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COMPANY REGISTRATION NUMBER: 12691099
The Styles Lane Partnership Ltd
Filleted Unaudited Financial Statements
30 June 2023
The Styles Lane Partnership Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
The Styles Lane Partnership Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Current assets
Stocks
302,077
289,856
Debtors
5
2,012
Cash at bank and in hand
764
847
---------
---------
304,853
290,703
Creditors: amounts falling due within one year
6
308,942
293,917
---------
---------
Net current liabilities
4,089
3,214
-------
-------
Total assets less current liabilities
( 4,089)
( 3,214)
-------
-------
Net liabilities
( 4,089)
( 3,214)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 4,091)
( 3,216)
-------
-------
Shareholders deficit
( 4,089)
( 3,214)
-------
-------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 were approved by the board of directors and authorised for issue on 6 March 2024 , and are signed on behalf of the board by:
Mr S J Hiscocks
Director
Company registration number: 12691099
The Styles Lane Partnership Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Meadows School House Lane, Horsmonden, Tonbridge, TN12 8BW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Other debtors
2,012
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
308,942
293,917
---------
---------
7. Related party transactions
At the year end the company owed £186,000 (2022: £186,000) to a director. At the year end the company owed £122,067 (2022: £107,067) to companies associated by common control.