REGISTERED NUMBER: 01710040 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

STENNETTS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S J Stennett

Mrs K M Ealham

SECRETARY:

Mrs J M Stennett

REGISTERED OFFICE:

Farnfield Yard

Gaston Gate

Guildford Road

Cranleigh

Surrey

GU6 8QZ

REGISTERED NUMBER:

01710040 (England and Wales)

ACCOUNTANTS:

CLS Accountants Limited

Chartered Certified Accountants

2 Rythe Close

Esher

Surrey

KT10 9DD

FIXED ASSETS

Tangible assets

4

6,616,701

5,573,668

CURRENT ASSETS

Stocks

41,456

40,673

Debtors

5

520,323

636,997

Cash at bank and in hand

3,738

63,373

565,517

741,043

CREDITORS

Amounts falling due within one year

6

2,267,541

2,057,485

NET CURRENT LIABILITIES

(1,702,024

)

(1,316,442

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,914,677

4,257,226

CREDITORS

Amounts falling due after more than one year

7

(3,271,024

)

(2,700,134

)

PROVISIONS FOR LIABILITIES

(795,683

)

(749,976

)

NET ASSETS

847,970

807,116

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

747,970

707,116

SHAREHOLDERS' FUNDS

847,970

807,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 11 December 2025 and were signed on its behalf by:

S J Stennett - Director

Mrs K M Ealham - Director

1.	STATUTORY INFORMATION

Stennetts 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

33% on cost, 15% on reducing balance and at variable rates on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

591,440

8,932,651

9,524,091

Additions

-

2,669,700

2,669,700

Disposals

-

(1,170,515

)

(1,170,515

)

At 31 March 2025

591,440

10,431,836

11,023,276

DEPRECIATION

At 1 April 2024

-

3,950,423

3,950,423

Charge for year

-

1,239,553

1,239,553

Eliminated on disposal

-

(783,401

)

(783,401

)

At 31 March 2025

-

4,406,575

4,406,575

NET BOOK VALUE

At 31 March 2025

591,440

6,025,261

6,616,701

At 31 March 2024

591,440

4,982,228

5,573,668

Included in net book values of motor vehicles and plant & machinery are assets held under hire purchase contracts totalling £957,047 and £4,389,147 (2024 - £1,107,845 and £3,306,172) respectively.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

457,547

584,552

Other debtors

62,776

52,445

520,323

636,997

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

457,568

399,416

Hire purchase contracts (see note 8)

1,324,618

1,201,444

Trade creditors

201,635

175,669

Taxation and social security

128,446

39,802

Other creditors

155,274

241,154

2,267,541

2,057,485

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

51,871

117,495

Hire purchase contracts (see note 8)

3,219,153

2,582,639

3,271,024

2,700,134

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

1,324,618

1,201,444

Between one and five years

3,219,153

2,582,639

4,543,771

3,784,083

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

182,908

188,328

Between one and five years

403,765

586,674

586,673

775,002

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdrafts

392,778

336,036

Bank loans

116,661

180,875

Hire purchase contracts

4,543,771

3,784,083

5,053,210

4,300,994

The bank facility is secured by a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured on the assets concerned.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in the Directors' current account was a loan of £40,000 which was repayable to Mr S J Stennett. This loan was repayable on demand. An interest rate of 8.75% was charged on this loan.

The amount due to Mr S J Stennett at 31 March 2025 was £53,757 (2024 - £79,251).