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Registration number: 01000483

Stuart Frazer Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2025

 

Stuart Frazer Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Stuart Frazer Limited

(Registration number: 01000483)
Abridged Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,293,524

1,416,881

Current assets

 

Stocks

804,485

909,053

Debtors

1,903,338

3,310,501

Other financial assets

5

1,167,851

1,108,460

Cash at bank and in hand

 

3,756,295

2,087,982

 

7,631,969

7,415,996

Prepayments and accrued income

 

41,408

43,959

Creditors: Amounts falling due within one year

(1,681,514)

(1,537,248)

Net current assets

 

5,991,863

5,922,707

Total assets less current liabilities

 

7,285,387

7,339,588

Provisions for liabilities

(41,671)

(57,417)

Accruals and deferred income

 

(45,475)

(92,445)

Net assets

 

7,198,241

7,189,726

Capital and reserves

 

Called up share capital

6

10,000

10,000

Capital redemption reserve

4,500

4,500

Revaluation reserve

779,202

795,498

Retained earnings

6,404,539

6,379,728

Shareholders' funds

 

7,198,241

7,189,726

 

Stuart Frazer Limited

(Registration number: 01000483)
Abridged Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 30 June 2025
 

.........................................
Mr M F Harrison
Director

 

Stuart Frazer Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Unit 11-12
Three Point Business Park
Charles Lane
Haslingden
Lancashire
BB4 5EH

These financial statements were authorised for issue by the director on 30 June 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 abridged 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 abridged 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Stuart Frazer Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

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 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:

Asset class

Depreciation method and rate

Freehold property

2% pa on cost

Leasehold property

Straight line over the term of the lease

Office equipment

25% pa reducing balance

Showroom fixtures & fittings

Straight line over 3 years

Motor vehicles

25% pa reducing balance

Machinery & tools

25% pa 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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

 

Stuart Frazer Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 36 (2024 - 38).

 

Stuart Frazer Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Total
£

Cost or valuation

At 1 February 2024

2,222,740

Additions

5,453

Disposals

(29,666)

At 31 January 2025

2,198,527

Depreciation

At 1 February 2024

805,859

Charge for the year

120,481

Eliminated on disposal

(21,337)

At 31 January 2025

905,003

Net book value

At 31 January 2025

1,293,524

At 31 January 2024

1,416,881

5

Other financial assets (current and non-current)

Total
£

Current financial assets

Cost or valuation

At 1 February 2024

1,108,460

Fair value adjustments

59,391

At 31 January 2025

1,167,851

Impairment

Net book value

At 31 January 2025

1,167,851

 

Stuart Frazer Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

7

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 £314,485 (2024 - £403,310).

8

Parent and ultimate parent undertaking

The company's immediate parent is Stuart Frazer Holdings Ltd, incorporated in England.