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Registration number: 11849687

Stewart Wilkins Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Stewart Wilkins Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Stewart Wilkins Limited

Company Information

Directors

Mrs S Wilkins

Mr S Wilkins

Registered office

1 Hartley Close
Dibden Purlieu
Southampton
Hampshire
SO45 4LU

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Stewart Wilkins Limited

(Registration number: 11849687)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

16,852

17,287

Current assets

 

Stocks

5

2,500

25,564

Debtors

6

7,352

21,774

Cash at bank and in hand

 

20,916

25,011

 

30,768

72,349

Creditors: Amounts falling due within one year

7

(14,997)

(82,223)

Net current assets/(liabilities)

 

15,771

(9,874)

Net assets

 

32,623

7,413

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

32,622

7,412

Shareholders' funds

 

32,623

7,413

For the financial year ending 28 February 2025 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 15 May 2025 and signed on its behalf by:
 

.........................................
Mr S Wilkins
Director

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1 Hartley Close
Dibden Purlieu
Southampton
Hampshire
SO45 4LU

These financial statements were authorised for issue by the Board on 15 May 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.

Going concern

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2

Accounting policies (continued)

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.


Cost of sales

The cost of sales is the accumulated total of all costs used to create a product or service, which has been sold.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Computer Equipment

33% Straight Line

Fixtures and Fittings

25% Straight Line

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.

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.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 March 2024

1,838

87,233

1,987

91,058

Additions

-

3,000

895

3,895

At 28 February 2025

1,838

90,233

2,882

94,953

Depreciation

At 1 March 2024

1,105

71,194

1,472

73,771

Charge for the year

428

3,380

522

4,330

At 28 February 2025

1,533

74,574

1,994

78,101

Carrying amount

At 28 February 2025

305

15,659

888

16,852

At 29 February 2024

733

16,039

515

17,287

5

Stocks

2025
£

2024
£

Other inventories

2,500

25,564

6

Debtors

Current

2025
£

2024
£

Trade debtors

4,806

18,341

Prepayments

139

-

Other debtors

1,231

1,378

 

6,176

19,719

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

6

Debtors (continued)

Non-current

2025
£

2024
£

Deferred tax asset

1,176

2,055

 

1,176

2,055

 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

3,066

4,842

Taxation and social security

7,552

3,066

Accruals and deferred income

-

52,824

Other creditors

4,379

21,491

14,997

82,223

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Dividends

2025

2024

£

£

Interim dividend of £2,000.00 (2024 - £Nil) per ordinary share

2,000

-

 

 
 

Stewart Wilkins Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

10

Related party transactions

Transactions with directors

2025

At 1 March 2024
£

Advances to director
£

Repayments by director
£

At 28 February 2025
£

Mr S Wilkins

The loan is interest free with no fixed date of repayment.

(21,491)

19,112

(2,000)

(4,379)