COMPANY REGISTRATION NUMBER:
05014849
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 April 2025
Fixed assets
|
Tangible assets |
5 |
|
53,538 |
39,304 |
|
|
|
|
|
Current assets
|
Stocks |
114,900 |
|
114,900 |
|
Debtors |
6 |
364,389 |
|
268,243 |
|
Cash at bank and in hand |
363,607 |
|
396,307 |
|
--------- |
|
--------- |
|
842,896 |
|
779,450 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
402,282 |
|
375,910 |
|
--------- |
|
--------- |
|
Net current assets |
|
440,614 |
403,540 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
494,152 |
442,844 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
12,476 |
8,775 |
|
|
--------- |
--------- |
|
Net assets |
|
481,676 |
434,069 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2 |
2 |
|
Profit and loss account |
|
481,674 |
434,067 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
481,676 |
434,069 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
30 April 2025
These financial statements were approved by the
board of directors
and authorised for issue on
31 October 2025
, and are signed on behalf of the board by:
|
Mr R P J Steddy |
Mrs G Steddy |
|
Director |
Director |
|
|
Company registration number:
05014849
|
Notes to the Financial Statements |
|
Year ended 30 April 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Trews Field, Tondu Road, Bridgend, CF31 4LH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents sales during the year excluding Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
15% reducing balance |
|
Motor Vehicles |
- |
25% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
60
(2024:
56
).
5.
Tangible assets
|
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 May 2024 |
46,118 |
112,101 |
158,219 |
|
Additions |
– |
26,847 |
26,847 |
|
Disposals |
– |
(
10,550) |
(
10,550) |
|
-------- |
--------- |
--------- |
|
At 30 April 2025 |
46,118 |
128,398 |
174,516 |
|
-------- |
--------- |
--------- |
|
Depreciation |
|
|
|
|
At 1 May 2024 |
34,040 |
84,875 |
118,915 |
|
Charge for the year |
1,812 |
10,695 |
12,507 |
|
Disposals |
– |
(
10,444) |
(
10,444) |
|
-------- |
--------- |
--------- |
|
At 30 April 2025 |
35,852 |
85,126 |
120,978 |
|
-------- |
--------- |
--------- |
|
Carrying amount |
|
|
|
|
At 30 April 2025 |
10,266 |
43,272 |
53,538 |
|
-------- |
--------- |
--------- |
|
At 30 April 2024 |
12,078 |
27,226 |
39,304 |
|
-------- |
--------- |
--------- |
|
|
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
340,195 |
237,390 |
|
Other debtors |
24,194 |
30,853 |
|
--------- |
--------- |
|
364,389 |
268,243 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
173,290 |
136,740 |
|
Corporation tax |
95,390 |
107,254 |
|
Social security and other taxes |
59,460 |
50,036 |
|
Other creditors |
74,142 |
81,880 |
|
--------- |
--------- |
|
402,282 |
375,910 |
|
--------- |
--------- |
|
|
|
8.
Related party transactions
Perkily Consulting Ltd, a company under key management control, provided services totalling £100,754 (2024: £83,662) during the year. No amounts were owed by
Steddy Limited
at the year end.