Registered number
01562821
Stallion Plant Services Limited
Unaudited Filleted Accounts
31 May 2024
Stallion Plant Services Limited
Registered number: 01562821
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 134,461 89,876
Current assets
Stocks 208,130 145,408
Debtors 4 220,487 233,921
Cash at bank and in hand 271,006 387,685
699,623 767,014
Creditors: amounts falling due within one year 5 (147,230) (171,486)
Net current assets 552,393 595,528
Total assets less current liabilities 686,854 685,404
Provisions for liabilities (18,810) (17,076)
Net assets 668,044 668,328
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 667,044 667,328
Shareholders' funds 668,044 668,328
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Jones
Director
Approved by the board on 12 November 2024
Stallion Plant Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% Reducing Balance Basis
Fixtures and Fittings 12.5% Reducing Balance Basis
Computers 33.3% Straight Line Basis
Leasehold Improvements Length of the lease
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in "other operating income" within profit and loss in the same period as the related expenditure. The company has not benefited from any other forms of government assistance.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Motor Vehicles Total
£ £ £ £
Cost
At 1 June 2023 21,645 41,817 118,261 181,723
Additions - 44,595 34,995 79,590
At 31 May 2024 21,645 86,412 153,256 261,313
Depreciation
At 1 June 2023 21,644 18,272 51,931 91,847
Charge for the year - 9,675 25,330 35,005
At 31 May 2024 21,644 27,947 77,261 126,852
Net book value
At 31 May 2024 1 58,465 75,995 134,461
At 31 May 2023 1 23,545 66,330 89,876
4 Debtors 2024 2023
£ £
Trade debtors 179,774 196,711
Prepayments 8,851 8,086
Other debtors 31,862 29,124
220,487 233,921
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 32,497 34,509
Accruals 62,115 72,592
Corporation tax - 7,623
Other taxes and social security costs 32,617 36,761
Other creditors 20,001 20,001
147,230 171,486
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 340,625 9,275
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs L Hall
Loan Repayable by 30 August 2025 2,500 7,499 (2,500) 7,499
D Jones
Loan Repayable by 8 November 2024 9,999 - (9,999) -
12,499 7,499 (12,499) 7,499
8 Controlling party
The Director, R F Stallard is the ultimate controlling party by virtue of his majority shareholding in the company.
9 Other information
Stallion Plant Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Test House, Ditchling Common Industrial Estate
Ditchling Common
Hassocks
West Sussex
BN6 8SG
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