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REGISTERED NUMBER: 09164217 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

T. STACE & SONS LTD

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. STACE & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: T R Stace
N C Stace
T A Stace





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





REGISTERED NUMBER: 09164217 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,335,000 3,400,000

CURRENT ASSETS
Debtors 5 62,708 34,138
Investments 6 62,468 150,828
Cash at bank 6,002 8,462
131,178 193,428
CREDITORS
Amounts falling due within one year 7 223,658 233,818
NET CURRENT LIABILITIES (92,480 ) (40,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,242,520

3,359,610

CREDITORS
Amounts falling due after more than one
year

8

(248,576

)

(452,461

)

PROVISIONS FOR LIABILITIES 10 (225,787 ) (236,904 )
NET ASSETS 2,768,157 2,670,245

CAPITAL AND RESERVES
Called up share capital 11 603 570
Share premium 98,967 -
Non-distributable reserve 908,312 957,062
Retained earnings 1,760,275 1,712,613
SHAREHOLDERS' FUNDS 2,768,157 2,670,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 16 February 2024 and were signed on its behalf by:





T R Stace - Director


T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

T. Stace & Sons Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer rebates and other similar allowances.

Revenue represents the rental income received from the investment properties, excluding value added tax where applicable.

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.

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.

Current asset investments
Current asset investments are stated at fair value.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 3,400,000
Revaluations (65,000 )
At 30 September 2023 3,335,000
NET BOOK VALUE
At 30 September 2023 3,335,000
At 30 September 2022 3,400,000

Investment properties were valued on an open market basis on 18th July 2017 by Porters Intrinsic Valuations and the directors have confirmed the value as at 30 September 2023 remains appropriate for the commercial properties. The directors have valued the residential property on an open market value basis as at 30 September 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,838 24,833
Other debtors 35,870 9,305
62,708 34,138

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 62,468 150,828

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 51,117 45,063
Taxation and social security 13,711 26,313
Other creditors 158,830 162,442
223,658 233,818

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 248,576 452,461

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,718 247,003

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 299,693 497,524

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 225,787 236,904

Deferred
tax
£   
Balance at 1 October 2022 236,904
Credit to Income Statement during year (11,117 )
Balance at 30 September 2023 225,787

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 570
147 A Ordinary £1 147 -
456 B Ordinary £1 456 -
603 570

The following shares were issued during the year:

33 Ordinary shares of £1 for cash of £ 99,000

T. STACE & SONS LTD (REGISTERED NUMBER: 09164217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
T R Stace
Balance outstanding at start of year 366 -
Amounts advanced 43,000 366
Amounts repaid (17,367 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,999 366

13. RELATED PARTY DISCLOSURES

Included in Creditors: amounts due within one year at the balance sheet date is an amount due to the directors of £100,441 (2022: £106,392).