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Registration number: 01379763

Stevens & Billington Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Stevens & Billington Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Stevens & Billington Limited

Company Information

Director

JG Billington

Company secretary

Manningtons Ltd

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Stevens & Billington Limited

(Registration number: 01379763)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,573

17,255

Current assets

 

Stocks

5

14,000

14,000

Debtors

6

71,426

70,274

Cash at bank and in hand

 

50

50

 

85,476

84,324

Creditors: Amounts falling due within one year

7

(59,720)

(59,361)

Net current assets

 

25,756

24,963

Total assets less current liabilities

 

41,329

42,218

Creditors: Amounts falling due after more than one year

7

(10,611)

(13,919)

Net assets

 

30,718

28,299

Capital and reserves

 

Called up share capital

100

100

Retained earnings

30,618

28,199

Shareholders' funds

 

30,718

28,299

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 May 2025
 

.........................................
JG Billington
Director

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

The principal place of business is:
Unit G53
Atlas Business Park
Rye Harbour Road
Rye
East Sussex
TN31 7TE

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

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

Plant and machinery

10% reducing balance

Office equipment

33% straight line

Fixtures,fittings and equipment

10% reducing balance

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 at the transaction price, 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.

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 at the transaction price.

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

6,567

59,669

66,236

Additions

119

-

119

Disposals

(2,671)

(375)

(3,046)

At 31 August 2024

4,015

59,294

63,309

Depreciation

At 1 September 2023

5,532

43,449

48,981

Charge for the year

114

1,589

1,703

Eliminated on disposal

(2,671)

(277)

(2,948)

At 31 August 2024

2,975

44,761

47,736

Carrying amount

At 31 August 2024

1,040

14,533

15,573

At 31 August 2023

1,035

16,220

17,255

5

Stocks

2024
£

2023
£

Work in progress

-

4,000

Other inventories

14,000

10,000

14,000

14,000

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

2,848

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

70,482

66,362

Taxation and social security

 

944

1,064

 

71,426

70,274

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

17,210

14,322

Trade creditors

 

8,691

4,403

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

30,459

37,368

Taxation and social security

 

1,361

1,266

Accruals and deferred income

 

1,999

2,002

 

59,720

59,361

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

10,611

13,919

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,611

13,919

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,639

5,639

Bank overdrafts

11,571

8,683

17,210

14,322

Bank borrowings

HSBC Plc is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 30 June 2026. The carrying amount at year end is £16,250 (2023 - £19,558).

 

Stevens & Billington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Summary of transactions with parent

Stevens and Billington Enterprises Limited
 Management fee are paid to parent company
 

Summary of transactions with associates

Sales and management fees
 

Income and receivables from related parties

2024

Parent
£

Amounts receivable from related party

70,482

2023

Parent
£

Amounts receivable from related party

66,362

Expenditure with and payables to related parties

2024

Parent
£

Associates
£

Rendering of services

23,000

-

Amounts payable to related party

-

30,459

2023

Parent
£

Associates
£

Rendering of services

35,000

-

Amounts payable to related party

-

37,369

10

Parent and ultimate parent undertaking

The company's immediate parent is Stevens and Billington Enterprises Limited, incorporated in England and Wales.

  These financial statements are available upon request from Unit G53
Atlas Business Park
Rye Harbour Road
Rye
East Sussex
TN31 7TE

 The ultimate controlling party is J.G. Billington.