Registered number
11241135
I & M Stamford Properties Ltd
Filleted Accounts
31 March 2023
I & M Stamford Properties Ltd
Registered number: 11241135
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,997 4,030
Tangible assets 4 541 565
3,538 4,595
Current assets
Debtors 5 34,932 25,184
Cash at bank and in hand 3,784 2,384
38,716 27,568
Creditors: amounts falling due within one year 6 (18,427) (13,919)
Net current assets 20,289 13,649
Total assets less current liabilities 23,827 18,244
Provisions for liabilities (103) -
Net assets 23,724 18,244
Capital and reserves
Called up share capital 100 100
Profit and loss account 23,624 18,144
Shareholders' funds 23,724 18,244
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 and delivered 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.
Mr Ian Stamford
Director
Approved by the board on 5 October 2023
I & M Stamford Properties 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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 6,076
At 31 March 2023 6,076
Amortisation
At 1 April 2022 2,046
Provided during the year 1,033
At 31 March 2023 3,079
Net book value
At 31 March 2023 2,997
At 31 March 2022 4,030
Goodwill is being written off in equal annual instalments over its estimated economic life of 6 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 908
Additions 157
At 31 March 2023 1,065
Depreciation
At 1 April 2022 343
Charge for the year 181
At 31 March 2023 524
Net book value
At 31 March 2023 541
At 31 March 2022 565
5 Debtors 2023 2022
£ £
Other debtors 34,932 25,184
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,877 3,360
Other creditors 14,550 10,559
18,427 13,919
7 Related party transactions
At the period end, the company was owed £33,790 (2022: £24,626) by Mr Ian Fredrick Stamford and Mrs Marilyn stamford, directors. The loan is interest bearing at 2% and repayable on demand
8 Controlling party
The company is ultimately controlled by Mr Ian Fredrick Stamford and Mrs Marilyn Stamford, directors, who together own 50% of the issued share capital
9 Other information
I & M Stamford Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
I & M Stamford Properties Ltd 11241135 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Mr Ian Stamford No description of principal activity 11241135 2021-04-01 2022-03-31 11241135 core:WithinOneYear 2022-03-31 11241135 core:ShareCapital 2022-03-31 11241135 core:RetainedEarningsAccumulatedLosses 2022-03-31 11241135 2022-04-01 2023-03-31 11241135 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11241135 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11241135 bus:Director40 2022-04-01 2023-03-31 11241135 1 2022-04-01 2023-03-31 11241135 2 2022-04-01 2023-03-31 11241135 core:Goodwill 2022-04-01 2023-03-31 11241135 core:PlantMachinery 2022-04-01 2023-03-31 11241135 countries:England 2022-04-01 2023-03-31 11241135 bus:FRS102 2022-04-01 2023-03-31 11241135 bus:FullAccounts 2022-04-01 2023-03-31 11241135 2023-03-31 11241135 core:WithinOneYear 2023-03-31 11241135 core:ShareCapital 2023-03-31 11241135 core:RetainedEarningsAccumulatedLosses 2023-03-31 11241135 core:Goodwill 2023-03-31 11241135 core:PlantMachinery 2023-03-31 11241135 2022-03-31 11241135 core:Goodwill 2022-03-31 11241135 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure