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Registration number: 10226441

Stamford Property and Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Stamford Property and Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Stamford Property and Investments Limited

Company Information

Directors

Mr Keith Nicholas Foreman

Mrs Cheryl Patricia Foreman

Registered office

Becket House
Greatford
Stamford
Lincs
PE9 4QA

Accountants

Cannon Williamson
Chartered Certified Accountants
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

 

Stamford Property and Investments Limited

(Registration number: 10226441)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

14,027

12,848

Investment property

5

1,053,020

882,000

 

1,067,047

894,848

Current assets

 

Debtors

6

-

1,427

Cash at bank and in hand

 

1,483

2,553

 

1,483

3,980

Creditors: Amounts falling due within one year

7

(1,045,414)

(858,312)

Net current liabilities

 

(1,043,931)

(854,332)

Total assets less current liabilities

 

23,116

40,516

Provisions for liabilities

(16,542)

(16,542)

Net assets

 

6,574

23,974

Capital and Reserves

 

Called up share capital

8

2

2

Other reserves

41,991

37,739

Retained Earnings

(35,419)

(13,767)

Shareholders' funds

 

6,574

23,974

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 April 2024 and signed on its behalf by:
 

 

Stamford Property and Investments Limited

(Registration number: 10226441)
Balance Sheet as at 30 June 2023 (continued)

.........................................
Mr Keith Nicholas Foreman
Director

 

Stamford Property and Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Becket House
Greatford
Stamford
Lincs
PE9 4QA

These financial statements were authorised for issue by the Board on 22 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Stamford Property and Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Reducing balance

Bedding and Linens

50% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Stamford Property and Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

32,624

32,624

Additions

4,688

4,688

At 30 June 2023

37,312

37,312

Depreciation

At 1 July 2022

19,776

19,776

Charge for the year

3,509

3,509

At 30 June 2023

23,285

23,285

Carrying amount

At 30 June 2023

14,027

14,027

At 30 June 2022

12,848

12,848

5

Investment properties

2023
£

At 1 July

882,000

Additions

171,020

At 30 June

1,053,020

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

2022
£

Other debtors

-

1,427

 

Stamford Property and Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

-

1,200

Accruals and deferred income

13,027

4,404

Other creditors

1,032,387

852,708

1,045,414

858,312

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Non-distributable reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

4,252

4,252

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Non-distributable reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(9,310)

(9,310)

10

Dividends