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Registration number: 04539298

Stemgold Peas Limited

Filleted Financial Statements

for the Year Ended 31 October 2024

 

Stemgold Peas Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Stemgold Peas Limited

Company Information

Directors

T R Needham

A R Craven

R J Douglas

I Watson

A L Buckley

W R Bryant

S R King

C Baylis

Company secretary

J Ward

Registered office

BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

 

Stemgold Peas Limited

(Registration number: 04539298)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

723,500

682,346

Other financial assets

5

1

1

 

723,501

682,347

Current assets

 

Debtors

6

1,530,816

1,720,033

Cash at bank and in hand

 

94,303

209,989

 

1,625,119

1,930,022

Creditors: Amounts falling due within one year

7

(1,623,823)

(1,796,587)

Net current assets

 

1,296

133,435

Total assets less current liabilities

 

724,797

815,782

Creditors: Amounts falling due after more than one year

7

(280,064)

(364,927)

Net assets

 

444,733

450,855

Capital and reserves

 

Called up share capital

9

40

40

Other reserves

29,436

35,558

Retained earnings

415,257

415,257

Shareholders' funds

 

444,733

450,855

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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................
T R Needham
Director

 

Stemgold Peas Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04539298.

The address of its registered office is:
BGA House
Nottingham Road
Louth
Lincolnshire
LN11 0WB

These financial statements cover the individual entity, Stemgold Peas Limited.

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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 financial statements have been prepared in sterling and are rounded to the nearest pound.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 May 2025 was Adam Millson ACA, who signed for and on behalf of Forrester Boyd Robson Limited.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33.33%, 16.66% and 8.33% per annum of cost

 

Stemgold Peas Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

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.

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.

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.

Borrowings which are classified as non current liabilities and are at a non market rate of interest are initially recorded at fair value. These borrowings are subsequently carried at amortised cost, with the difference between the proceeds and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 on a straight line basis.

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.

 

Stemgold Peas Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

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

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

1,168,061

1,168,061

Additions

189,995

189,995

At 31 October 2024

1,358,056

1,358,056

Depreciation

At 1 November 2023

485,715

485,715

Charge for the year

148,841

148,841

At 31 October 2024

634,556

634,556

Carrying amount

At 31 October 2024

723,500

723,500

At 31 October 2023

682,346

682,346

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2023

1

1

At 31 October 2024

1

1

Carrying amount

At 31 October 2024

1

1

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,424,116

1,544,050

Prepayments and accrued income

9,696

44,889

Other debtors

97,004

131,094

 

1,530,816

1,720,033

 

Stemgold Peas Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

65,116

50,994

Accruals and deferred income

95,028

99,195

Other creditors

1,463,679

1,646,398

1,623,823

1,796,587

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

267,628

340,054

Deferred income

 

12,436

24,873

 

280,064

364,927

Creditor amounts falling due within one year on which security has been given includes hire purchase liabilities of £249,880 (2023 - £199,215).

Creditor amounts falling due in more than one year on which security has been given includes hire purchase liabilities of £179,880 (2023 - £258,429).

The hire purchase balances are secured on the assets to which they relate.
 

 

Stemgold Peas Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

179,880

258,429

Other borrowings

87,748

81,625

267,628

340,054

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

249,880

199,215

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

40

40

40

40

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £151,995).