Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Ms S A Stanley 22/12/2010 03 April 2024 The principal activity of the Company during the financial year was that of owning furnished holiday letting and residential letting accommodation. 07476002 2023-12-31 07476002 bus:Director1 2023-12-31 07476002 2022-12-31 07476002 core:CurrentFinancialInstruments 2023-12-31 07476002 core:CurrentFinancialInstruments 2022-12-31 07476002 core:ShareCapital 2023-12-31 07476002 core:ShareCapital 2022-12-31 07476002 core:RetainedEarningsAccumulatedLosses 2023-12-31 07476002 core:RetainedEarningsAccumulatedLosses 2022-12-31 07476002 core:OtherPropertyPlantEquipment 2022-12-31 07476002 core:OtherPropertyPlantEquipment 2023-12-31 07476002 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 07476002 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 07476002 2023-01-01 2023-12-31 07476002 bus:FilletedAccounts 2023-01-01 2023-12-31 07476002 bus:SmallEntities 2023-01-01 2023-12-31 07476002 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07476002 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07476002 bus:Director1 2023-01-01 2023-12-31 07476002 2022-01-01 2022-12-31 07476002 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 07476002 (England and Wales)

STANLEY LAIN ESTATES LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

STANLEY LAIN ESTATES LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

STANLEY LAIN ESTATES LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
STANLEY LAIN ESTATES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Ms S A Stanley
REGISTERED OFFICE Stanley Lain Estates Coswarth Manor
Coswarth
Newquay
TR8 4LZ
England
United Kingdom
COMPANY NUMBER 07476002 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
STANLEY LAIN ESTATES LTD

BALANCE SHEET

As at 31 December 2023
STANLEY LAIN ESTATES LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 0 938
Investment property 4 0 525,000
0 525,938
Current assets
Debtors 5 3,811 192
Cash at bank and in hand 0 68,409
3,811 68,601
Creditors: amounts falling due within one year 6 ( 3,708) ( 675,037)
Net current assets/(liabilities) 103 (606,436)
Total assets less current liabilities 103 (80,498)
Net assets/(liabilities) 103 ( 80,498)
Capital and reserves
Called-up share capital 103 103
Profit and loss account 0 ( 80,601 )
Total shareholders' funds/(deficit) 103 ( 80,498)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Stanley Lain Estates Ltd (registered number: 07476002) were approved and authorised for issue by the Director on 03 April 2024. They were signed on its behalf by:

Ms S A Stanley
Director
STANLEY LAIN ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
STANLEY LAIN ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stanley Lain Estates Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stanley Lain Estates Coswarth Manor, Coswarth, Newquay, TR8 4LZ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 938 938
Disposals ( 938) ( 938)
At 31 December 2023 0 0
Accumulated depreciation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 0 0
At 31 December 2022 938 938

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 525,000
Fair value movement (50,000)
Disposals (475,000)
As at 31 December 2023 0

Valuation

The property was valued by an independent estate agent prior to its transfer out of the company. The valuation at that date indicated a fall in value of £50,000, which has been accounted for in these financial statements, prior to the disposal of the property.

Assumptions

These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2023 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 0 511,105

5. Debtors

2023 2022
£ £
Amounts owed by Parent undertakings 3,811 0
Other debtors 0 192
3,811 192

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 8 0
Trade creditors 0 24
Taxation and social security 1,900 2,767
Other creditors 1,800 672,246
3,708 675,037

7. Ultimate controlling party

Parent Company:

Unique Home Stays Limited
Stanley Lain House
Trebudannon
Newquay
Cornwall
TR8 4LP