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COMPANY REGISTRATION NUMBER: 03995212
Stretton Service Station Limited
Filleted Unaudited Financial Statements
31 December 2024
Stretton Service Station Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
18,338
21,655
Current assets
Stocks
550,051
539,590
Debtors
6
60,845
78,103
Cash at bank and in hand
6,654
23,425
---------
---------
617,550
641,118
Creditors: amounts falling due within one year
7
328,337
280,041
---------
---------
Net current assets
289,213
361,077
---------
---------
Total assets less current liabilities
307,551
382,732
Creditors: amounts falling due after more than one year
8
4,379
47,551
Provisions
Taxation including deferred tax
4,585
5,739
---------
---------
Net assets
298,587
329,442
---------
---------
Capital and reserves
Called up share capital
150
150
Profit and loss account
298,437
329,292
---------
---------
Shareholders funds
298,587
329,442
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Stretton Service Station Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 5 March 2025 , and are signed on behalf of the board by:
R A Bartle
Director
Company registration number: 03995212
Stretton Service Station Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite K, Market Hall, Chesterfield, S40 1AR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is the total amount receivable by the company in the ordinary course of business to outside customers for goods supplied and for services provided, excluding Value Added Tax.
Income tax
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 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 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 the 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.
Tangible 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
13,312
60,739
11,252
85,303
Additions
3,039
3,039
Disposals
( 414)
( 414)
-------
-------
-------
-------
At 31 December 2024
13,312
60,739
13,877
87,928
-------
-------
-------
-------
Depreciation
At 1 January 2024
6,543
47,916
9,189
63,648
Charge for the year
1,695
3,281
1,249
6,225
Disposals
( 283)
( 283)
-------
-------
-------
-------
At 31 December 2024
8,238
51,197
10,155
69,590
-------
-------
-------
-------
Carrying amount
At 31 December 2024
5,074
9,542
3,722
18,338
-------
-------
-------
-------
At 31 December 2023
6,769
12,823
2,063
21,655
-------
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
54,562
75,869
Other debtors
6,283
2,234
-------
-------
60,845
78,103
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
228,278
123,540
Trade creditors
39,301
10,505
Corporation tax
27,477
22,238
Social security and other taxes
3,732
32,585
Other creditors
30,136
Other creditors
29,549
61,037
---------
---------
328,337
280,041
---------
---------
Included in creditors are outstanding hire purchase loans totalling £3,523 (2023 - £30,665) that are secured against Camper Vans purchased to hire out before they are sold.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,379
14,777
Other creditors
32,774
------
-------
4,379
47,551
------
-------
Included in creditors are outstanding hire purchase loans totalling £nil (2023 - £32,774) that are secured against Camper Vans purchased to hire out before they are sold.
9. Directors' advances, credits and guarantees
The company operates Directors Accounts for which all amounts are repayable on demand and no interest is charged. The amount owed by the company at the year end is £20,554 (2023 - £20,567).