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REGISTERED NUMBER: 11813170 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Storey & Son Ltd

Storey & Son Ltd (Registered number: 11813170)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Storey & Son Ltd

Company Information
for the Year Ended 28 February 2025







DIRECTORS: C A Storey
Mrs K Storey





REGISTERED OFFICE: 4 Beza Street
Hunslet
Leeds
LS10 2BG





REGISTERED NUMBER: 11813170 (England and Wales)





ACCOUNTANTS: Hope Agar
Chartered Accountants
24a Marsh Street
Rothwell
Leeds
LS26 0BB

Storey & Son Ltd (Registered number: 11813170)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 109,009 101,783

CURRENT ASSETS
Stocks 5,000 3,000
Debtors 5 66,704 52,140
Cash at bank 47,981 72,114
119,685 127,254
CREDITORS
Amounts falling due within one year 6 92,019 101,185
NET CURRENT ASSETS 27,666 26,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,675

127,852

CREDITORS
Amounts falling due after more than one
year

7

30,233

56,792
NET ASSETS 106,442 71,060

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 106,242 70,860
106,442 71,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Storey & Son Ltd (Registered number: 11813170)

Balance Sheet - continued
28 February 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:




C A Storey - Director



Mrs K Storey - Director


Storey & Son Ltd (Registered number: 11813170)

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

1. STATUTORY INFORMATION

Storey & Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost and Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Storey & Son Ltd (Registered number: 11813170)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024 174,667
Additions 57,240
Disposals (40,450 )
At 28 February 2025 191,457
DEPRECIATION
At 1 March 2024 72,884
Charge for year 25,744
Eliminated on disposal (16,180 )
At 28 February 2025 82,448
NET BOOK VALUE
At 28 February 2025 109,009
At 29 February 2024 101,783

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2024 102,093
Disposals (40,450 )
At 28 February 2025 61,643
DEPRECIATION
At 1 March 2024 43,919
Charge for year 9,247
Eliminated on disposal (16,180 )
At 28 February 2025 36,986
NET BOOK VALUE
At 28 February 2025 24,657
At 29 February 2024 58,174

Storey & Son Ltd (Registered number: 11813170)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 61,987 48,540
Other debtors 4,717 3,600
66,704 52,140

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 9,289 12,009
Trade creditors 9,178 21,782
Taxation and social security 44,964 47,176
Other creditors 18,588 10,218
92,019 101,185

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Bank loans 3,333 13,333
Hire purchase contracts 26,900 43,459
30,233 56,792

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs C A Storey.