REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2023 |
for |
Stern Partners Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2023 |
for |
Stern Partners Limited |
Stern Partners Limited (Registered number: 08572311) |
Contents of the Financial Statements |
for the Year Ended 30th June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Stern Partners Limited |
Company Information |
for the Year Ended 30th June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
29a Crown Street |
Brentwood |
Essex |
CM14 4BA |
Stern Partners Limited (Registered number: 08572311) |
Balance Sheet |
30th June 2023 |
30.6.23 | 30.6.22 |
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 ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 | ( |
) |
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. |
Stern Partners Limited (Registered number: 08572311) |
Balance Sheet - continued |
30th June 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 |
Stern Partners Limited (Registered number: 08572311) |
Notes to the Financial Statements |
for the Year Ended 30th June 2023 |
1. | STATUTORY INFORMATION |
Stern Partners Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover comprises the fees and expenses receivable in respect of the sales value of services provided and performed during the year. |
The services that have been performed which were not invoiced at the year-end and where fees will be receivable are classified as 'amounts recoverable on contracts' and separately disclosed within debtors. |
Turnover also comprises rental income receivable for the year. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. |
Financial instruments |
Financial instruments are recorded at historical cost less impairment. |
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. |
Stern Partners Limited (Registered number: 08572311) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st July 2022 |
Additions |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st July 2022 |
Revaluations | (35,000 | ) |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
Stern Partners Limited (Registered number: 08572311) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30th June 2023 is represented by: |
£ |
Valuation in 2023 | (29,690 | ) |
Cost | 764,690 |
735,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
30.6.23 | 30.6.22 |
£ | £ |
Cost | 764,690 | 764,690 |
Investment property was valued on an open market value basis on 30th June 2023 by the board of directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
Deferred tax asset |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Hire purchase contracts |
Social security and other taxes |
Directors' loan accounts |
Accrued expenses and deferred |
income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Hire purchase contracts |
Stern Partners Limited (Registered number: 08572311) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
9. | RESERVES |
Fair value |
reserve |
£ |
At 1st July 2022 |
Revaluation deficit | (23,675 | ) |
At 30th June 2023 | ( |
) |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Stern Partners Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stern Partners Limited for the year ended 30th June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Stern Partners Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stern Partners Limited and state those matters that we have agreed to state to the Board of Directors of Stern Partners Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stern Partners Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Stern Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stern Partners Limited. You consider that Stern Partners Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Stern Partners Limited. 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 statutory financial statements. |
Chartered Accountants |
29a Crown Street |
Brentwood |
Essex |
CM14 4BA |