Company registration number 14108726 (England and Wales)
&STENBALL LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
&STENBALL LIMITED
COMPANY INFORMATION
Directors
M Overington
R Spencer
D Tinson
Company number
14108726
Registered office
Unit 1 Heyworth Business Park
Old Portsmouth Road
Peasmarsh
Guildford
Surrey
GU3 1AF
Accountants
Cheesmans
4 Aztec Row
Berners Road
London
N1 0PW
&STENBALL LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4 - 5
Statement of changes in equity
6
Notes to the financial statements
7 - 12
&STENBALL LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 1 -

The directors present their annual report and financial statements for the period ended 30 November 2023.

Principal activities

The company was incorporated on 16 May 2022 following a recognition by the Stenball Group that it needed to provide a specialist and distinct service covering a growing sector within the core business: the requirement for a Design and Build capability, Architecturally based, working with Project Managers, Professionals and End-Users alike to effectively encompass fast moving legislative (Building Safety Act) and insurance/ funder based (legal & warranty based) requirements for their fast track projects utilising a single construction/contractor entity.

The company is jointly owned by its Managing Director and the founders of the Stenball Group.

&Stenball Limited, with the experience, management capabilities and resources of the Stenball Group behind and within it, is able to provide the expertise to fulfil this role and in its first year can report a turnover in excess of £3m in this sector which includes: Hospitality, Hotels, Commercial redevelopments and Office refurbishment.

The directors are working towards an upward growth performance and profitability pattern for the forthcoming financial year.

Health and Safety is always a primary focus for all activities. &Stenball has complete access to the Group in-house Health and Safety resource and is continually monitoring and improving its knowledge and certification.

Environmental Responsibility is a core consideration in all our corporate activities and we seek to reflect this ethos to our clients and their affiliates in the design & construction process. Construction has historically been a wasteful industry and recycling, reuse and repair feature at the heart of our design process. Efficient resource management and energy consumption reduction on site activities is used as part of the management process to bring this message home to all who work with us.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

M Overington
R Spencer
D Tinson
M Tatam
(Resigned 1 December 2022)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the Board
M Overington
Director
30 July 2024
&STENBALL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF &STENBALL LIMITED FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of &Stenball Limited for the period ended 30 November 2023 which comprise the profit and loss account, the balance sheet, the statement of changes in equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of &Stenball Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of &Stenball Limited and state those matters that we have agreed to state to the board of directors of &Stenball Limited, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than &Stenball Limited and its board of directors, for our work or for this report.

It is your duty to ensure that &Stenball 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 profit of &Stenball Limited. You consider that &Stenball Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of &Stenball 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.

Cheesmans
30 July 2024
Chartered Accountants
4 Aztec Row
Berners Road
London
N1 0PW
&STENBALL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 3 -
Period
Period
ended
ended
30 November
31 May
2023
2022
Notes
£
£
Turnover
1.3
3,041,565
-
Cost of sales
(2,478,824)
-
0
Gross profit
562,741
-
Administrative expenses
(380,014)
-
0
Operating profit
182,727
-
Interest receivable and similar income
236
-
0
Profit before taxation
182,963
-
0
Tax on profit
(38,830)
-
0
Profit for the financial period
144,133
-
0

The profit and loss account has been prepared on the basis that all operations are continuing operations.

&STENBALL LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 4 -
30 November 2023
31 May 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
920
-
0
Current assets
Debtors
4
419,432
-
0
Cash at bank and in hand
689,109
2
1,108,541
2
Creditors: amounts falling due within one year
5
(1,009,655)
-
0
Net current assets
98,886
2
Total assets less current liabilities
99,806
2
Provisions for liabilities
(230)
-
0
Net assets
99,576
2
Capital and reserves
Called up share capital
6
1,000
2
Profit and loss reserves
98,576
-
0
Total equity
99,576
2
&STENBALL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 5 -

For the financial period ended 30 November 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 period in question in accordance with section 476.

These financial statements have been prepared 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 July 2024 and are signed on its behalf by:
M Overington
D Tinson
Director
Director
Company registration number 14108726 (England and Wales)
&STENBALL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 6 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 16 May 2022
-
0
-
0
-
Period ended 31 May 2022:
Profit and total comprehensive income
-
-
0
-
0
Issue of share capital
6
2
-
2
Balance at 31 May 2022
2
-
0
2
Period ended 30 November 2023:
Profit and total comprehensive income
-
144,133
144,133
Issue of share capital
6
998
-
998
Dividends
-
(45,557)
(45,557)
Balance at 30 November 2023
1,000
98,576
99,576
&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 7 -
1
Accounting policies
Company information

&Stenball Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Heyworth Business Park, Old Portsmouth Road, Peasmarsh, Guildford, Surrey, GU3 1AF.

1.1
Reporting period

The company was incorporated on 16 May 2022 and did not commence to trade until 01 June 2022. Dormant accounts were filed from incorporation to 31 May 2022. The period end was subsequently extended to 30 November and this set of financial statements are drawn up from 01 June 2022 to 30 November 2023 and therefore the amounts presented in the financial statements are not entirely comparable.

1.2
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. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 8 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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.

&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 9 -
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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 10 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022
-
0
Additions
1,127
At 30 November 2023
1,127
Depreciation and impairment
At 1 June 2022
-
0
Depreciation charged in the period
207
At 30 November 2023
207
Carrying amount
At 30 November 2023
920
At 31 May 2022
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
14,248
-
0
Other debtors
405,184
-
0
419,432
-
0
&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 11 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
383,654
-
0
Corporation tax
38,600
-
0
Other taxation and social security
113,176
-
0
Other creditors
474,225
-
0
1,009,655
-
0
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
200
1
200
1
Ordinary B Shares of £1 each
200
1
200
1
Ordinary C Shares of £1 each
300
-
300
-
Ordinary D Shares of £1 each
300
-
300
-
1,000
2
1,000
2

In the prior period, the company was incorporated with 2 £1.00 Ordinary shares, issued at par for cash. On 1 June 2022, these shares were redesignated as 1 £1.00 Ordinary A Share and 1 £1.00 Ordinary B Share and a further 199 £1.00 Ordinary A Shares, 199 £1.00 Ordinary B Shares, 300 £1.00 Ordinary C Shares and 300 £1.00 Ordinary D Shares were then issued at par for cash to further establish the capital base of the company.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
990
-
0
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Other related parties
200
-
&STENBALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 12 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Dividends totalling £15,557 (2022 - £0) were paid in the period in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
D Tinson -
-
-
45,600
(55,600)
(10,000)
-
45,600
(55,600)
(10,000)
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