Company registration number 05785761 (England and Wales)
STEPHEN MAUDE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
STEPHEN MAUDE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
STEPHEN MAUDE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
320,004
242,147
Current assets
Stocks
2,992
3,007
Debtors
4
31,222
53,484
Cash at bank and in hand
260,467
172,796
294,681
229,287
Creditors: amounts falling due within one year
5
(183,564)
(51,788)
Net current assets
111,117
177,499
Total assets less current liabilities
431,121
419,646
Provisions for liabilities
(67,201)
(46,008)
Net assets
363,920
373,638
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
363,720
373,438
Total equity
363,920
373,638
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mrs D Maude
Director
Company registration number 05785761 (England and Wales)
STEPHEN MAUDE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Stephen Maude Limited is a private company limited by shares incorporated in England and Wales. The registered office is Derwell House, Harmire Road, Barnard Castle, Co Durham, DL12 8QJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
The financial statements have been prepared under the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplies 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 dispatch 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.
1.3
Tangible fixed assets
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.
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:
Plant and machinery
15% reducing balance
Office equipment
15% reducing balance
Motor vehicles
15% reducing balance
1.4
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.5
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
STEPHEN MAUDE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
1.7
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1.8
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
1.9
Retirement benefits
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
9
STEPHEN MAUDE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
27,445
757
651,035
679,237
Additions
119,000
119,000
Disposals
(45,000)
(45,000)
At 30 April 2024
27,445
757
725,035
753,237
Depreciation and impairment
At 1 May 2023
22,553
243
414,294
437,090
Depreciation charged in the year
734
77
25,332
26,143
Eliminated in respect of disposals
(30,000)
(30,000)
At 30 April 2024
23,287
320
409,626
433,233
Carrying amount
At 30 April 2024
4,158
437
315,409
320,004
At 30 April 2023
4,892
514
236,741
242,147
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,646
47,984
Other debtors
1,698
Prepayments and accrued income
2,576
3,802
31,222
53,484
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
40,845
36,214
Corporation tax
11,345
6,556
Other taxation and social security
16,476
2,247
Other creditors
111,178
3,036
Accruals and deferred income
3,720
3,735
183,564
51,788
STEPHEN MAUDE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
200
200
200
200