A.J. Strefford (Beverley) Limited - Accounts to registrar (filleted) - small 18.2

A.J. STREFFORD (BEVERLEY) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 19 FEBRUARY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs W R Strefford

Mrs L M Hawcroft

SECRETARY:

Mrs W R Strefford

REGISTERED OFFICE:

62/63 Westborough

Scarborough

North Yorkshire

YO11 1TS

BUSINESS ADDRESS:

36 Huntriss Row

Scarborough

North Yorkshire

YO11 2EF

REGISTERED NUMBER:

02893895 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Business Advisors & Accountants

62/63 Westborough

Scarborough

North Yorkshire

YO11 1TS

FIXED ASSETS

Tangible assets

4

152,007

157,090

CURRENT ASSETS

Stocks

18,963

25,924

Debtors

5

1,737

3,225

Cash in hand

81

398

20,781

29,547

CREDITORS

Amounts falling due within one year

6

35,572

28,256

NET CURRENT (LIABILITIES)/ASSETS

(14,791

)

1,291

TOTAL ASSETS LESS CURRENT LIABILITIES

137,216

158,381

CREDITORS

Amounts falling due after more than one year

7

27,083

27,083

NET ASSETS

110,133

131,298

CAPITAL AND RESERVES

Called up share capital

8

2,600

2,600

Capital redemption reserve

320,851

320,851

Retained earnings

(213,318

)

(192,153

)

SHAREHOLDERS' FUNDS

110,133

131,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 19 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 19 February 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2020 and were signed on its behalf by:

Mrs L M Hawcroft - Director

1.	STATUTORY INFORMATION

A.J. Strefford (Beverley) 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period and also have been consistently applied within the same accounts.

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

-

2% on cost

Fixtures and fittings

-

10% 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 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 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

The directors have considered the impact of COVID-19 in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 20 February 2019

and 19 February 2020

253,000

4,826

257,826

DEPRECIATION

At 20 February 2019

96,140

4,596

100,736

Charge for year

5,060

23

5,083

At 19 February 2020

101,200

4,619

105,819

NET BOOK VALUE

At 19 February 2020

151,800

207

152,007

At 19 February 2019

156,860

230

157,090

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

23

-

Other debtors

1,714

3,225

1,737

3,225

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

16,808

17,455

Trade creditors

54

956

Taxation and social security

6,000

6,581

Other creditors

12,710

3,264

35,572

28,256

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

27,083

27,083

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2,600

Ordinary shares

£1

2,600

2,600