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REGISTERED NUMBER: 03306147 (England and Wales)














Financial Statements for the Year Ended 31 March 2024

for

Stovart Limited

Stovart Limited (Registered number: 03306147)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Stovart Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr I J Batten
Mr Martyn Batten





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 03306147 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Stovart Limited (Registered number: 03306147)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 217,559 211,067

CURRENT ASSETS
Inventories 8,000 8,000
Debtors 5 273,704 229,631
Cash at bank 145,734 168,263
427,438 405,894
CREDITORS
Amounts falling due within one year 6 110,377 125,043
NET CURRENT ASSETS 317,061 280,851
TOTAL ASSETS LESS CURRENT LIABILITIES 534,620 491,918

CAPITAL AND RESERVES
Called up share capital 56 56
Retained earnings 534,564 491,862
SHAREHOLDERS' FUNDS 534,620 491,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:




Mr I J Batten - Director


Stovart Limited (Registered number: 03306147)

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

1. STATUTORY INFORMATION

Stovart 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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

Stovart Limited (Registered number: 03306147)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 122,915 547,799 26,839 62,245 759,798
Additions - 25,332 - - 25,332
At 31 March 2024 122,915 573,131 26,839 62,245 785,130
DEPRECIATION
At 1 April 2023 - 484,540 20,114 44,077 548,731
Charge for year - 13,289 1,009 4,542 18,840
At 31 March 2024 - 497,829 21,123 48,619 567,571
NET BOOK VALUE
At 31 March 2024 122,915 75,302 5,716 13,626 217,559
At 31 March 2023 122,915 63,259 6,725 18,168 211,067

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 207,092 197,252
Other debtors 66,612 32,379
273,704 229,631

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 53,367 67,658
Taxation and social security 36,562 45,723
Other creditors 20,448 11,662
110,377 125,043

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end date the director's loan accounts was overdrawn by £63,831and cleared by 30/4/2024.

8. RELATED PARTY DISCLOSURES

The Directors Mr I J Batten is considered to be the key management personnel.