Registered number: 10301112 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants & Tax Advisers | ||||||||
Elland House | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
C.A.R. & J.M.Stubbs Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Lincolnshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 10301112 | ||||||||
BANKERS | ||||||||
Barclays Bank PLC | ||||||||
ACCOUNTANTS | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants & Tax Advisers | ||||||||
Elland House | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
C.A.R. & J.M.Stubbs Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
C.A.R. & J.M.Stubbs Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
143,454 | 190,904 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (210,812) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 623,350 | 633,606 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 20,424 | 58,429 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
C.A.R. & J.M.Stubbs Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
Although the company had net current liabilities as at 31 March 2022 the accounts have been prepared on the going concern basis. Included in creditors falling due within one year is a loan from the directors of £375,457 (2021: £375,515). The directors will not request repayment of this loan until the company is in a position to repay the loan without affecting trading. |
1c. Depreciation | ||||||||
Plant And Machinery | reducing balance15% | |||||||
Commercial Vehicles | reducing balance25% | |||||||
Motor Cars | reducing balance25% |
1d. Stocks | ||||||||
Stocks represent the annual farm valuation which has been valued by the directors at the lower of cost and net realisable value. |
1e. Government Grants | ||||||||
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
C.A.R. & J.M.Stubbs Ltd | ||||||||
1f. Leasing Commitments | ||||||||
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis. |
1g. Basic Payment Scheme | ||||||||
The Basic Payment Scheme is recognised in the financial statements in accordance with current HM Revenue & Customs guidance. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
3. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | Commercial | ||||||||
Buildings | Machinery | Vehicles | Motor Cars | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Cost | ||||||||||
At 01/04/2023 | 2,865,000 | 34,435 | 79,500 | 6,400 | 2,985,335 | |||||
Disposals | - | (309) | - | - | (309) | |||||
At 31/03/2024 | 2,865,000 | 34,126 | 79,500 | 6,400 | 2,985,026 | |||||
Depreciation | ||||||||||
At 01/04/2023 | - | 14,995 | 56,817 | 5,261 | 77,073 | |||||
Disposals | - | (189) | - | - | (189) | |||||
For the year | - | 2,898 | 5,670 | 285 | 8,853 | |||||
At 31/03/2024 | - | 17,704 | 62,487 | 5,546 | 85,737 | |||||
Net Book Amounts | ||||||||||
At 31/03/2024 | 2,899,289 | |||||||||
At 31/03/2023 | 2,908,262 | |||||||||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
C.A.R. & J.M.Stubbs Ltd | ||||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 14,525 | 465 | ||||||
VAT | 3,167 | 5,036 | ||||||
Other debtors | 28,500 | 28,500 | ||||||
Prepayments | 3,746 | 145 | ||||||
49,938 | 34,146 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | - | 200 | ||||||
PAYE control | 79 | 86 | ||||||
Directors current account | 371,211 | 369,673 | ||||||
Bank Loan | 10,240 | 4,937 | ||||||
Trade creditors | 8,320 | 21,875 | ||||||
Accruals | 8,992 | 4,945 | ||||||
398,842 | 401,716 | |||||||
The bank loan of £10,240 (2023: £4,937) has been provided to the company under the Bounce Back Loan scheme. | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) - 1-2 years | 658 | 10,239 | ||||||
Bank loans (secured) >1yr | 402,692 | 402,692 | ||||||
Bank loans (unsecured) - 2-5 years | - | 675 | ||||||
Loans >1yr | 220,000 | 220,000 | ||||||
623,350 | 633,606 | |||||||
The unsecured bank loan of £10,914 (2022: £15,933) has been provided to the company under the Bounce Back Loan scheme. | ||||||||
C.A.R. & J.M.Stubbs Ltd | ||||||||
8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 27 | 5,315 | ||||||
27 | 5,315 | |||||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
2,000,000 | 2,000,000 | |||||||
2,000,100 | 2,000,100 | |||||||