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REGISTERED NUMBER: 03453377 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STAPLES INVESTMENTS LIMITED

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STAPLES INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr Gary Staples
Mrs Tracy Staples





SECRETARY: Mrs Tracy Staples





REGISTERED OFFICE: 3 Jesse Terrace
Reading
Berkshire
RG1 7RS





REGISTERED NUMBER: 03453377 (England and Wales)





ACCOUNTANTS: Malcolm J. Greer FCCA, ATT
Chartered Certified Accountant
3 Jesse Terrace
Reading
Berkshire
RG1 7RS

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,091 1,177
Investment property 5 1,200,000 1,200,000
1,201,091 1,201,177

CURRENT ASSETS
Debtors 6 6,037 4,302
Cash at bank 24,286 52,834
30,323 57,136
CREDITORS
Amounts falling due within one year 7 227,741 197,041
NET CURRENT LIABILITIES (197,418 ) (139,905 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,003,673

1,061,272

CREDITORS
Amounts falling due after more than one
year

8

(268,495

)

(316,665

)

PROVISIONS FOR LIABILITIES 10 (152,934 ) (152,914 )
NET ASSETS 582,244 591,693

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 582,144 591,593
SHAREHOLDERS' FUNDS 582,244 591,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2024 and were signed on its behalf by:





Mr Gary Staples - Director


STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Staples Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 30,412 1,285 31,697
Additions 698 - 698
Disposals (11,555 ) (1,285 ) (12,840 )
At 31 March 2024 19,555 - 19,555
DEPRECIATION
At 1 April 2023 29,238 1,282 30,520
Charge for year 781 - 781
Eliminated on disposal (11,555 ) (1,282 ) (12,837 )
At 31 March 2024 18,464 - 18,464
NET BOOK VALUE
At 31 March 2024 1,091 - 1,091
At 31 March 2023 1,174 3 1,177

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,200,000
NET BOOK VALUE
At 31 March 2024 1,200,000
At 31 March 2023 1,200,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2002 589,001
Valuation in 2005 360,999
Valuation in 2017 250,000
1,200,000

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 589,001 589,001

The investment properties were valued on a fair open market basis on 31 March 2017 by Mr. Gary Staples, a Company Director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,300 2,700
Called up share capital not paid 100 100
Prepayments and accrued income 1,637 1,502
6,037 4,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 25,668 16,834
Trade creditors 127 126
Corporation tax 2,494 3,281
Social security and other taxes 24 24
Inter company loan 190,394 170,394
Directors' current accounts 4,079 421
Accruals and deferred income 4,955 5,961
227,741 197,041

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 58,845 37,772
Bank loans - 2-5 years 68,857 43,244
Bank loans more than 5 years 140,793 235,649
268,495 316,665

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 140,793 235,649

STAPLES INVESTMENTS LIMITED (REGISTERED NUMBER: 03453377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 294,163 333,499

The bank loan is secured by a series of legal mortgages over the Company's investment properties.

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Deferred tax - Accelerated Capital
Allowances

184

224
Deferred tax - Revaluation of Investment
Properties

152,750

152,690
152,934 152,914

Deferred
tax
£   
Balance at 1 April 2023 152,914
Provided during year 20
Balance at 31 March 2024 152,934

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary shares £1 100 100

12. RELATED PARTY DISCLOSURES

Rainbow Corner (Reading) Limited, a Company in which Mr. Gary Staples is a shareholder.

During the year, the Company let a freehold property to Rainbow Corner (Reading) Limited for £32,400 (2023: £32,400).

At the year end, the Company was owed £2,700 (2023: £2,700) by Rainbow Corner (Reading) Limited.

During the year, the Company received an interest free loan from Rainbow Corner (Reading) Limited. At the year end, the balance outstanding on this loan amounted to £190,394 (2023: £170,394).