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REGISTERED NUMBER: 03853680 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Stopford Properties Limited

Stopford Properties Limited (Registered number: 03853680)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stopford Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K M Chown
Mrs K S Chown





SECRETARY: K M Chown





REGISTERED OFFICE: 175 Woodhall Way
Beverley
East Yorkshire
HU17 7JU





REGISTERED NUMBER: 03853680 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Stopford Properties Limited (Registered number: 03853680)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 710,248 947,281

CURRENT ASSETS
Debtors 5 563 -
Cash at bank 1,585 988
2,148 988
CREDITORS
Amounts falling due within one year 6 244,772 467,611
NET CURRENT LIABILITIES (242,624 ) (466,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,624

480,658

PROVISIONS FOR LIABILITIES 66,013 88,443
NET ASSETS 401,611 392,215

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 347,438 465,489
Retained earnings 54,073 (73,374 )
SHAREHOLDERS' FUNDS 401,611 392,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2023 and were signed on its behalf by:





Mrs K S Chown - Director


Stopford Properties Limited (Registered number: 03853680)

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

1. STATUTORY INFORMATION

Stopford Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment properties are included in the balance sheet at their open market value at the balance sheet date on the basis of a professional valuation.

Depreciation is not provided on investment properties. This treatment may be a departure from the the requirements of the Companies Act concerning depreciation of fixed assets. However these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy is therefore necessary for the accounts to give a true and fair view. The depreciation that would have otherwise been shown cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Stopford Properties Limited (Registered number: 03853680)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 947,000 13,078 419 960,497
Additions - - 90 90
Disposals (237,000 ) - - (237,000 )
At 31 March 2023 710,000 13,078 509 723,587
DEPRECIATION
At 1 April 2022 - 13,078 138 13,216
Charge for year - - 123 123
At 31 March 2023 - 13,078 261 13,339
NET BOOK VALUE
At 31 March 2023 710,000 - 248 710,248
At 31 March 2022 947,000 - 281 947,281

The freehold property was revalued in 2022 to the current open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 563 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Tax 11,424 2,003
Social security and other taxes (59 ) (105 )
Directors' current accounts 232,657 464,613
Accrued expenses 750 1,100
244,772 467,611

7. RESERVES
Fair
value
reserve
£   
At 1 April 2022 465,489
Revaluation reserve (118,051 )

At 31 March 2023 347,438