Company registration number 03730470 (England and Wales)
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED (REGISTERED NUMBER: 03730470)
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
55,295
37,663
Current assets
Debtors
5
315,724
341,350
Cash at bank and in hand
107,547
79,652
423,271
421,002
Creditors: amounts falling due within one year
6
(66,646)
(55,272)
Net current assets
356,625
365,730
Total assets less current liabilities
411,920
403,393
Creditors: amounts falling due after more than one year
7
(77,761)
(63,995)
Provisions for liabilities
(3,613)
(5,914)
Net assets
330,546
333,484
Capital and reserves
Called up share capital
10,004
10,004
Profit and loss reserves
320,542
323,480
Total equity
330,546
333,484
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 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.
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED (REGISTERED NUMBER: 03730470)
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 January 2025 and are signed on its behalf by:
Mr P Clarke
Mr D Bone
Director
Director
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Sturdy Edwards (Financial Services) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 193 London Road, East Grinstead, West Sussex, RH19 1HA.
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” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair
value of net assets acquired. It is initially recognised as an asset at cost and is subsequently
measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill has now been fully amortised over its useful life.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
120,000
Amortisation and impairment
At 1 December 2023 and 30 November 2024
120,000
Carrying amount
At 30 November 2024
At 30 November 2023
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 December 2023
61,851
49,740
111,591
Additions
36,040
36,040
At 30 November 2024
61,851
85,780
147,631
Depreciation and impairment
At 1 December 2023
61,493
12,435
73,928
Depreciation charged in the year
72
18,336
18,408
At 30 November 2024
61,565
30,771
92,336
Carrying amount
At 30 November 2024
286
55,009
55,295
At 30 November 2023
358
37,305
37,663
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
559
Other debtors
315,165
341,350
315,724
341,350
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,556
5,556
Trade creditors
8,792
1,395
Taxation and social security
39,601
9,649
Other creditors
12,697
38,672
66,646
55,272
STURDY EDWARDS (FINANCIAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,000
30,556
Other creditors
52,761
33,439
77,761
63,995
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
58,333