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Registered Number: 11565354
England & Northern Ireland

 

 

 

STONEBRIDGE ASSET MANAGEMENT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Accountants' report on the financial statements to the directors of Stonebridge Asset Management Limited.

In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Act 2006, we have compiled the financial statements of the company for the period ending year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement.  Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

You have acknowledged on the Balance Sheet as at year ended 31 May 2023 your duty to ensure that the company has kept the correct accounting records to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from statutory requirement for an audit for the period.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.



....................................................
Stonebridge Accountants
19a Chorley Old Road
Bolton
BL1 3AD
23 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 402,095    402,095 
Investments 4 34    34 
402,129    402,129 
Current assets      
Cash at bank and in hand 43,714    48,373 
Creditors: amount falling due within one year (1,666)   (421)
Net current assets 42,048    47,952 
 
Total assets less current liabilities 444,177    450,081 
Creditors: amount falling due after more than one year (325,169)   (333,185)
Net assets 119,008    116,896 
 

Capital and reserves
     
Called up share capital 5 100    100 
Reserves 6 115,000    115,000 
Profit and loss account 3,908    1,796 
Shareholder's funds 119,008    116,896 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 February 2024 and were signed on its behalf by:


-------------------------------
Mr Faruk Y Patel
Director
2
General Information
Stonebridge Asset Management Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 11565354, registration address 19a, Chorley Old Road, Bolton, BL1 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Improvements to property   Total
  £   £   £
At 01 June 2022 354,000    48,095    402,095 
Additions    
Disposals    
At 31 May 2023 354,000    48,095    402,095 
Depreciation
At 01 June 2022    
Charge for year    
On disposals    
At 31 May 2023    
Net book values
Closing balance as at 31 May 2023 354,000    48,095    402,095 
Opening balance as at 01 June 2022 354,000    48,095    402,095 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 June 2022 34    34 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 May 2023 34    34 

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3