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Registration number: 04891347

Stanley's Builders Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Stanley's Builders Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Stanley's Builders Limited

Company Information

Directors

Lee James Charlton

Ruth Helen Charlton

Registered office

3c Follifoot Ridge Bus. Park
Pannal Road
Harrogate
North Yorkshire
HG3 1DP

 

Stanley's Builders Limited

(Registration number: 04891347)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

85

-

Investments

7

180,000

180,000

 

180,085

180,000

Current assets

 

Stocks

8

151,719

106,740

Debtors

9

-

62,169

Cash at bank and in hand

 

118,461

44,825

 

270,180

213,734

Creditors: Amounts falling due within one year

10

(338,481)

(270,789)

Net current liabilities

 

(68,301)

(57,055)

Total assets less current liabilities

 

111,784

122,945

Creditors: Amounts falling due after more than one year

10

(7,270)

(11,290)

Net assets

 

104,514

111,655

Capital and reserves

 

Called up share capital

11

2

2

Retained earnings

104,512

111,653

Shareholders' funds

 

104,514

111,655

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

Approved and authorised by the Board on 1 February 2024 and signed on its behalf by:
 

.........................................
Lee James Charlton
Director

 

Stanley's Builders Limited

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

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:
3c Follifoot Ridge Bus. Park
Pannal Road
Harrogate
North Yorkshire
HG3 1DP
England

These financial statements were authorised for issue by the Board on 1 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.

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 sales/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 current 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.

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.

 

Stanley's Builders Limited

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

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

Motor vehicles

25% on cost

Office equipment

25% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Stanley's Builders Limited

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Stanley's Builders Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 9).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

28

4,268

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

35,000

35,000

At 30 September 2023

35,000

35,000

Amortisation

At 1 October 2022

35,000

35,000

At 30 September 2023

35,000

35,000

Carrying amount

At 30 September 2023

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

15,943

43,777

8,880

68,600

Additions

113

-

-

113

At 30 September 2023

16,056

43,777

8,880

68,713

Depreciation

At 1 October 2022

15,943

43,778

8,880

68,601

Charge for the year

28

(1)

-

27

At 30 September 2023

15,971

43,777

8,880

68,628

Carrying amount

At 30 September 2023

85

-

-

85

 

Stanley's Builders Limited

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

7

Investments

2023
£

2022
£

Investments in subsidiaries

180,000

180,000

Subsidiaries

£

Cost or valuation

At 1 October 2022

180,000

Provision

Carrying amount

At 30 September 2023

180,000

At 30 September 2022

180,000

8

Stocks

2023
£

2022
£

Work in progress

138,809

98,000

Other inventories

12,910

8,740

151,719

106,740

9

Debtors

Current

2023
£

2022
£

Trade debtors

-

62,169

 

-

62,169

 

Stanley's Builders Limited

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

10

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

12

4,455

4,401

trade creditors

 

166,210

62,725

Taxation and social security

 

63,221

48,662

Other creditors

 

104,595

155,001

 

338,481

270,789

Due after one year

 

Loans and borrowings

12

7,270

11,290

11

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

12

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,270

11,290

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,319

4,265

Other borrowings

136

136

4,455

4,401