REGISTERED NUMBER: 15333190 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Stephen D Francis Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Francis

Mr D Francis

Mr S D Francis

REGISTERED OFFICE:

Boundary Cottage Wellingore Road

Welbourn

Lincoln

Lincolnshire

LN5 0QJ

REGISTERED NUMBER:

15333190 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

4

514,732

471,523

CURRENT ASSETS

Stocks

100,000

12,000

Debtors

41,189

29,709

Cash at bank

115,874

177,514

257,063

219,223

CREDITORS

Amounts falling due within one year

344,110

317,177

NET CURRENT LIABILITIES

(87,047

)

(97,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

427,685

373,569

CREDITORS

Amounts falling due after more than one year

(179,303

)

(262,786

)

PROVISIONS FOR LIABILITIES

(29,208

)

-

NET ASSETS

219,174

110,783

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

218,874

110,483

219,174

110,783

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

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 September 2026 and were signed on its behalf by:

Mr S D Francis - Director

1.	STATUTORY INFORMATION

Stephen D Francis 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Freehold land - Nil

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Freehold buildings are not depreciated as the company maintains the property to a high standard undertaking maintenance and repairs as required. The estimated residual value of the buildings is considered to be greater than the carrying value in the financial statements.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

486,780

Additions

86,630

Disposals

(52,338

)

At 31 December 2025

521,072

DEPRECIATION

At 1 January 2025

15,257

Charge for year

25,892

Eliminated on disposal

(34,809

)

At 31 December 2025

6,340

NET BOOK VALUE

At 31 December 2025

514,732

At 31 December 2024

471,523

5.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Mortgage loan

263,786

362,786

The loan is secured by a charge on the companies freehold land.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2025 and the period ended 31 December 2024:

2025

2024

as restated

£

£

Mr D Francis

Balance outstanding at start of year

-

-

Amounts advanced

13,574

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,574

-

The loan is an unsecured loan, interest has been charged on the overdrawn loan account.

7.	RELATED PARTY DISCLOSURES

Included in creditors falling due within one year are directors loan balances - Mr S D Francis £67,982 (2024: £58,933), and Mrs M Francis £30,512 (2024: £30,222). These balances are interest free, unsecured and repayable on demand.

Included in debtors falling due within one year is a directors loan balance relating to Mr D Francis of £13,574 (2024: £8,305 creditor). This balance was repaid within 9 months of the year end.