REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
ST MARY'S BAY DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
ST MARY'S BAY DEVELOPMENTS LIMITED |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ST MARY'S BAY DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
and Statutory Auditor |
61 Queen Square |
Bristol |
BS1 4JZ |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
BALANCE SHEET |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
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. |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
BALANCE SHEET - continued |
31 OCTOBER 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 |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
St Mary's Bay Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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. |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
At the year end the company had net liabilities of £9,724 (2022 - £9,225), which is stated after recognition of amounts due to the parent undertaking of £13,323 (2022 - £14,341). The company is therefore reliant upon the continuing financial support of the parent undertaking in order to remain a going concern. |
The parent undertaking has confirmed that it intends to continue to provide this ongoing financial support, including not requiring repayment of this balance except to the extent that funds allow, and through the provision of additional funding as required to enable the company to meet its liabilities to third parties as they fall due. Accordingly, the directors consider that the company is able to meet its liabilities as they fall due, and therefore have prepared these financial statements on the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 2 | 2 |
ST MARY'S BAY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05962426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 OCTOBER 2023 |
8. | RELATED PARTY DISCLOSURES |
During the year to 31 October 2023 various operational costs of the company, totalling £469 (2022 - £2,273), were paid by Electrical & Mechanical Solutions Limited, and at 31 October 2023 the company owed £13,323 (2022 - £14,341) to immediate parent undertaking. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are M P Matthews and D M Matthews, who own the entire issued share capital of the parent undertaking, Electrical & Mechanical Solutions Limited. |