Silverfin false 31/01/2023 01/02/2022 31/01/2023 Susan Gay Adams 21/10/2015 John Keith Boneham 21/10/2015 Sally Anne Murton 21/10/2015 23 October 2023 The principal activity of the Company was that land development, however the directors have now concluded that they intend to hold the property as a long term investment. 09834339 2023-01-31 09834339 bus:Director1 2023-01-31 09834339 bus:Director2 2023-01-31 09834339 bus:Director3 2023-01-31 09834339 2022-01-31 09834339 core:CurrentFinancialInstruments 2023-01-31 09834339 core:CurrentFinancialInstruments 2022-01-31 09834339 core:ShareCapital 2023-01-31 09834339 core:ShareCapital 2022-01-31 09834339 core:RetainedEarningsAccumulatedLosses 2023-01-31 09834339 core:RetainedEarningsAccumulatedLosses 2022-01-31 09834339 core:PlantMachinery 2022-01-31 09834339 core:PlantMachinery 2023-01-31 09834339 core:CostValuation 2022-01-31 09834339 core:CostValuation 2023-01-31 09834339 2022-02-01 2023-01-31 09834339 bus:FullAccounts 2022-02-01 2023-01-31 09834339 bus:SmallEntities 2022-02-01 2023-01-31 09834339 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09834339 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09834339 bus:Director1 2022-02-01 2023-01-31 09834339 bus:Director2 2022-02-01 2023-01-31 09834339 bus:Director3 2022-02-01 2023-01-31 09834339 core:PlantMachinery core:TopRangeValue 2022-02-01 2023-01-31 09834339 2021-02-01 2022-01-31 09834339 core:PlantMachinery 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Company No: 09834339 (England and Wales)

STUBBYGROVE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

STUBBYGROVE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

STUBBYGROVE PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2023
STUBBYGROVE PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTORS Susan Gay Adams
John Keith Boneham
Sally Anne Murton
REGISTERED OFFICE Goodwood House
Blackbrook Park Avenue
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 09834339 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
STUBBYGROVE PROPERTIES LIMITED

BALANCE SHEET

As at 31 January 2023
STUBBYGROVE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 31,030 501
Investment property 4 880,000 0
Investments 5 50 50
911,080 551
Current assets
Stocks 6 0 935,539
Debtors 7 20,975 3,037
Cash at bank and in hand 91,794 115,750
112,769 1,054,326
Creditors: amounts falling due within one year 8 ( 911,422) ( 892,988)
Net current (liabilities)/assets (798,653) 161,338
Total assets less current liabilities 112,427 161,889
Net assets 112,427 161,889
Capital and reserves
Called-up share capital 400 400
Profit and loss account 112,027 161,489
Total shareholders' funds 112,427 161,889

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Stubbygrove Properties Limited (registered number: 09834339) were approved and authorised for issue by the Board of Directors on 23 October 2023. They were signed on its behalf by:

John Keith Boneham
Director
STUBBYGROVE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
STUBBYGROVE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stubbygrove Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover represents amounts receivable for the sale of land.

Other income relates to rent and service charges net of VAT which are recognised in the period to which they relate.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade and other 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.

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 and other creditors

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

Ordinary 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 February 2022 6,055 6,055
Additions 31,350 31,350
At 31 January 2023 37,405 37,405
Accumulated depreciation
At 01 February 2022 5,554 5,554
Charge for the financial year 821 821
At 31 January 2023 6,375 6,375
Net book value
At 31 January 2023 31,030 31,030
At 31 January 2022 501 501

4. Investment property

Investment property
£
Valuation
As at 01 February 2022 0
Transfers to and from inventories 880,000
As at 31 January 2023 880,000

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 February 2022 50
At 31 January 2023 50
Carrying value at 31 January 2023 50
Carrying value at 31 January 2022 50

6. Stocks

2023 2022
£ £
Work in progress 0 935,539

7. Debtors

2023 2022
£ £
Trade debtors 5,804 0
Other debtors 15,171 3,037
20,975 3,037

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 42,391 4,599
Amounts owed to Group undertakings 50 50
Corporation tax ( 17,246) 6,034
Other creditors 886,227 882,305
911,422 892,988