Company registration number 09043240 (England and Wales)
STATON YOUNG (COMMERCIAL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
STATON YOUNG (COMMERCIAL) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3
STATON YOUNG (COMMERCIAL) LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF STATON YOUNG (COMMERCIAL) LIMITED
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Staton Young (Commercial) Limited for the year ended 31 May 2023 which comprise, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Staton Young (Commercial) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Staton Young (Commercial) Limited and state those matters that we have agreed to state to the board of directors of Staton Young (Commercial) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Staton Young (Commercial) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Staton Young (Commercial) 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 loss of Staton Young (Commercial) Limited. You consider that Staton Young (Commercial) 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 Staton Young (Commercial) 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.
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
30 April 2024
STATON YOUNG (COMMERCIAL) LIMITED
BALANCE SHEET
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2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
94,263
96,920
Creditors: amounts falling due within one year
4
(86,022)
(87,391)
Net current assets
8,241
9,529
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8,141
9,429
Total equity
8,241
9,529
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 April 2024 and are signed on its behalf by:
M L Brough
Director
Company registration number 09043240 (England and Wales)
STATON YOUNG (COMMERCIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
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1
Accounting policies
Company information
Staton Young (Commercial) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Derwent Business Centre, Clarke Street, Derby, DE1 2BU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
94,263
96,920
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
86,022
84,672
Taxation and social security
2,719
86,022
87,391
5
Related party transactions
Transactions with related parties
The company has taken advantage of the exemption under FRS102 Section 1A in respect of disclosing transactions with other member of the group.