Registered number
01092786
Allenby Stevenson Limited
Filleted Accounts
31 May 2024
Allenby Stevenson Limited
Registered number: 01092786
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,872 16,310
Current assets
Stocks 159,772 165,502
Debtors 4 196,418 230,121
Cash at bank and in hand 40,916 378
397,106 396,001
Creditors: amounts falling due within one year 5 (154,328) (172,935)
Net current assets 242,778 223,066
Net assets 259,650 239,376
Capital and reserves
Called up share capital 950 950
Share premium 50 50
Profit and loss account 258,650 238,376
Shareholders' funds 259,650 239,376
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.
J Stevenson
Director
Approved by the board on 25 February 2025
Allenby Stevenson 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:
Property alterations 10% reducing balance
Furniture, fittings and equipment 15% and 20% reducing balance
Motor vehicles 25% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 14
3 Tangible fixed assets
Property alterations Furniture, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 13,393 141,699 39,154 194,246
Additions - 1,795 - 1,795
Disposals - - (5,650) (5,650)
At 31 May 2024 13,393 143,494 33,504 190,391
Depreciation
At 1 June 2023 12,673 126,341 38,922 177,936
Charge for the year 73 1,045 40 1,158
On disposals - - (5,575) (5,575)
At 31 May 2024 12,746 127,386 33,387 173,519
Net book value
At 31 May 2024 647 16,108 117 16,872
At 31 May 2023 720 15,358 232 16,310
4 Debtors 2024 2023
£ £
Trade debtors 196,418 230,121
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,046 46,712
Trade creditors 81,943 96,598
Taxation and social security costs 51,339 29,625
154,328 172,935
6 Controlling party
The company is wholly controlled by the directors.
7 Other information
Allenby Stevenson Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Abbey Road
Grimsby
North East Lincolnshire
DN32 0HQ
Its trading address is:
83-85 Victoria Street
Grimsby
North East Lincolnshire
DN31 1NH
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