Company registration number 05266203 (England and Wales)
STAIR SAINTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
STAIR SAINTY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STAIR SAINTY LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2022
31 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
31,108
37,402
Current assets
Stocks
1,631,344
1,663,029
Debtors
4
366,763
321,687
Cash at bank and in hand
-
0
8,127
1,998,107
1,992,843
Creditors: amounts falling due within one year
5
(1,452,534)
(1,576,179)
Net current assets
545,573
416,664
Total assets less current liabilities
576,681
454,066
Creditors: amounts falling due after more than one year
6
(1,081,587)
(1,024,299)
Net liabilities
(504,906)
(570,233)
Capital and reserves
Called up share capital
7
200,002
200,002
Profit and loss reserves
(704,908)
(770,235)
Total equity
(504,906)
(570,233)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

STAIR SAINTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2022
31 October 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 October 2023
Mr G S Sainty
Director
Company Registration No. 05266203
STAIR SAINTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
- 3 -
1
Accounting policies
Company information

Stair Sainty Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Cromwell Place, London, SW7 2JE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future due to the continued support from the director.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over

their useful lives on the following bases:

Plant and equipment
10% Straight Line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

STAIR SAINTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

STAIR SAINTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
3
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2021 and 31 October 2022
88,815
Depreciation and impairment
At 1 November 2021
51,413
Depreciation charged in the year
6,294
At 31 October 2022
57,707
Carrying amount
At 31 October 2022
31,108
At 31 October 2021
37,402
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
216,229
289,450
Other debtors
150,534
32,237
366,763
321,687
STAIR SAINTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 6 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
37,163
32,154
Trade creditors
585,845
681,132
Taxation and social security
53,701
30,442
Other creditors
775,825
832,451
1,452,534
1,576,179
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
28,333
38,333
Other creditors
1,053,254
985,966
1,081,587
1,024,299
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
200,001
200,001
200,001
200,001
Ordinary A Share of £1 each
1
1
1
1
200,002
200,002
200,002
200,002
9
Directors' transactions

 

Included in other creditors is an amount of £767,624 (2020: £967,032) due to the director of the company.

2022-10-312021-11-01false25 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr G Sainty052662032021-11-012022-10-31052662032022-10-31052662032021-10-3105266203core:OtherPropertyPlantEquipment2022-10-3105266203core:OtherPropertyPlantEquipment2021-10-3105266203core:CurrentFinancialInstrumentscore:WithinOneYear2022-10-3105266203core:CurrentFinancialInstrumentscore:WithinOneYear2021-10-3105266203core:Non-currentFinancialInstrumentscore:AfterOneYear2022-10-3105266203core:Non-currentFinancialInstrumentscore:AfterOneYear2021-10-3105266203core:CurrentFinancialInstruments2022-10-3105266203core:CurrentFinancialInstruments2021-10-3105266203core:Non-currentFinancialInstruments2022-10-3105266203core:Non-currentFinancialInstruments2021-10-3105266203core:ShareCapital2022-10-3105266203core:ShareCapital2021-10-3105266203core:RetainedEarningsAccumulatedLosses2022-10-3105266203core:RetainedEarningsAccumulatedLosses2021-10-3105266203core:ShareCapitalOrdinaryShares2022-10-3105266203core:ShareCapitalOrdinaryShares2021-10-3105266203bus:Director12021-11-012022-10-3105266203core:PlantMachinery2021-11-012022-10-31052662032020-11-012021-10-3105266203core:OtherPropertyPlantEquipment2021-10-3105266203core:OtherPropertyPlantEquipment2021-11-012022-10-3105266203core:WithinOneYear2022-10-3105266203core:WithinOneYear2021-10-3105266203bus:PrivateLimitedCompanyLtd2021-11-012022-10-3105266203bus:SmallCompaniesRegimeForAccounts2021-11-012022-10-3105266203bus:FRS1022021-11-012022-10-3105266203bus:AuditExemptWithAccountantsReport2021-11-012022-10-3105266203bus:FullAccounts2021-11-012022-10-31xbrli:purexbrli:sharesiso4217:GBP