Standard and General Ltd 06740278 false 2021-12-01 2022-11-30 2022-11-30 The principal activity of the company is property agency Digita Accounts Production Advanced 6.30.9574.0 true true 06740278 2021-12-01 2022-11-30 06740278 2022-11-30 06740278 core:RetainedEarningsAccumulatedLosses 2022-11-30 06740278 core:ShareCapital 2022-11-30 06740278 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2022-11-30 06740278 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 06740278 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 06740278 core:FurnitureFittingsToolsEquipment 2022-11-30 06740278 core:MotorVehicles 2022-11-30 06740278 bus:SmallEntities 2021-12-01 2022-11-30 06740278 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 06740278 bus:FullAccounts 2021-12-01 2022-11-30 06740278 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 06740278 bus:RegisteredOffice 2021-12-01 2022-11-30 06740278 bus:Director1 2021-12-01 2022-11-30 06740278 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 06740278 core:FurnitureFittings 2021-12-01 2022-11-30 06740278 core:FurnitureFittingsToolsEquipment 2021-12-01 2022-11-30 06740278 core:MotorVehicles 2021-12-01 2022-11-30 06740278 countries:EnglandWales 2021-12-01 2022-11-30 06740278 2021-11-30 06740278 core:FurnitureFittingsToolsEquipment 2021-11-30 06740278 core:MotorVehicles 2021-11-30 06740278 2020-12-01 2021-11-30 06740278 2021-11-30 06740278 core:RetainedEarningsAccumulatedLosses 2021-11-30 06740278 core:ShareCapital 2021-11-30 06740278 core:CurrentFinancialInstruments core:WithinOneYear 2021-11-30 06740278 core:Non-currentFinancialInstruments core:AfterOneYear 2021-11-30 06740278 core:FurnitureFittingsToolsEquipment 2021-11-30 06740278 core:MotorVehicles 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 06740278

Standard and General Ltd



Filleted Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Standard and General Ltd

 

(Registration number: 06740278)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

101,380

135,261

Other financial assets

6

150,000

150,000

 

251,380

285,261

Current assets

 

Debtors

7

16,065,162

11,761,563

Cash at bank and in hand

 

114,989

361,922

 

16,180,151

12,123,485

Creditors: Amounts falling due within one year

8

(15,005,558)

(10,459,484)

Net current assets

 

1,174,593

1,664,001

Total assets less current liabilities

 

1,425,973

1,949,262

Creditors: Amounts falling due after more than one year

8

(88,879)

(133,334)

Net assets

 

1,337,094

1,815,928

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

1,337,093

1,815,927

Total equity

 

1,337,094

1,815,928

For the financial year ending 30 November 2022 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Standard and General Ltd

 

(Registration number: 06740278)
Balance Sheet as at 30 November 2022

Approved and authorised by the director on 23 February 2024
 

.........................................
Mr A Bruner
Director

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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:
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL
United Kingdom

These financial statements were authorised for issue by the director on 23 February 2024.

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.

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 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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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 taxable income.

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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% reducing balance

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.

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2021 - 18).

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Loss/profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

35,243

42,035

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2021

58,402

135,599

194,001

Additions

1,363

-

1,363

At 30 November 2022

59,765

135,599

195,364

Depreciation

At 1 December 2021

27,665

31,075

58,740

Charge for the year

9,113

26,131

35,244

At 30 November 2022

36,778

57,206

93,984

Carrying amount

At 30 November 2022

22,987

78,393

101,380

At 30 November 2021

30,737

104,524

135,261

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2021

150,000

150,000

At 30 November 2022

150,000

150,000

Impairment

Carrying amount

At 30 November 2022

150,000

150,000

7

Debtors

Current

2022
£

2021
£

Prepayments

-

7,320

Other debtors

16,065,162

11,754,243

 

16,065,162

11,761,563

 

Standard and General Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

54,798

69,329

Taxation and social security

1,021,961

626,219

Accruals and deferred income

12,203

6,545

Other creditors

394,955

9,463

Director current accounts

10,507

9,857

Other borrowings

13,511,134

9,738,071

15,005,558

10,459,484

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

88,879

133,334