Company registration number 06938343
Stephen Dalton & Co Ltd
Financial Statements
For the year ended
30 June 2022
Pages for filing with registrar
Stephen Dalton & Co Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Stephen Dalton & Co Ltd
Statement Of Financial Position
As at 30 June 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
14,557
21,461
Current assets
Debtors
5
37,164
40,943
Cash at bank and in hand
107,597
143,758
144,761
184,701
Creditors: amounts falling due within one year
6
(24,280)
(25,347)
Net current assets
120,481
159,354
Net assets
135,038
180,815
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
134,938
180,715
Total equity
135,038
180,815
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 7 December 2022
S. Dalton
Director
Company Registration No. 06938343
Stephen Dalton & Co Ltd
Notes To The Financial Statements
For the year ended 30 June 2022
- 2 -
1
General information
Stephen Dalton & Co Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
8 Chadwick Place, Long Ditton, Surbiton, Surrey, KT6 5RE.
2
Accounting policies
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
2.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% straight line
Equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
2.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stephen Dalton & Co Ltd
Notes To The Financial Statements (Continued)
For the year ended 30 June 2022
2
Accounting policies
(Continued)
- 3 -
2.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities
are
initially recognised at transaction price
and
are subsequently carried at amortised cost, using the effective
interest rate method.
Financial liabilities classified as payable within one year are not amortised.
2.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.8
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
Stephen Dalton & Co Ltd
Notes To The Financial Statements (Continued)
For the year ended 30 June 2022
- 4 -
4
Tangible fixed assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 July 2021 and 30 June 2022
35,022
6,552
41,574
Depreciation and impairment
At 1 July 2021
14,045
6,068
20,113
Depreciation charged in the year
6,624
280
6,904
At 30 June 2022
20,669
6,348
27,017
Carrying amount
At 30 June 2022
14,353
204
14,557
At 30 June 2021
20,977
484
21,461
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
31,182
23,015
Other debtors
5,982
17,928
37,164
40,943
6
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
12,546
11,592
Other taxation and social security
8,259
10,841
Other creditors
3,475
2,914
24,280
25,347