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Registration number: 06465782

Stammers Properties Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 March 2023

 

Stammers Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Stammers Properties Limited

Company Information

Director

Mr G F Stammers

Company secretary

Mr A G Stammers

Registered office

64 Brook Street
Aberaman
Aberdare
Mid Glamorgan
CF44 8YD

 

Accountants

WJ James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Stammers Properties Limited

(Registration number: 06465782)

Balance Sheet
as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

400,000

335,500

Current assets

 

Debtors

6

4,989

95

Cash at bank and in hand

 

8,109

4,642

 

13,098

4,737

Creditors: Amounts falling due within one year

7

(231,879)

(230,001)

Net current liabilities

 

(218,781)

(225,264)

Total assets less current liabilities

 

181,219

110,236

Provisions for liabilities

(10,611)

-

Net assets

 

170,608

110,236

Capital and reserves

 

Called up share capital

100

100

Other reserves

82,239

28,350

Profit and loss account

88,269

81,786

Total equity

 

170,608

110,236

For the financial year ending 31 March 2023 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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

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.

 

Stammers Properties Limited

(Registration number: 06465782)

Balance Sheet
as at 31 March 2023

Approved and authorised by the director on 11 October 2023
 

.........................................

Mr G F Stammers

Director

 

Stammers Properties Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

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:
64 Brook Street
Aberaman
Aberdare
Mid Glamorgan
CF44 8YD
Wales

These financial statements were authorised for issue by the director on 11 October 2023.

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 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 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Revenue recognition

Turnover represents rent received in respect of the company's investment properties. Turnover is recognised to the extent that there is a right to consideration under the terms of the contracts.

Tax

The tax expense for the period comprises of 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 corporation 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.

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.

 

Stammers Properties Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

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

Plant and machinery

25% on cost

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 1 (2022 - 1).

 

Stammers Properties Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

462

462

At 31 March 2023

462

462

Depreciation

At 1 April 2022

462

462

At 31 March 2023

462

462

Carrying amount

At 31 March 2023

-

-

5

Investment properties

2023
£

At 1 April

335,500

Fair value adjustments

64,500

At 31 March

400,000

The investment properties class of fixed assets was revalued on 31 March 2023 by the director, who is internal to the company. The basis of this valuation was open market valuation. This class of assets has a current value of £400,000 (2022 - £335,500) and a carrying amount at historical cost of £307,150 (2022 - £307,150). The depreciation on this historical cost is £Nil (2022 - £Nil).

6

Debtors

2023
£

2022
£

Prepayments

82

95

Other debtors

4,907

-

4,989

95

 

Stammers Properties Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

840

792

Other creditors

231,039

229,209

231,879

230,001