11 12 Stewart Energy (Insulation) Limited 01494733 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the manufacture of machinery. Digita Accounts Production Advanced 6.30.9574.0 true 01494733 2023-10-01 2024-09-30 01494733 2024-09-30 01494733 bus:CompanySecretaryDirector1 1 2024-09-30 01494733 bus:Director2 1 2024-09-30 01494733 bus:Director3 1 2024-09-30 01494733 bus:OrdinaryShareClass1 2024-09-30 01494733 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 01494733 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 01494733 core:CurrentFinancialInstruments 2024-09-30 01494733 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 01494733 core:Non-currentFinancialInstruments 2024-09-30 01494733 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 01494733 core:FurnitureFittingsToolsEquipment 2024-09-30 01494733 core:LandBuildings 2024-09-30 01494733 core:MotorVehicles 2024-09-30 01494733 bus:SmallEntities 2023-10-01 2024-09-30 01494733 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01494733 bus:FilletedAccounts 2023-10-01 2024-09-30 01494733 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 01494733 bus:RegisteredOffice 2023-10-01 2024-09-30 01494733 bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 01494733 bus:CompanySecretaryDirector1 1 2023-10-01 2024-09-30 01494733 bus:Director2 2023-10-01 2024-09-30 01494733 bus:Director2 1 2023-10-01 2024-09-30 01494733 bus:Director3 2023-10-01 2024-09-30 01494733 bus:Director3 1 2023-10-01 2024-09-30 01494733 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 01494733 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01494733 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 01494733 core:LandBuildings 2023-10-01 2024-09-30 01494733 core:MotorCars 2023-10-01 2024-09-30 01494733 core:MotorVehicles 2023-10-01 2024-09-30 01494733 core:OfficeEquipment 2023-10-01 2024-09-30 01494733 core:PlantMachinery 2023-10-01 2024-09-30 01494733 countries:EnglandWales 2023-10-01 2024-09-30 01494733 2023-09-30 01494733 bus:CompanySecretaryDirector1 1 2023-09-30 01494733 bus:Director2 1 2023-09-30 01494733 bus:Director3 1 2023-09-30 01494733 core:FurnitureFittingsToolsEquipment 2023-09-30 01494733 core:LandBuildings 2023-09-30 01494733 core:MotorVehicles 2023-09-30 01494733 2022-10-01 2023-09-30 01494733 2023-09-30 01494733 bus:CompanySecretaryDirector1 1 2023-09-30 01494733 bus:Director2 1 2023-09-30 01494733 bus:Director3 1 2023-09-30 01494733 bus:OrdinaryShareClass1 2023-09-30 01494733 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 01494733 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 01494733 core:CurrentFinancialInstruments 2023-09-30 01494733 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 01494733 core:Non-currentFinancialInstruments 2023-09-30 01494733 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 01494733 core:FurnitureFittingsToolsEquipment 2023-09-30 01494733 core:LandBuildings 2023-09-30 01494733 core:MotorVehicles 2023-09-30 01494733 bus:CompanySecretaryDirector1 1 2022-10-01 2023-09-30 01494733 bus:Director2 1 2022-10-01 2023-09-30 01494733 bus:Director3 1 2022-10-01 2023-09-30 01494733 bus:CompanySecretaryDirector1 1 2022-09-30 01494733 bus:Director2 1 2022-09-30 01494733 bus:Director3 1 2022-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 01494733

Stewart Energy (Insulation) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Stewart Energy (Insulation) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Stewart Energy (Insulation) Limited

(Registration number: 01494733)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,994

16,161

Current assets

 

Stocks

5

719,998

820,132

Debtors

6

484,992

630,371

Cash at bank and in hand

 

1,691

74,025

 

1,206,681

1,524,528

Creditors: Amounts falling due within one year

7

(282,382)

(520,580)

Net current assets

 

924,299

1,003,948

Total assets less current liabilities

 

943,293

1,020,109

Creditors: Amounts falling due after more than one year

7

(14,167)

(29,143)

Net assets

 

929,126

990,966

Capital and reserves

 

Called up share capital

8

20,000

20,000

Retained earnings

909,126

970,966

Shareholders' funds

 

929,126

990,966

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2025 and signed on its behalf by:
 

.........................................
Mr I N Stewart
Director

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Brackley Grange
Halse Road
Brackley
Northamptonshire
NN13 6FA

These financial statements were authorised for issue by the Board on 10 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

25% on cost, 10% on cost and Straight line over 25 years

Plant and machinery

25% straight line

Office equipment

25% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 12).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

37,018

168,052

97,027

302,097

Additions

-

2,066

16,078

18,144

Disposals

-

-

(14,778)

(14,778)

At 30 September 2024

37,018

170,118

98,327

305,463

Depreciation

At 1 October 2023

37,018

162,203

86,715

285,936

Charge for the year

-

2,999

5,769

8,768

Eliminated on disposal

-

-

(8,235)

(8,235)

At 30 September 2024

37,018

165,202

84,249

286,469

Carrying amount

At 30 September 2024

-

4,916

14,078

18,994

At 30 September 2023

-

5,849

10,312

16,161

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

719,998

820,132

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Trade debtors

87,092

57,249

Prepayments

8,072

10,451

Other debtors

389,828

562,671

484,992

630,371

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

43,212

16,919

Trade creditors

 

165,905

274,908

Taxation and social security

 

53,350

182,793

Accruals and deferred income

 

13,641

35,383

Other creditors

 

6,274

10,577

 

282,382

520,580

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

14,167

29,143

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000

       

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

14,167

24,167

Hire purchase contracts

-

4,976

14,167

29,143

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Bank overdrafts

26,962

-

Hire purchase contracts

6,250

6,919

43,212

16,919

 

Stewart Energy (Insulation) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr I N Stewart

(368,705)

(54,598)

236,046

(187,257)

Mrs N A R Stewart

(87,149)

(8,286)

536

(94,899)

Mr G Bradshaw

(608)

(854)

-

(1,462)

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr I N Stewart

(183,569)

(279,440)

94,304

(368,705)

Mrs N A R Stewart

(73,706)

(16,836)

3,393

(87,149)

Mr G Bradshaw

(350)

(306)

48

(608)