Stirling Personal Development Ltd
Registered number: 13272870
Statement of Financial Position
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,995 8,995
Tangible assets 4 495 660
8,490 9,655
Current assets
Cash at bank and in hand 423 1,695
Creditors: amounts falling due within one year 5 (26,069) (20,700)
Net current liabilities (25,646) (19,005)
Net liabilities (17,156) (9,350)
Capital and reserves
Called up share capital 2 2
Profit and loss account (17,158) (9,352)
Shareholders' funds (17,156) (9,350)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Cromwell
Director
Approved by the board on 2 October 2023
Stirling Personal Development Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 2 2
3 Intangible fixed assets £
Franchise fee:
Cost
At 1 April 2022 9,995
At 31 March 2023 9,995
Amortisation
At 1 April 2022 1,000
Provided during the year 1,000
At 31 March 2023 2,000
Net book value
At 31 March 2023 7,995
At 31 March 2022 8,995
The franchise fee is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 880
At 31 March 2023 880
Depreciation
At 1 April 2022 220
Charge for the year 165
At 31 March 2023 385
Net book value
At 31 March 2023 495
At 31 March 2022 660
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 40 668
Accruals 1,002 835
Other taxes and social security costs - 45
Other creditors 25,027 19,152
26,069 20,700
6 Other information
Stirling Personal Development Ltd is a private company limited by shares and incorporated in England. Its registered office is:
30 The Maultway
Camberley
Surrey
GU15 1PS
Stirling Personal Development Ltd 13272870 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 C Cromwell No description of principal activity 13272870 2021-03-17 2022-03-31 13272870 core:WithinOneYear 2022-03-31 13272870 core:ShareCapital 2022-03-31 13272870 core:RetainedEarningsAccumulatedLosses 2022-03-31 13272870 2022-04-01 2023-03-31 13272870 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13272870 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13272870 bus:Director40 2022-04-01 2023-03-31 13272870 2 2022-04-01 2023-03-31 13272870 core:Goodwill 2022-04-01 2023-03-31 13272870 core:PlantMachinery 2022-04-01 2023-03-31 13272870 countries:England 2022-04-01 2023-03-31 13272870 bus:FRS102 2022-04-01 2023-03-31 13272870 bus:FullAccounts 2022-04-01 2023-03-31 13272870 2023-03-31 13272870 core:WithinOneYear 2023-03-31 13272870 core:ShareCapital 2023-03-31 13272870 core:RetainedEarningsAccumulatedLosses 2023-03-31 13272870 core:Goodwill 2023-03-31 13272870 core:PlantMachinery 2023-03-31 13272870 2022-03-31 13272870 core:Goodwill 2022-03-31 13272870 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure