Stock I T Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09060944

Stock I T Limited

Filleted Unaudited Financial Statements

31 March 2025

Stock I T Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	1,499	1,499
Tangible assets	6	1,475	4,667
		-------	-------
		2,974	6,166

Current assets

Stocks		150	600
Debtors	7	80,742	76,472
Cash at bank and in hand		2,474	2,430
		--------	--------
		83,366	79,502

Creditors: amounts falling due within one year	8	68,867		67,556
		--------		--------
Net current assets			14,499	11,946
			--------	--------
Total assets less current liabilities			17,473	18,112

Creditors: amounts falling due after more than one year	9	20,447	21,133
		--------	--------
Net liabilities		( 2,974)	( 3,021)
		--------	--------

Stock I T Limited

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 3,074)	( 3,121)
	-------	-------
Shareholders deficit	( 2,974)	( 3,021)
	-------	-------

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 31 March 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 .

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

R Stock

Director

Company registration number: 09060944

Stock I T Limited

Notes to the Financial Statements

Year ended 31 March 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 17 Baneswell Road, Newport, Gwent, United Kingdom, NP20 4BP.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. The figures in the financial statements are rounded to the nearest pound.

Going concern

The Director has given assurances to the company that he will continue to support it for the next 12 months.

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 amount of current 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% p.a. Straight Line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Fixtures & Fittings	-	25% p.a. Straight Line
Improvements to Property	-	25% p.a. Straight Line

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 2 (2024: 2 ).

5. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	26,367	1,499	27,866
	--------	-------	--------
Amortisation
At 1 April 2024 and 31 March 2025	26,367	–	26,367
	--------	-------	--------
Carrying amount
At 31 March 2025	–	1,499	1,499
	--------	-------	--------
At 31 March 2024	–	1,499	1,499
	--------	-------	--------

6. Tangible assets

	Fixtures and fittings	Improvements to property	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	7,882	11,454	19,336
	-------	--------	--------
Depreciation
At 1 April 2024	7,115	7,554	14,669
Charge for the year	328	2,864	3,192
	-------	--------	--------
At 31 March 2025	7,443	10,418	17,861
	-------	--------	--------
Carrying amount
At 31 March 2025	439	1,036	1,475
	-------	--------	--------
At 31 March 2024	767	3,900	4,667
	-------	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	2,549	–
Other debtors	78,193	76,472
	--------	--------
	80,742	76,472
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	8,796	8,124
Trade creditors	13,892	10,567
Corporation tax	39,189	40,470
Social security and other taxes	3,260	3,983
Other creditors	3,730	4,412
	--------	--------
	68,867	67,556
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	20,447	21,133
	--------	--------

10. 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
	£	£	£
R Stock	38,236	860	39,096
N Stock	38,236	861	39,097
	--------	-------	--------
	76,472	1,721	78,193
	--------	-------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
R Stock	13,592	24,644	38,236
N Stock	13,593	24,643	38,236
	--------	--------	--------
	27,185	49,287	76,472
	--------	--------	--------

11. Related party transactions

The company was under the control of Mr R Stock throughout the current and previous year. Mr R Stock is the managing director. As at 31 March 2025 the Directors owed the company £78,193 (2024: £76,472) including interest of 2.25%p.a. applied throughout the year.