicles - 25% reducing balance Equipment - 25% straight line

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 13 13

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible Assets

Total
Cost £
At 01 February 2023 648,409
Additions 9,306
At 31 January 2024 657,715
Depreciation
At 01 February 2023 265,645
Charge for year 24,117
At 31 January 2024 289,762
Net book value
At 31 January 2024 367,953
At 31 January 2023 382,764

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 16,864 0

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

Creditors 2024 2023 Bank loans and overdrafts 51335 62552 Trade creditors 96170 67187 Corporations tax 20590 7831 Social security and other taxes 47727 100602 Other creditors 79690 84024 295512 322196

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due after more than one year note

2024 2023 Bank loans and overdrafts 15,805 25,685

STEWART AND GIBSON LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

7. Loans to directors

Name of director receiving advance or credit: Mr T D C Barr
Description of the loan: Director's loan
£
Balance at 01 February 2023 37,457
Advances or credits repaid: 2,804
Balance at 31 January 2024 34,653
Name of director receiving advance or credit: Mr T D C Barr
Description of the loan: Director's loan
£
Balance at 01 February 2023 41,746
Advances or credits repaid: 1,829
Balance at 31 January 2024 39,917