Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09634619 2023-04-01 2024-03-31 09634619 2022-04-01 2023-03-31 09634619 2024-03-31 09634619 2023-03-31 09634619 2022-04-01 09634619 c:Director4 2023-04-01 2024-03-31 09634619 d:FurnitureFittings 2023-04-01 2024-03-31 09634619 d:FurnitureFittings 2024-03-31 09634619 d:FurnitureFittings 2023-03-31 09634619 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09634619 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 09634619 d:FreeholdInvestmentProperty 2024-03-31 09634619 d:FreeholdInvestmentProperty 2023-03-31 09634619 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 09634619 d:CurrentFinancialInstruments 2024-03-31 09634619 d:CurrentFinancialInstruments 2023-03-31 09634619 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09634619 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09634619 d:ShareCapital 2024-03-31 09634619 d:ShareCapital 2023-03-31 09634619 d:RetainedEarningsAccumulatedLosses 2024-03-31 09634619 d:RetainedEarningsAccumulatedLosses 2023-03-31 09634619 c:FRS102 2023-04-01 2024-03-31 09634619 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09634619 c:FullAccounts 2023-04-01 2024-03-31 09634619 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09634619 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09634619 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 09634619


STANTON RESIDENTIAL INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
REGISTERED NUMBER:09634619

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
365
456

Investment property
 5 
6,130,000
6,060,000

  
6,130,365
6,060,456

Current assets
  

Debtors: amounts falling due within one year
 6 
9,149
14,529

Cash at bank and in hand
 7 
84,231
275,834

  
93,380
290,363

Creditors: amounts falling due within one year
 8 
(4,198,217)
(4,502,261)

Net current liabilities
  
 
 
(4,104,837)
 
 
(4,211,898)

Total assets less current liabilities
  
2,025,528
1,848,558

Provisions for liabilities
  

Deferred tax
 10 
(206,676)
(192,269)

  
 
 
(206,676)
 
 
(192,269)

Net assets
  
1,818,852
1,656,289


Capital and reserves
  

Called up share capital 
  
250,000
250,000

Profit and loss account
  
1,568,852
1,406,289

  
1,818,852
1,656,289


Page 1

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
REGISTERED NUMBER:09634619
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Stanton George
Director

Date: 31 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Stanton Residential Investments Limited is a company limited by shares, domiciled in England and Wales, registered number 09634619. The registered office and principal place of business is Towerfields, 66 Derngate, Northampton, NN1 1UH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of properties
Revenue from the sale of properties is recognised when all of the following conditions are satisfied:
• the Company has transferred the significant risks and rewards of ownership to the buyer;
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rental income
Rental income is recognised in the period to which it relates to.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives;

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% Reducing balance

  
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
1,098



At 31 March 2024

1,098



Depreciation


At 1 April 2023
642


Charge for the year on owned assets
91



At 31 March 2024

733



Net book value



At 31 March 2024
365



At 31 March 2023
456


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
6,060,000


Additions at cost
11,431


Surplus on revaluation
58,569



At 31 March 2024
6,130,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



Page 6

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
6,205

Other debtors
5,528
5,528

Prepayments and accrued income
3,621
2,796

9,149
14,529



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
84,231
275,834



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
37,620
33,091

Other creditors
4,147,241
4,455,241

Accruals and deferred income
13,356
13,929

4,198,217
4,502,261



9.


Financial instruments

All debtors and creditors are basic financial instruments and are held at amortised cost.


10.


Deferred taxation




2024
2023


£

£






At beginning of year
192,269
161,047


Charged to profit or loss
14,407
31,222



At end of year
206,676
192,269

Page 7

 
STANTON RESIDENTIAL INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Gains on Investment Property
206,676
192,269


11.


Related party transactions

The Company was under the control of the directors throughout the year.
At 31 March 2024 the company owed £4,147,241  (2022: 4,455,241 ) to the directors.

The loans are interest free and have no set terms for repayment.

 
Page 8