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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STAGS HEAD ANTIQUES LIMITED

STAGS HEAD ANTIQUES LIMITED (REGISTERED NUMBER: 07870075)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STAGS HEAD ANTIQUES LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: S M Sly
C M Sly





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 07870075 (England and Wales)






STAGS HEAD ANTIQUES LIMITED (REGISTERED NUMBER: 07870075)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
ASSETS

FIXED ASSETS
Tangible assets 4 5,661 3,396
Investment property 5 617,000 302,000
622,661 305,396

CURRENT ASSETS
Stocks 6 511,991 480,081
Debtors 7 20,104 11,315
Cash at bank and in hand 33,122 239,902
565,217 731,298
1,187,878 1,036,694

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 8 52,000 52,000
Fair value reserve 9 14,021 11,157
Retained earnings 477,467 472,230
SHAREHOLDERS' FUNDS 543,488 535,387

PROVISIONS FOR LIABILITIES 7,467 6,192

CREDITORS 10 636,923 495,115
1,187,878 1,036,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:



S M Sly - Director


STAGS HEAD ANTIQUES LIMITED (REGISTERED NUMBER: 07870075)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Stags Head Antiques 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.

Despite the coronavirus pandemic, the directors are satisfied that it is appropriate for the financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising within the antiques sector and the economy as a whole. The directors have taken steps to minimise these effects and will continue to do so. The company has taken advantage of grants and funding measures offered by the government. Taking all matters into consideration, the directors have concluded that no adjustments are required to the financial statements.

Turnover
Turnover represents the sales value of antiques, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer and office equipment - 33% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 2 (2022 - 2 ) .

STAGS HEAD ANTIQUES LIMITED (REGISTERED NUMBER: 07870075)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Computer
Fixtures and
and office
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 17,008 16,862 33,870
Additions - 4,999 4,999
At 31 December 2023 17,008 21,861 38,869
DEPRECIATION
At 1 January 2023 16,352 14,122 30,474
Charge for year 656 2,078 2,734
At 31 December 2023 17,008 16,200 33,208
NET BOOK VALUE
At 31 December 2023 - 5,661 5,661
At 31 December 2022 656 2,740 3,396

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 302,000
Additions 312,136
Revaluations 2,864
At 31 December 2023 617,000
NET BOOK VALUE
At 31 December 2023 617,000
At 31 December 2022 302,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 302,000
Valuation in 2023 315,000
617,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 589,367 277,231

Investment property was valued on an open market basis on 31 December 2022 by the directors .

6. STOCKS
2023 2022
£    £   
Goods for sale 511,991 480,081

STAGS HEAD ANTIQUES LIMITED (REGISTERED NUMBER: 07870075)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,440 4,500
Other debtors 12,664 6,815
20,104 11,315

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
52,000 Ordinary £1.00 52,000 52,000

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 11,157
Investment property revaluation 2,864

At 31 December 2023 14,021

10. CREDITORS
2023 2022
£    £   
Amounts falling due within one year:
Bank loans and overdrafts 5,557 5,556
Trade creditors 9,111 24,439
Taxation and social security 3,328 7,324
Other creditors 48,599 10,735
66,595 48,054

Amounts falling due after more than one year:
Bank loans 412,411 219,909
Other creditors 157,917 227,152
570,328 447,061

Aggregate amounts 636,923 495,115

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans over 5 years due by non-installment 382,319 184,261

Repayable by instalments
Bank loans more 5 yr by instal 18,981 18,981