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COMPANY REGISTRATION NUMBER: 00774484
Staniforths (Rawmarsh) Limited
Filleted Financial Statements
30 September 2024
Staniforths (Rawmarsh) Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
509,029
533,514
Investments
6
50
50
---------
---------
509,079
533,564
Current assets
Stocks
96,979
113,555
Debtors
7
72,638
93,889
Cash at bank and in hand
257,537
306,047
---------
---------
427,154
513,491
Creditors: amounts falling due within one year
8
309,477
292,505
---------
---------
Net current assets
117,677
220,986
---------
---------
Total assets less current liabilities
626,756
754,550
Creditors: amounts falling due after more than one year
9
3,298
4,123
---------
---------
Net assets
623,458
750,427
---------
---------
Capital and reserves
Called up share capital
10
20,000
20,000
Profit and loss account
603,458
730,427
---------
---------
Shareholders funds
623,458
750,427
---------
---------
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.
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.
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mrs L J Hans
Director
Company registration number: 00774484
Staniforths (Rawmarsh) Limited
Notes to the Financial Statements
Year ended 30 September 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 108 Broad Street, Parkgate, Rotherham, South Yorkshire, S62 6EN.
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. he financial statements are prepared in sterling, which is the functional currency of the entity. The company has taken advantage of the provisions in section 390 of the Companies Act 2006 which allow the company to make accounts up to a date within seven days of the accounting reference date. These financial statements are made up to 30 September 2024 (2023: 2 October).
Revenue recognition
Turnover represents net sales of goods, excluding value added tax.
Tangible assets
angible 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.
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:
Freehold property
-
2% Straight line and not provided
Short leasehold property
-
10% straight line
Plant and machinery
-
33% Straight line and 20% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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 valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 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 135 (2023: 132 ).
5. Tangible assets
Freehold property
Short leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
572,822
82,586
1,653,225
99,995
2,408,628
Additions
15,985
15,985
---------
-------
-----------
-------
-----------
At 30 September 2024
572,822
82,586
1,669,210
99,995
2,424,613
---------
-------
-----------
-------
-----------
Depreciation
At 1 October 2023
166,717
80,522
1,559,094
68,781
1,875,114
Charge for the year
9,023
1,033
22,610
7,804
40,470
---------
-------
-----------
-------
-----------
At 30 September 2024
175,740
81,555
1,581,704
76,585
1,915,584
---------
-------
-----------
-------
-----------
Carrying amount
At 30 September 2024
397,082
1,031
87,506
23,410
509,029
---------
-------
-----------
-------
-----------
At 30 September 2023
406,105
2,064
94,131
31,214
533,514
---------
-------
-----------
-------
-----------
6. Investments
Other investments other than loans
£
Cost
At 1 October 2023 and 30 September 2024
50
----
Impairment
At 1 October 2023 and 30 September 2024
----
Carrying amount
At 30 September 2024
50
----
At 30 September 2023
50
----
7. Debtors
2024
2023
£
£
Trade debtors
1,570
1,682
Prepayments and accrued income
22,357
28,608
Other debtors
48,711
63,599
-------
-------
72,638
93,889
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
205,810
191,345
Accruals and deferred income
56,203
43,019
Social security and other taxes
18,638
19,261
Other creditors
28,826
38,880
---------
---------
309,477
292,505
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Accruals and deferred income
3,298
4,123
------
------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
20,000
20,000
20,000
20,000
-------
-------
-------
-------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
3,600
18,850
Later than 1 year and not later than 5 years
6,000
9,600
------
-------
9,600
28,450
------
-------
12. Summary audit opinion
The auditor's report dated 28 February 2025 was unqualified .
The senior statutory auditor was Stephen Allen ACA FCCA , for and on behalf of Allen, West and Foster .