REGISTERED NUMBER: 05090527 (England and Wales)

Financial Statements

for the Year Ended 30 November 2025

for

STEVENSONS OF NORWICH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G C S Gates

T P J Gates

E G R Gates

D W Wallace

D M Fiddy

L A Kerry

M Coohill

SECRETARY:

D M Fiddy

REGISTERED OFFICE:

Mag Building

Vulcan Road South

Norwich

Norfolk

NR6 6AF

REGISTERED NUMBER:

05090527 (England and Wales)

AUDITORS:

Rawse, Varley & Co

Statutory Auditor

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

CURRENT ASSETS

Stock

266,666

208,323

Debtors

4

2,164,095

1,914,121

Cash at bank

1,614,122

1,803,200

4,044,883

3,925,644

CREDITORS

Amounts falling due within one year

5

825,942

896,365

NET CURRENT ASSETS

3,218,941

3,029,279

TOTAL ASSETS LESS CURRENT LIABILITIES

3,218,941

3,029,279

CAPITAL AND RESERVES

Called up share capital

7

500,000

500,000

Retained earnings

2,718,941

2,529,279

SHAREHOLDERS' FUNDS

3,218,941

3,029,279

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2026 and were signed on its behalf by:

G C S Gates - Director

1.	STATUTORY INFORMATION

Stevensons of Norwich Limited 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 the value of goods sold and in the case of contract work revenue recognised as earned for the supply of goods and services during the year, excluding value added tax.

Stock

Stock is stated at the lower of cost and net realisable value. In the case of finished stock, cost includes an appropriate proportion of manufacturing overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 contributions

Contributions to the group defined contribution pension scheme are charged to profit and loss account when incurred.

Contract revenue recognition

Revenue relating to contracts is recognised as earned when and to the extent that the company obtains the right to consideration in exchange for the supply of goods and performance of services under contracts with customers. Revenue is generally recognised as contract activity progresses, such that for incomplete contracts it reflects the partial performance of contractual obligations.

The amount of profit recognised on incomplete contracts is the lower of profit earned to date and the appropriate proportion of profit expected at completion. Full provision is made for known or expected losses at completion immediately such losses are identified.

The amount by which revenue recognised on incomplete contracts exceeds payments received on account is classified in the balance sheet as "Amounts recoverable on contracts".

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 28 ) .

4.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

614,368

473,902

Amounts owed by group undertakings

1,466,494

1,389,291

Amounts recoverable on contracts

39,152

28,002

Other debtors

4,461

-

Prepayments and accrued income

38,514

21,742

2,162,989

1,912,937

Amounts falling due after more than one year:

Deferred tax asset

1,106

1,184

Aggregate amounts

2,164,095

1,914,121

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Payments on account of contracts

138,467

165,582

Trade creditors

228,173

238,248

Amounts owed to group undertakings

861

5,744

Corporation tax

63,143

122,033

Social security and other taxes

104,096

138,560

Accruals and deferred income

291,202

226,198

825,942

896,365

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

1,513

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

500,000

Ordinary

£1

500,000

500,000

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Varley (Senior Statutory Auditor)

for and on behalf of Rawse, Varley & Co

9.	CONTINGENT LIABILITIES AND GUARANTEES

The company is party to an unlimited cross guarantee to its bankers securing the borrowings of group companies. There were no such borrowings at 30 November 2025 - 2024: none.

Overall the group's cash at bank amounted to £17,134,583 - 2024: £16,413,757.

The company is contingently liable under a group registration scheme for VAT liabilities of group companies. At 30 November 2025 such liabilities amounted to £467,891 - 2024: £415,012.

The above arrangements are not expected to have any financial effect on the company.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', from disclosing related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is MAG Group Limited.

The ultimate controlling party is G C S Gates.

The registered office of MAG Group Limited is Vulcan Road South, Norwich NR6 6AF.

12.	BANK SECURITY

Bank borrowings are secured by a debenture over the company's assets. There were no such bank borrowings at 30 November 2025 - 2024: none.