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Company registration number: 12290950
Stonebridge Advisory Group Limited
Unaudited filleted financial statements
31 December 2023
Stonebridge Advisory Group Limited
Contents
Statement of financial position
Notes to the financial statements
Stonebridge Advisory Group Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 119 159
_______ _______
119 159
Current assets
Debtors 6 51,300 5,327
Cash at bank and in hand 6,127 7,209
_______ _______
57,427 12,536
Creditors: amounts falling due
within one year 7 ( 35,707) ( 30,324)
_______ _______
Net current assets/(liabilities) 21,720 ( 17,788)
_______ _______
Total assets less current liabilities 21,839 ( 17,629)
Creditors: amounts falling due
after more than one year 8 ( 21,594) ( 31,492)
_______ _______
Net assets/(liabilities) 245 ( 49,121)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 243 ( 49,123)
_______ _______
Shareholders funds/(deficit) 245 ( 49,121)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 March 2024 , and are signed on behalf of the board by:
Mr Mark Andrew George Rodgers
Director
Company registration number: 12290950
Stonebridge Advisory Group Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Scottish Provident House, 3rd floor, 76-80 College Road, Harrow, Middlesex, HA1 1BQ. The principal activity of the company is management and financial consultancy and acting as finance broker.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with continuing financial support from the shareholders and the directors. Thus, the directors continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered,net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended tocompensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 283 283
_______ _______
Depreciation
At 1 January 2023 124 124
Charge for the year 40 40
_______ _______
At 31 December 2023 164 164
_______ _______
Carrying amount
At 31 December 2023 119 119
_______ _______
At 31 December 2022 159 159
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 2,400 795
Other debtors 48,900 4,532
_______ _______
51,300 5,327
_______ _______
Included within other debtors are amounts owed by a connected company amounting to £5,180 (2022: £4,068), which is unsecured, interest free and repayable on demand.
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 285 111
Corporation tax 20,680 2,631
Social security and other taxes 1,903 934
Other creditors 12,839 26,648
_______ _______
35,707 30,324
_______ _______
Included within other creditors is a Bounce back loan amounting to £9,239 (2022: £9,341), which is unsecured, interest bearing at 2.5% PA and repayable in January 2027.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 21,594 31,492
_______ _______
Other creditors represent a Bounce back loan which is unsecured, interest bearing at 2.5% PA and repayable in January 2027.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Mark Andrew George Rodgers ( 15,783) ( 6,322) 29,510 7,405
Mr Robert Lachlan Ritchie 76 ( 470) 7,600 7,206
_______ _______ _______ _______
( 15,707) ( 6,792) 37,110 14,611
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Mark Andrew George Rodgers ( 3) ( 29,744) 13,964 ( 15,783)
Mr Robert Lachlan Ritchie ( 91) ( 912) 1,079 76
_______ _______ _______ _______
( 94) ( 30,656) 15,043 ( 15,707)
_______ _______ _______ _______
The amounts owed by the directors to the company are unsecured, interest free and repayable on demand.