Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3142022-04-01false4truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01977819 2022-04-01 2023-03-31 01977819 2021-04-01 2022-03-31 01977819 2023-03-31 01977819 2022-03-31 01977819 2021-04-01 01977819 1 2022-04-01 2023-03-31 01977819 1 2021-04-01 2022-03-31 01977819 2 2022-04-01 2023-03-31 01977819 2 2021-04-01 2022-03-31 01977819 3 2022-04-01 2023-03-31 01977819 3 2021-04-01 2022-03-31 01977819 4 2022-04-01 2023-03-31 01977819 4 2021-04-01 2022-03-31 01977819 d:CompanySecretary1 2022-04-01 2023-03-31 01977819 d:Director3 2022-04-01 2023-03-31 01977819 d:Director4 2022-04-01 2023-03-31 01977819 d:Director5 2022-04-01 2023-03-31 01977819 d:Director6 2022-04-01 2023-03-31 01977819 d:RegisteredOffice 2022-04-01 2023-03-31 01977819 e:FreeholdInvestmentProperty 2022-04-01 2023-03-31 01977819 e:FreeholdInvestmentProperty 2023-03-31 01977819 e:FreeholdInvestmentProperty 2022-03-31 01977819 e:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 01977819 e:CurrentFinancialInstruments 2023-03-31 01977819 e:CurrentFinancialInstruments 2022-03-31 01977819 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 01977819 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 01977819 e:UKTax 2022-04-01 2023-03-31 01977819 e:UKTax 2021-04-01 2022-03-31 01977819 e:ShareCapital 2022-04-01 2023-03-31 01977819 e:ShareCapital 2023-03-31 01977819 e:ShareCapital 2021-04-01 2022-03-31 01977819 e:ShareCapital 2022-03-31 01977819 e:ShareCapital 2021-04-01 01977819 e:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2023-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 1 2022-04-01 2023-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2 2022-04-01 2023-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 3 2022-04-01 2023-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2021-04-01 2022-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2022-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2021-04-01 01977819 e:InvestmentPropertiesRevaluationReserve 1 2021-04-01 2022-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 2 2021-04-01 2022-03-31 01977819 e:InvestmentPropertiesRevaluationReserve 3 2021-04-01 2022-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2023-03-31 01977819 e:RetainedEarningsAccumulatedLosses 1 2022-04-01 2023-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2 2022-04-01 2023-03-31 01977819 e:RetainedEarningsAccumulatedLosses 3 2022-04-01 2023-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2022-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2021-04-01 01977819 e:RetainedEarningsAccumulatedLosses 1 2021-04-01 2022-03-31 01977819 e:RetainedEarningsAccumulatedLosses 2 2021-04-01 2022-03-31 01977819 e:RetainedEarningsAccumulatedLosses 3 2021-04-01 2022-03-31 01977819 d:FRS102 2022-04-01 2023-03-31 01977819 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01977819 d:FullAccounts 2022-04-01 2023-03-31 01977819 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01977819 2 2022-04-01 2023-03-31 01977819 e:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01977819 e:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 01977819










STANLEY N EVANS (PROPERTIES) LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023



 
STANLEY N EVANS (PROPERTIES) LIMITED
 

COMPANY INFORMATION


DIRECTORS
Steven Parkinson 
David Pears 
Anthony Beaumont 
Marlene Parkinson 




REGISTERED NUMBER
01977819



REGISTERED OFFICE
Ground Floor
30 City Road

London

EC1Y 2AB





 
STANLEY N EVANS (PROPERTIES) LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Statement of Changes in Equity
5 - 6
Notes to the Financial Statements
7 - 14


 
STANLEY N EVANS (PROPERTIES) LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PRINCIPAL ACTIVITY

The principal activity of the company is property investment.

DIRECTORS

The directors who served during the year were:

Steven Parkinson 
David Pears 
Anthony Beaumont 
Marlene Parkinson 

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 27 November 2023 and signed on its behalf.
 



William Bennett
Secretary

Page 1

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
Note
£
£

  

Turnover
  
128,270
138,236

Cost of Sales
  
(6,455)
25,631

GROSS PROFIT
  
121,815
163,867

Administrative expenses
  
(32,166)
(32,066)

Profit on sale of investment properties
     3
1,612,129
1,303,810

Fair value movements
 6 
(722,044)
(556,643)

OPERATING PROFIT
  
979,734
878,968

Interest receivable and similar income
  
33,136
1,252

PROFIT BEFORE TAX
  
1,012,870
880,220

Tax on profit
 5 
(147,538)
(1,033,646)

PROFIT/(LOSS) FOR THE YEAR
  
865,332
(153,426)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
865,332
(153,426)

The notes on pages 7 to 14 form part of these financial statements.

