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Registered number: 04442887
Staywood Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Proactive Chartered Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04442887
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,000 15,000
Tangible Assets 5 705,367 707,835
720,367 722,835
CURRENT ASSETS
Debtors 6 6,065 79,153
Cash at bank and in hand 190,635 104,010
196,700 183,163
Creditors: Amounts Falling Due Within One Year 7 (147,762 ) (163,575 )
NET CURRENT ASSETS (LIABILITIES) 48,938 19,588
TOTAL ASSETS LESS CURRENT LIABILITIES 769,305 742,423
Creditors: Amounts Falling Due After More Than One Year 8 (254,963 ) (261,505 )
NET ASSETS 514,342 480,918
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 514,242 480,818
SHAREHOLDERS' FUNDS 514,342 480,918
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Shamin Ahmed
Director
29/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Staywood Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04442887 . The registered office is Brook Hosue, Park Avenue, Ventor, Isle of Wight, PO38 1LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Fixtures & Fittings 10% Reducing Balance
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 60 (2022: 60)
60 60
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 15,000
As at 31 October 2023 15,000
Net Book Value
As at 31 October 2023 15,000
As at 1 November 2022 15,000
Page 3
Page 4
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 609,274 711,712 1,320,986
Additions - 8,210 8,210
As at 31 October 2023 609,274 719,922 1,329,196
Depreciation
As at 1 November 2022 - 613,151 613,151
Provided during the period - 10,678 10,678
As at 31 October 2023 - 623,829 623,829
Net Book Value
As at 31 October 2023 609,274 96,093 705,367
As at 1 November 2022 609,274 98,561 707,835
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 123 72,859
Other debtors 5,942 6,294
6,065 79,153
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 43,580 46,716
Bank loans and overdrafts 70,420 70,420
Other creditors 13,700 34,456
Taxation and social security 20,062 11,983
147,762 163,575
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 254,963 261,505
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4