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Registration number: 13691184

Stinders Homes SPV 1 Limited

Unaudited Financial Statements

for the Period from 20 October 2021 to 31 March 2023

 

Stinders Homes SPV 1 Limited

Contents

Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 5

 

Stinders Homes SPV 1 Limited

(Registration number: 13691184)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Stocks

4

8,512,608

Debtors

5

142,978

Cash at bank and in hand

 

7,870

 

8,663,456

Creditors: Amounts falling due within one year

6

(8,622,414)

Net assets

 

41,042

Capital and reserves

 

Called up share capital

1

Profit and loss account

41,041

Shareholders' funds

 

41,042

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Ms JE Ismail
Director

 

Stinders Homes SPV 1 Limited

Statement of Changes in Equity for the Period from 20 October 2021 to 31 March 2023

Share capital
£

Profit and loss account
£

Total
£

At 20 October 2021

1

-

1

Profit for the period

-

41,041

41,041

Total comprehensive income

-

41,041

41,041

At 31 March 2023

1

41,041

41,042

 

Stinders Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 20 October 2021 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Stinders Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 20 October 2021 to 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Stocks

2023
£

Work in progress

8,512,608

5

Debtors

2023
£

Owed by group undertakings

30

Prepayments

3,402

Other debtors

139,546

142,978

 

Stinders Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 20 October 2021 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

222,873

Owed to group undertakings

7,284,447

Taxation and social security

39,938

Accruals and deferred income

1,074,156

Other creditors

1,000

8,622,414

Included within Owed to group undertakings is £7,284,447 in relation to a loan which is secured by fixed and floating charge dated 7 March 2022 over all the property or undertaking of the company and the property known as the land at Crossroads, Main Road, Quadring, Spalding, Lincolnshire.

7

Parent and ultimate parent undertaking

The immediate parent company is Stinders Homes Limited. The share capital of Stinders Homes Limited is owned equally by Salboy Partnerships Limited and Steven Stinders. There is no ultimate controlling party.

Salboy Partnerships is a company incorporated in England and Wales, company number 13626842, registered office 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, WA3 7PQ.