REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Discover Stone Properties Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Discover Stone Properties Ltd |
Discover Stone Properties Ltd (Registered number: 11587726) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Discover Stone Properties Ltd |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
Discover Stone Properties Ltd (Registered number: 11587726) |
Statement of Financial Position |
30 September 2023 |
30/9/23 | 30/9/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Discover Stone Properties Ltd (Registered number: 11587726) |
Statement of Financial Position - continued |
30 September 2023 |
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 |
Discover Stone Properties Ltd (Registered number: 11587726) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Discover Stone Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income due for the accounting period from the investment properties. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Going concern |
Despite net current liabilities of £43,580 at 30 September 2023 (2022 - £45,933) the financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows of the business and have expressed their intention to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Discover Stone Properties Ltd (Registered number: 11587726) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 October 2022 |
and 30 September 2023 |
Depreciation |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 October 2022 |
Revaluations | 19,900 |
At 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
If the investment properties had not been revalued they would have been held at their historical cost of £133,820 (2022 - £133,820). |
The directors have reviewed the local property market and made enquiries with local property agents. As a result of their review they consider that the fair value of the investment properties has risen during the year as reflected above. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/23 | 30/9/22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/23 | 30/9/22 |
£ | £ |
Other creditors |
Discover Stone Properties Ltd (Registered number: 11587726) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/9/23 | 30/9/22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/9/23 | 30/9/22 |
£ | £ |
Bank loans |
The bank loans are secured by fixed and floating charges over the investment properties and assets of the company. |
10. | RELATED PARTY DISCLOSURES |
Discover Stone Ltd |
A company under common control |
Included in other creditors is a loan from Discover Stone Ltd of £46,218 (2022 - £46,218). The loan is interest free and has no fixed repayment terms. |
The Directors |
K E Storey and Mrs L Storey |
At 30 September 2023, the company owed the directors £2,819 (2022 - £5,884). The loan is interest free and has no fixed repayment terms. |