REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Stimpson Direct Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Stimpson Direct Limited |
Stimpson Direct Limited (Registered number: 04001553) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Stimpson Direct Limited (Registered number: 04001553) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Stimpson Direct Limited (Registered number: 04001553) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Stimpson Direct Limited (Registered number: 04001553) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | Statutory information |
Stimpson Direct Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rental and associated services during the period. |
Investment property |
Investment properties are measured at their fair value at the balance sheet date. The open market value of the properties is assumed to be the fair value. The surplus or deficit on the fair value adjustment is recognised in the profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. |
Stimpson Direct Limited (Registered number: 04001553) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Investment property |
Total |
£ |
Fair value |
At 1 June 2022 |
Revaluations | (9,702 | ) |
At 31 May 2023 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
The investment properties have been fair valued by the directors based on the open market values of similar properties. |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Stimpson Direct Limited (Registered number: 04001553) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
8. | Reserves |
Fair |
value |
reserve |
£ |
At 1 June 2022 |
Transfer | (46,028 | ) |
At 31 May 2023 |
9. | Related party disclosures |
At the year end, the company owed the directors an amount of £1,044,135 (2022: £1,188,591). |