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REGISTERED NUMBER: 06273248 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

Steamstone Limited

Steamstone Limited (Registered number: 06273248)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Steamstone Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: G R Ziser (Nominee)





REGISTERED OFFICE: 1st Floor, 9 Hampstead West
224 Iverson Road
West Hampstead
London
NW6 2HL





REGISTERED NUMBER: 06273248 (England and Wales)





ACCOUNTANTS: Newmans
Chartered Certified Accountants
DVS House
Suite 1, First Floor
4 Spring Villa Road
Edgware
Middlesex
HA8 7EB

Steamstone Limited (Registered number: 06273248)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,454 2,181
Investment property 5 2,235,000 2,235,000
2,236,454 2,237,181

CURRENT ASSETS
Debtors 6 65,794 63,929
Cash at bank 6,548 7,270
72,342 71,199
CREDITORS
Amounts falling due within one year 7 574,986 599,750
NET CURRENT LIABILITIES (502,644 ) (528,551 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,733,810

1,708,630

CREDITORS
Amounts falling due after more than one year 8 (1,031,589 ) (1,031,586 )

PROVISIONS FOR LIABILITIES 9 (18,117 ) (18,117 )
NET ASSETS 684,104 658,927

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 10 566,295 566,295
Retained earnings 10 117,808 92,631
SHAREHOLDERS' FUNDS 684,104 658,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Steamstone Limited (Registered number: 06273248)

Balance Sheet - continued
30 June 2023


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 director and authorised for issue on 29 November 2023 and were signed by:





G R Ziser (Nominee) - Director


Steamstone Limited (Registered number: 06273248)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Steamstone 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 1 (2022 - 1 ) .

Steamstone Limited (Registered number: 06273248)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2022
and 30 June 2023 2,908
DEPRECIATION
At 1 July 2022 727
Charge for year 727
At 30 June 2023 1,454
NET BOOK VALUE
At 30 June 2023 1,454
At 30 June 2022 2,181

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,235,000
NET BOOK VALUE
At 30 June 2023 2,235,000
At 30 June 2022 2,235,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2019 706,198
Valuation in 2020 (37,285 )
Valuation in 2021 (105,526 )
Valuation in 2022 2,908
Cost 1,668,705
2,235,000

The investment property was valued on an existing use open market value basis by Colliers International, chartered surveyors on 18 August 2021. In the opinion of the director the market value of the property at 30 June 2023 is represented by the net book value above.

Steamstone Limited (Registered number: 06273248)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed by group undertakings 56,572 -
Amounts owed by associates - 45,000
Prepayments 9,222 18,929
65,794 63,929

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 12,752 12,302
Amounts owed to group undertakings 543,091 564,519
Taxation and social security 6,084 10,113
Other creditors 13,059 12,816
574,986 599,750

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 1,031,589 1,031,586

The bank loan is secured by a fixed and floating charges over Steamstone Limited. The floating charge covers all of the property or undertaking of the company. The charges also contain a negative pledge.

9. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 18,117 18,117

Deferred
tax
£   
Balance at 1 July 2022 18,117
Balance at 30 June 2023 18,117

Steamstone Limited (Registered number: 06273248)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2022 92,631 566,295 658,926
Profit for the year 25,177 25,177
At 30 June 2023 117,808 566,295 684,103

11. CONTINGENT LIABILITIES

The company is a party to a joint bank loan facility agreement with related companies. As part of this agreement, the company has provided its freehold property and other assets as security to the bank. As at 30 June 2023, the contingent liability arising from the sum due to related companies to the bank amounted to £34,417,343 (2022 - £34,472,438).