W J Stile Limited 04840518 false 2021-08-01 2022-07-31 2022-07-31 The principal activity of the company is the provision of goods and loan services Digita Accounts Production Advanced 6.30.9574.0 true 04840518 2021-08-01 2022-07-31 04840518 2022-07-31 04840518 bus:OrdinaryShareClass1 2022-07-31 04840518 core:CurrentFinancialInstruments 2022-07-31 04840518 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 04840518 core:OfficeEquipment 2022-07-31 04840518 bus:SmallEntities 2021-08-01 2022-07-31 04840518 bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 04840518 bus:AbridgedAccounts 2021-08-01 2022-07-31 04840518 bus:SmallCompaniesRegimeForAccounts 2021-08-01 2022-07-31 04840518 bus:RegisteredOffice 2021-08-01 2022-07-31 04840518 bus:Director1 2021-08-01 2022-07-31 04840518 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 04840518 bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 04840518 bus:Agent1 2021-08-01 2022-07-31 04840518 core:Goodwill 2021-08-01 2022-07-31 04840518 core:OfficeEquipment 2021-08-01 2022-07-31 04840518 countries:EnglandWales 2021-08-01 2022-07-31 04840518 2021-07-31 04840518 core:OfficeEquipment 2021-07-31 04840518 2020-08-01 2021-07-31 04840518 2021-07-31 04840518 bus:OrdinaryShareClass1 2021-07-31 04840518 core:CurrentFinancialInstruments 2021-07-31 04840518 core:CurrentFinancialInstruments core:WithinOneYear 2021-07-31 04840518 core:OfficeEquipment 2021-07-31 04840518 bus:OrdinaryShareClass1 2020-08-01 2021-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04840518

W J Stile Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2022

 

W J Stile Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

W J Stile Limited

Company Information

Director

Mr R E Baker

Registered office

The Mews
Queen Street
Colyton
Devon
EX24 6JU

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
W J Stile Limited
for the Year Ended 31 July 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of W J Stile Limited for the year ended 31 July 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of W J Stile Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2006. Our work has been undertaken solely to prepare for your approval the accounts of W J Stile Limited and state those matters that we have agreed to state to the Board of Directors of W J Stile Limited, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W J Stile Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that W J Stile Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of W J Stile Limited. You consider that W J Stile Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of W J Stile Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

12 September 2022

 

W J Stile Limited

(Registration number: 04840518)
Abridged Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

8

11

Current assets

 

Debtors

6

17,357

14,528

Cash at bank and in hand

 

9,168

17,741

 

26,525

32,269

Creditors: Amounts falling due within one year

(19,620)

(24,668)

Net current assets

 

6,905

7,601

Total assets less current liabilities

 

6,913

7,612

Provisions for liabilities

(2)

(2)

Accruals and deferred income

 

(1,223)

(1,223)

Net assets

 

5,688

6,387

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

5,686

6,385

Shareholders' funds

 

5,688

6,387

For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

W J Stile Limited

(Registration number: 04840518)
Abridged Balance Sheet as at 31 July 2022

Approved and authorised by the director on 12 September 2022
 

.........................................
Mr R E Baker
Director

 

W J Stile Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Mews
Queen Street
Colyton
Devon
EX24 6JU
England

The principal place of business is:
Stonehaven
Warren Lane
Torrington
Devon
EX38 8AG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

W J Stile Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing Balance Basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

W J Stile Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

 

W J Stile Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2022

4

Intangible assets

Total
£

Cost or valuation

At 1 August 2021

7,500

At 31 July 2022

7,500

Amortisation

At 1 August 2021

7,500

At 31 July 2022

7,500

Carrying amount

At 31 July 2022

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2021

831

831

At 31 July 2022

831

831

Depreciation

At 1 August 2021

820

820

Charge for the year

3

3

At 31 July 2022

823

823

Carrying amount

At 31 July 2022

8

8

At 31 July 2021

11

11

6

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

 

W J Stile Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £2,000.00 per each Ordinary Shares

 

4,000

 

4,000