Registration number: 01146094

Buckingham & Stanley Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Buckingham & Stanley Limited

Company Information

Director

Mr A Ballard

Registered office

158 Shelford Road Trumpington Cambridge CB2 9NE

Accountants

Tayabali & White 5 High Green Great Shelford Cambridge CB22 5EG

Buckingham & Stanley Limited

(Registration number: 01146094)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	41,649	43,846
Current assets
Stocks	5	313,391	619,335
Debtors	6	88,044	116,675
Cash at bank and in hand		1,079	2,567
		402,514	738,577
Creditors: Amounts falling due within one year	7	(426,912)	(649,328)
Net current (liabilities)/assets		(24,398)	89,249
Total assets less current liabilities		17,251	133,095
Creditors: Amounts falling due after more than one year	7	(27,020)	(33,115)
Net (liabilities)/assets		(9,769)	99,980
Capital and reserves
Called up share capital	8	15,200	15,200
Share premium reserve		29,148	29,148
Capital redemption reserve		7,296	7,296
Retained earnings		(61,413)	48,336
Shareholders' (deficit)/funds		(9,769)	99,980

For the financial year ending 31 December 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 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 director on 18 August 2025
 

Buckingham & Stanley Limited

(Registration number: 01146094)
Balance Sheet as at 31 December 2024

......................................... Mr A Ballard Director

Buckingham & Stanley Limited

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

1	General information

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

The company's registered number is 01146094.

The address of its registered office is:
158 Shelford Road
Trumpington
Cambridge
CB2 9NE
England

These financial statements were authorised for issue by the director on 18 August 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.

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.

Buckingham & Stanley Limited

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

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
Improvements to property	3, 5 & 10 years - Straight line basis
Plant & Machinery	variable between 3-10 years - Straight line basis
Computer Equipment	3-5 years - Straight line basis

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 items 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.

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.

Buckingham & Stanley Limited

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

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.

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.

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 18 (2023 - 18).

Buckingham & Stanley Limited

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

4	Tangible assets

	Improvements to property £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	509,104	248,427	287,853	1,045,384
Additions	-	11,711	750	12,461
Disposals	-	(14,459)	-	(14,459)
At 31 December 2024	509,104	245,679	288,603	1,043,386
Depreciation
At 1 January 2024	475,899	244,463	281,176	1,001,538
Charge for the year	7,642	4,230	2,786	14,658
Eliminated on disposal	-	(14,459)	-	(14,459)
At 31 December 2024	483,541	234,234	283,962	1,001,737
Carrying amount
At 31 December 2024	25,563	11,445	4,641	41,649
At 31 December 2023	33,205	3,964	6,677	43,846

5

Stocks

	2024 £	2023 £
Raw materials and consumables	34,365	41,988
Work in progress	692	1,336
Other inventories	278,334	576,011
	313,391	619,335

6

Debtors

Current	2024 £	2023 £
Trade debtors	28,899	52,324
Prepayments	59,145	64,351
	88,044	116,675

Buckingham & Stanley Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	6,549	6,706
Trade creditors		353,323	550,702
Taxation and social security		48,890	44,289
Accruals and deferred income		16,150	47,631
Other creditors		2,000	-
		426,912	649,328

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	27,020	33,115

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	15,200	15,200	15,200	15,200

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	27,020	33,115

Current loans and borrowings

Buckingham & Stanley Limited

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

	2024 £	2023 £
Bank borrowings	6,095	6,706
Bank overdrafts	454	-
	6,549	6,706

10	Related party transactions

During the year J I Howarth resigned as a Director. James Howarth & Co Ltd, (a company which is controlled by J I Howarth, a director up to 31st July 2024)
Charged rent to the company of £48,000 (2023: £48,000) for its lease of the Trumpington site.

J I Howarth, (a director of the company up to 31st July 2024), trading personally as JHS Properties owns the High Street, Histon, a property leased to the company. Rent charged to the company during the year for this property was £32,000 (2023: £32,000)

Security was provided for the company for amounts owed to Santander Consumer Finance by way of a personal guarantee on the assets of J I Howarth. The amount of loan for which security has been provided for is included in 'Stocking Loans'. The balance at the end of the year was £136,152 (2023: £149,960)

During the year, further security was provided for the company for amounts owed to Black Horse Finance by way of a personal guarantees filed by Andrew Ballard & James Howarth personally. The amount of loan for which security has been provided for is included in 'Stocking Loans', for both new and demonstration vehicles of the Subaru franchise, with a funding limit of £200,000 on new vehicles, and £150,000 on demonstration vehicles. This franchise arrangement with Subaru ended during this year.The total funding limit is £350,000. The balance at the end of the year was £nil (2023: £243,122)


A Ballard, (a director of the company), provided security for the company for amounts owed to NextGear Capital UK Ltd by way of a personal guarantee. The amount of loan for which security has been provided for is included in 'Stocking Loans'. The funding limit is £ 140,000. The balance at the end of the year was £132,760 (2023: £107,850).

Additional security in support of the Santander loans to the company (see above) remained in place by way of a personal guarantee on the assets of A Ballard. The balance at the end of the year was £136,152 (2023: £149,960).

Additional security in support of the Black Horse Finance loans to the company (see above) remained in place by way of a personal guarantee on the assets of A Ballard. The balance at the end of the year was £nil (2023: £243,122)

Buckingham & Stanley Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	50,525	62,962