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Registration number: 13937512

Stanwell Property Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Stanwell Property Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Stanwell Property Group Ltd

Company Information

Director

Mr Justin Russell Weller

Registered office

14 Mill Road
Billericay
Essex
CM11 2SF

Accountants

Property Tax Advice Ltd
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Stanwell Property Group Ltd

(Registration number: 13937512)
Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

1,845

Investment property

925,000

 

926,845

Current assets

 

Debtors

6

273,161

Cash at bank and in hand

 

19,746

 

292,907

Creditors: Amounts falling due within one year

7

(1,104,074)

Net current liabilities

 

(811,167)

Total assets less current liabilities

 

115,678

Provisions for liabilities

(64,385)

Net assets

 

51,293

Capital and reserves

 

Called up share capital

1,000

Revaluation reserve

274,484

Retained earnings

(224,191)

Shareholders' funds

 

51,293

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

Approved and authorised by the director on 20 November 2023
 

.........................................
Mr Justin Russell Weller
Director

 

Stanwell Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
14 Mill Road
Billericay
Essex
CM11 2SF

These financial statements were authorised for issue by the director on 20 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Stanwell Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1.

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

Depreciation expense

615

 

Stanwell Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,460

2,460

At 28 February 2023

2,460

2,460

Depreciation

Charge for the year

615

615

At 28 February 2023

615

615

Carrying amount

At 28 February 2023

1,845

1,845

6

Debtors

Current

2023
£

Other debtors

273,161

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

9

740,000

Other creditors

 

364,074

 

1,104,074

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Stanwell Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

8

Reserves (continued)

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

274,484

274,484

9

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

740,000