Stewarts Rentals & Renovations Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10809524

STEWARTS RENTALS & RENOVATIONS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 June 2025

STEWARTS RENTALS & RENOVATIONS LTD

STATEMENT OF FINANCIAL POSITION

30 June 2025

	2025	2024
Note	£	£

FIXED ASSETS

Tangible assets	5	402,977	789,338

CURRENT ASSETS

Debtors	6	7,204	–
Cash at bank and in hand		27,476	2,791
		--------	-------
		34,680	2,791

CREDITORS: amounts falling due within one year	7	26,848	261,177
		--------	---------
NET CURRENT ASSETS/(LIABILITIES)		7,832	( 258,386)
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		410,809	530,952

CREDITORS: amounts falling due after more than one year	8	337,842	508,857
		---------	---------
NET ASSETS		72,967	22,095
		---------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	72,867	21,995
	--------	--------
SHAREHOLDERS FUNDS	72,967	22,095
	--------	--------

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 June 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 .

STEWARTS RENTALS & RENOVATIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 8 October 2025 , and are signed on behalf of the board by:

Mrs M Stewart	Mr P A Stewart
Director	Director

Company registration number: 10809524

STEWARTS RENTALS & RENOVATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 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 463-465 High Street, Lincoln, LN5 8JB.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Freehold property	-	2% straight line
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. TANGIBLE ASSETS

	Land and buildings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 July 2024	860,810	–	4,671	865,481
Additions	41,472	52,995	27,327	121,794
Disposals	( 479,407)	–	( 2,182)	( 481,589)
	---------	--------	--------	---------
At 30 June 2025	422,875	52,995	29,816	505,686
	---------	--------	--------	---------
Depreciation
At 1 July 2024	72,917	–	3,226	76,143
Charge for the year	7,849	13,249	7,194	28,292
Disposals	–	–	( 1,726)	( 1,726)
	---------	--------	--------	---------
At 30 June 2025	80,766	13,249	8,694	102,709
	---------	--------	--------	---------
Carrying amount
At 30 June 2025	342,109	39,746	21,122	402,977
	---------	--------	--------	---------
At 30 June 2024	787,893	–	1,445	789,338
	---------	--------	--------	---------

6. DEBTORS

	2025	2024
	£	£
Other debtors	7,204	–
	-------	----

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	18,897	666
Other creditors	7,951	260,511
	--------	---------
	26,848	261,177
	--------	---------

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	297,136	508,857
Other creditors	40,706	–
	---------	---------
	337,842	508,857
	---------	---------

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs M Stewart	( 129,745)	129,591	( 154)
Mr P A Stewart	( 129,746)	129,591	( 155)
	---------	---------	----
	( 259,491)	259,182	( 309)
	---------	---------	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs M Stewart	( 19,952)	( 109,793)	( 129,745)
Mr P A Stewart	( 19,953)	( 109,793)	( 129,746)
	--------	---------	---------
	( 39,905)	( 219,586)	( 259,491)
	--------	---------	---------