STAVCO CONSTRUCTION LIMITED |
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BALANCE SHEET |
AS AT 5 APRIL 2023 |
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These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities. |
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For the financial year ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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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. |
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. |
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Signed on behalf of the board |
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N C Staveley |
Director |
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Date approved by the board: 7 November 2023 |
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STAVCO CONSTRUCTION LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
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1 |
GENERAL INFORMATION |
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Stavco Construction Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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Cranbrook House |
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287-291 Banbury Road |
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Oxford |
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OX2 7JQ |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006. |
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Revenue recognition |
STAVCO CONSTRUCTION LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
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5 |
FIXED ASSET INVESTMENTS |
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Investment properties |
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£ |
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Cost |
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At 6 April 2022 |
4,325,000 |
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At 5 April 2023 |
4,325,000 |
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Net book value |
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At 6 April 2022 |
4,325,000 |
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At 5 April 2023 |
4,325,000 |
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In the opinion of the director, all investment properties have been stated at fair value. |
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6 |
DEBTORS |
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2023 |
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2022 |
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£ |
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£ |
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Prepayments and accrued income |
4,361 |
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1,155 |
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Other debtors |
44,010 |
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29,942 |
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48,371 |
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31,097 |
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7 |
CREDITORS: Amounts falling due within one year |
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2023 |
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2022 |
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£ |
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£ |
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Taxation and social security |
16,013 |
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24,405 |
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Accruals and deferred income |
22,740 |
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12,153 |
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Other creditors |
2,052 |
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1,924 |
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40,805 |
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38,482 |
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8 |
CREDITORS: Amounts falling due after more than one year |
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2023 |
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2022 |
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£ |
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£ |
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Bank loans and overdrafts |
1,987,500 |
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1,987,500 |
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Other creditors |
300,000 |
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300,000 |
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2,287,500 |
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2,287,500 |
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STAVCO CONSTRUCTION LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
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9 |
SECURED DEBTS |
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The company has two bank loans with Handelsbanken which are secured on the properties of the company. The loans will be repaid in full on the fifth anniversary of the date of the drawdown of the loans and interest is paid on the loans quarterly at a 2.75% margin over LIBOR. |
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10 |
CONTINGENCIES AND COMMITMENTS |
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Not provided |
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Deferred Taxation |
2023 |
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2022 |
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£ |
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£ |
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Losses |
7,009 |
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5,327 |
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Balance carried forward |
7,009 |
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5,327 |
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11 |
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following director's advances, credits and guarantees took place during the year: |
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Balance at 1 May 2022 |
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Amounts advanced |
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Amounts repaid |
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Amounts written off or waived |
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Balance at 5 April 2023 |
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£ |
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£ |
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£ |
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£ |
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£ |
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N C Staveley |
19,594 |
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67,638 |
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53,068 |
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- |
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34,164 |
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