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COMPANY REGISTRATION NUMBER: 10841188
Stonecastle Investments Limited
Filleted unaudited financial statements
30 November 2021
Stonecastle Investments Limited
Statement of financial position
30 November 2021
2021
2020
Note
£
£
£
Current assets
Debtors
5
298
Cash at bank and in hand
770
729
------
----
1,068
729
Creditors: amounts falling due within one year
6
( 6,676)
( 4,905)
------
------
Net current liabilities
( 5,608)
( 4,176)
------
------
Total assets less current liabilities
( 5,608)
( 4,176)
------
------
Net liabilities
( 5,608)
( 4,176)
------
------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 5,708)
( 4,276)
------
------
Shareholders funds
( 5,608)
( 4,176)
------
------
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 income statement has not been delivered.
For the year ending 30 November 2021 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 12 August 2022 , and are signed on behalf of the board by:
Mr D Pickles
Director
Company registration number: 10841188
Stonecastle Investments Limited
Notes to the financial statements
year ended 30 November 2021
1. General information
The principal activity of the company is the rental of residential property and holiday lets. The company is a private limited company, which is incorporated in England and Wales (no 10841188 ). The address of the registered office is 22 Westfield Grove, Ackworth, Pontefract, WF7 7HF.
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, and in accordance with applicable accounting standards. The financial statements are prepared in sterling, which is the functional currency of the entity.
Rental income
Rental income is measured at the fair value of the consideration received or receivable.
Going concern
The financial statements have been prepared on the basis that the company can continue to operate as a going concern. The director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its operations over the next 12 months. This conclusion was made having considered the impact of the worldwide Covid-19 pandemic on future operations. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2.
5. Debtors
2021
2020
£
£
Other debtors
298
----
----
6. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
1,003
Amounts owed to group undertakings
5,326
2,552
Accruals and deferred income
1,350
1,350
------
------
6,676
4,905
------
------
7. Controlling party
The company was under the control of Stonecastle Homes Limited, a company registered in England, throughout the period.