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Company No: 10782173 (England and Wales)

STEPHENSON-MOHL GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

STEPHENSON-MOHL GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MAY 2024

Contents

STEPHENSON-MOHL GROUP LIMITED

BALANCE SHEET

AS AT 30 MAY 2024
STEPHENSON-MOHL GROUP LIMITED

BALANCE SHEET (continued)

AS AT 30 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 57,260 2,540
57,260 2,540
Current assets
Debtors 4 323,911 174,018
Cash at bank and in hand 21,865 1,687
345,776 175,705
Creditors: amounts falling due within one year 5 ( 188,060) ( 134,405)
Net current assets 157,716 41,300
Total assets less current liabilities 214,976 43,840
Creditors: amounts falling due after more than one year 6 ( 73,875) ( 43,333)
Provision for liabilities ( 12,884) 0
Net assets 128,217 507
Capital and reserves
Called-up share capital 1 1
Profit and loss account 128,216 506
Total shareholder's funds 128,217 507

For the financial year ending 30 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Stephenson-Mohl Group Limited (registered number: 10782173) were approved and authorised for issue by the Director on 10 March 2025. They were signed on its behalf by:

Mark Stephenson
Director
STEPHENSON-MOHL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MAY 2024
STEPHENSON-MOHL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stephenson-Mohl Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Amber Court William Armstrong Drive, Newcastle Business Park, Newcastle Upon Tyne, NE4 7YA, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Office equipment 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 5

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 31 May 2023 0 9,624 9,624
Additions 52,168 3,529 55,697
At 30 May 2024 52,168 13,153 65,321
Accumulated depreciation
At 31 May 2023 0 7,084 7,084
Charge for the financial year 0 977 977
At 30 May 2024 0 8,061 8,061
Net book value
At 30 May 2024 52,168 5,092 57,260
At 30 May 2023 0 2,540 2,540

4. Debtors

2024 2023
£ £
Trade debtors 174,127 46,352
Amounts owed by Group undertakings 42,733 47,877
Deferred tax asset 0 838
Other debtors 107,051 78,951
323,911 174,018

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 20,000 37,872
Trade creditors 7,644 13,590
Accruals 4,449 3,058
Taxation and social security 145,848 78,803
Obligations under finance leases and hire purchase contracts 8,581 0
Other creditors 1,538 1,082
188,060 134,405

The hire purchase is secured on the assets to which it relates.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 23,333 43,333
Obligations under finance leases and hire purchase contracts 50,542 0
73,875 43,333

The hire purchase is secured on the assets to which it relates.

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
M Stephenson - Director's loan account 75,302 70,569

During the year the company wrote off a loan balance of £12,378 with a company under common control. The company was dissolved post year end and this loan was not considered to be recoverable.