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REGISTERED NUMBER: 05178558 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

STALET PROPERTIES LIMITED

STALET PROPERTIES LIMITED (REGISTERED NUMBER: 05178558)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


STALET PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: P S Sharples





REGISTERED OFFICE: 207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL





REGISTERED NUMBER: 05178558 (England and Wales)





ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL

STALET PROPERTIES LIMITED (REGISTERED NUMBER: 05178558)

ABRIDGED BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 284,619 170,067

CURRENT ASSETS
Debtors 1,019 742
Cash at bank 8,057 23,859
9,076 24,601
CREDITORS
Amounts falling due within one year 28,000 1,200
NET CURRENT (LIABILITIES)/ASSETS (18,924 ) 23,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,695

193,468

CREDITORS
Amounts falling due after more than one year 194,260 120,000
NET ASSETS 71,435 73,468

CAPITAL AND RESERVES
Called up share capital 500 500
Revaluation reserve 6 49,952 49,952
Capital redemption reserve 500 500
Retained earnings 20,483 22,516
SHAREHOLDERS' FUNDS 71,435 73,468

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 director acknowledges his 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.

STALET PROPERTIES LIMITED (REGISTERED NUMBER: 05178558)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





P S Sharples - Director


STALET PROPERTIES LIMITED (REGISTERED NUMBER: 05178558)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Stalet 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on cost

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.

Investment property
The property is considered to be investment property as defined in FRS 102.

The investment property is included at fair value and gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The property is revalued annually and the surplus or deficit transferred to a fair value reserve as defined under the fair value provisions of CA 2006.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

STALET PROPERTIES LIMITED (REGISTERED NUMBER: 05178558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2022 170,729
Additions 114,645
At 31 March 2023 285,374
DEPRECIATION
At 1 April 2022 662
Charge for year 93
At 31 March 2023 755
NET BOOK VALUE
At 31 March 2023 284,619
At 31 March 2022 170,067

Cost or valuation at 31 March 2023 is represented by:

Totals
£   
Valuation in 2019 49,952
Cost 235,422
285,374

The property at 4 Warlow Drive was valued at £169,950 by external valuers, Cooke & Company, Estate Agents, as at the 11 March 2019 on the basis of current market value subject to the existing occupational leases. The Directors have not requested a further valuation due to the undue cost and time involved in obtaining one. Using a similar basis for valuing the properties and market knowledge they consider them to be at the same value as the previous valuation.

5. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Other loans 194,260 120,000

6. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 49,952

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the director Mr P S Sharples made an unsecured interest free loan available to the company with no fixed repayment terms. At the year end the balance was £11,300 (2022 : £NIL).