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Company Registration No. 08250995 (England and Wales)
Stokesley Tractors Ltd Unaudited accounts for the year ended 31 March 2025
Stokesley Tractors Ltd Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
- 2 -
Stokesley Tractors Ltd Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
5
1,438,022
1,516,655
Investments
6
100
100
1,438,122
1,516,755
Current assets
Inventories
120,275
128,150
Debtors
7
717,605
122,295
Cash at bank and in hand
367,446
1,073,872
1,205,326
1,324,317
Creditors: amounts falling due within one year
8
(584,251)
(696,492)
Net current assets
621,075
627,825
Total assets less current liabilities
2,059,197
2,144,580
Creditors: amounts falling due after more than one year
9
(15,080)
(66,169)
Provisions for liabilities
Deferred tax
(143,816)
(151,462)
Net assets
1,900,301
1,926,949
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
1,900,201
1,926,849
Shareholders' funds
1,900,301
1,926,949
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by
Mr A Farrow Director Company Registration No. 08250995
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Stokesley Tractors Ltd Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Stokesley Tractors Ltd is a private company, limited by shares, registered in England and Wales, registration number 08250995. The registered office is Hill House Farm, Redmarshall Road, Redmarshall, Stockton-On-Tees, Cleveland, TS21 1EW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
3% on cost
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Investments in subsidiaries
Investments in subsidiaries accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Stokesley Tractors Ltd Notes to the Accounts for the year ended 31 March 2025
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
250,000
At 31 March 2025
250,000
Amortisation
At 1 April 2024
250,000
At 31 March 2025
250,000
Net book value
At 31 March 2025
-
- 5 -
Stokesley Tractors Ltd Notes to the Accounts for the year ended 31 March 2025
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
954,775
730,893
765,571
7,193
2,458,432
Additions
-
-
120,161
-
120,161
At 31 March 2025
954,775
730,893
885,732
7,193
2,578,593
Depreciation
At 1 April 2024
120,978
425,667
388,845
6,287
941,777
Charge for the year
38,191
61,045
99,377
181
198,794
At 31 March 2025
159,169
486,712
488,222
6,468
1,140,571
Net book value
At 31 March 2025
795,606
244,181
397,510
725
1,438,022
At 31 March 2024
833,797
305,226
376,726
906
1,516,655
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
62,300
77,875
6
Investments
Subsidiary undertakings
£
Valuation at 1 April 2024
100
Valuation at 31 March 2025
100
7
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
682,084
103,132
Accrued income and prepayments
8,730
8,363
Other debtors
26,791
10,800
717,605
122,295
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
12,833
11,000
Obligations under finance leases and hire purchase contracts
40,000
59,821
Trade creditors
384,393
207,477
Amounts owed to group undertakings and other participating interests
-
182,177
Taxes and social security
5,304
70,555
Other creditors
141,721
165,462
584,251
696,492
- 6 -
Stokesley Tractors Ltd Notes to the Accounts for the year ended 31 March 2025
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
11,601
Obligations under finance leases and hire purchase contracts
15,080
54,568
15,080
66,169
10
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 6 (2024: 5).
- 7 -