Page 2

 
STANLEY N EVANS (PROPERTIES) LIMITED
REGISTERED NUMBER: 01977819

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Investment property
 6 
13,693,497
14,439,513

  
13,693,497
14,439,513

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
954,190
865,567

Cash at bank and in hand
  
1,774,010
1,379,287

  
2,728,200
2,244,854

Creditors: amounts falling due within one year
 8 
(1,236,127)
(1,077,542)

NET CURRENT ASSETS
  
 
 
1,492,073
 
 
1,167,312

TOTAL ASSETS LESS CURRENT LIABILITIES
  
15,185,570
15,606,825

PROVISIONS FOR LIABILITIES
  

Deferred taxation
 9 
(3,423,445)
(3,610,032)

  
 
 
(3,423,445)
 
 
(3,610,032)

NET ASSETS
  
11,762,125
11,996,793


CAPITAL AND RESERVES
  

Called up share capital 
  
2,000
2,000

Investment property revaluation reserve
 10 
10,157,315
10,716,462

Profit and loss account
 10 
1,602,810
1,278,331

TOTAL EQUITY
  
11,762,125
11,996,793


Page 3

 
STANLEY N EVANS (PROPERTIES) LIMITED
REGISTERED NUMBER: 01977819

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



David Pears
Director

Date: 27 November 2023

The notes on pages 7 to 14 form part of these financial statements.

Page 4

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
2,000
10,716,462
1,278,331
11,996,793


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
-
865,332
865,332

Transfer realised gains to retained earnings
-
(23,690)
23,690
-

Deferred tax movement
-
186,587
(186,587)
-

Transfer revaluation during the year
-
(722,044)
722,044
-


OTHER RESERVE MOVEMENTS FOR THE YEAR
-
(559,147)
559,147
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(559,147)
1,424,479
865,332

Dividends: Equity capital
-
-
(1,100,000)
(1,100,000)


AT 31 MARCH 2023
2,000
10,157,315
1,602,810
11,762,125


The notes on pages 7 to 14 form part of these financial statements.

Page 5

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
2,000
12,074,568
873,651
12,950,219


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year

-
-
(153,426)
(153,426)

Transfer realised gains to retained earnings
-
(50,420)
50,420
-

Deferred tax movement
-
(751,043)
751,043
-

Transfer revaluation during the year
-
(556,643)
556,643
-


OTHER RESERVE MOVEMENTS FOR THE YEAR
-
(1,358,106)
1,358,106
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(1,358,106)
1,204,680
(153,426)

Dividends: Equity capital
-
-
(800,000)
(800,000)


AT 31 MARCH 2022
2,000
10,716,462
1,278,331
11,996,793


The notes on pages 7 to 14 form part of these financial statements.

Page 6

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

1.


GENERAL INFORMATION

Stanley N Evans (Properties) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 30 City Road, London EC1Y 2AB. The principal place of business is Haskell House, 152 West End Lane, London NW6 1SD.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 other than where additional disclosure is required to show a true and fair view..

The company's functional and presentational currency is GBP and rounded to the nearest £1.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received on sales or ground rent receivable.

  
2.4

PROPERTY TRANSACTIONS

Purchases and sales of properties are included on the basis of completions occurring during the year.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 7

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

CREDITORS

Short term creditors are measured at the transaction price. 

Page 8

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.13

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying
Page 9

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.13
FINANCIAL INSTRUMENTS (CONTINUED)

amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 10

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


PROFIT ON SALE OF INVESTMENT PROPERTIES

2023
2022
£
£



Sale of investment properties
1,636,101
1,354,845

Historical cost
(282)
(615)

1,635,819
1,354,230



Prior years revaluation surplus realised
(23,690)
(50,420)

1,612,129
1,303,810


4.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
4
4


5.


TAXATION


2023
2022
£
£

CORPORATION TAX


Current tax on profits for the year
334,125
282,603


334,125
282,603


TOTAL CURRENT TAX
334,125
282,603


Deferred tax
(186,587)
751,043


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
147,538
1,033,646
Page 11

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
5.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2022 -higher than) the standard rate of corporation tax in the UK of 19% (2022 -19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
1,012,870
880,220


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 -19%)
192,445
167,242

EFFECTS OF:


Book profit on chargeable assets
(306,305)
(247,724)

Capital gains
310,797
257,323

Timing difference leading to a (decrease)/increase in taxation
(186,587)
751,043

Valuation losses not taxable
137,188
105,762

TOTAL TAX CHARGE FOR THE YEAR
147,538
1,033,646


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 12

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 April 2022
14,439,513


Disposals
(23,972)


Fair value movement
(722,044)



AT 31 MARCH 2023
13,693,497

The 2023 valuations were made by Directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
112,737
113,019

112,737
113,019


7.


DEBTORS

2023
2022
£
£


Other debtors
954,190
865,567

954,190
865,567



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Corporation tax
334,042
282,520

Other creditors
902,085
795,022

1,236,127
1,077,542


Page 13

 
STANLEY N EVANS (PROPERTIES) LIMITED
 

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

9.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
3,610,032
2,858,989


(Released)charged to the income statement
(186,587)
751,043



AT END OF YEAR
3,423,445
3,610,032

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Tax on revaluation of investment properties
3,423,445
3,610,032

3,423,445
3,610,032


10.


RESERVES

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior year movements.

Profit & loss account

The profit and loss account includes all current and prior year retained profits and losses.


11.


RELATED PARTY TRANSACTIONS

The company received management services from Bankway Properties Limited, a company in which a director, David Pears has an interest, the cost of which amounted to £32,000 (2022 - £32,000). At 31 March 2023 £NIL (2022 - £NIL) was owed to that company.
Dividends were paid during the year to Stanley N Evans Limited of £550,000 (2022 - £400,000) and to Homedeal Limited of £550,000 (2022 - £400,000).


Page 14