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Company No: 09309933 (England and Wales)

STAUNTON PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

STAUNTON PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

STAUNTON PROPERTY LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
STAUNTON PROPERTY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Mr H Boulter
Mrs J Boulter
Mr J Rooth
Mrs E Rooth
REGISTERED OFFICE Culver Combe
Chudleigh
TQ13 0EL
United Kingdom
COMPANY NUMBER 09309933 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
STAUNTON PROPERTY LIMITED

BALANCE SHEET

As at 30 November 2023
STAUNTON PROPERTY LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 7,334 12,834
Tangible assets 4 6,665 7,596
13,999 20,430
Current assets
Debtors 5 213,146 153,027
Cash at bank and in hand 160,684 167,655
373,830 320,682
Creditors: amounts falling due within one year 6 ( 385,424) ( 421,949)
Net current liabilities (11,594) (101,267)
Total assets less current liabilities 2,405 (80,837)
Provision for liabilities ( 1,500) ( 1,900)
Net assets/(liabilities) 905 ( 82,737)
Capital and reserves
Called-up share capital 7 120 100
Profit and loss account 785 ( 82,837 )
Total shareholders' funds/(deficit) 905 ( 82,737)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Staunton Property Limited (registered number: 09309933) were approved and authorised for issue by the Board of Directors on 21 August 2024. They were signed on its behalf by:

Mr H Boulter
Director
Mr J Rooth
Director
STAUNTON PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
STAUNTON PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Staunton Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Culver Combe, Chudleigh, TQ13 0EL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services to customers.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to define contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 20 years straight line
Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 55,000 55,000
At 30 November 2023 55,000 55,000
Accumulated amortisation
At 01 December 2022 42,166 42,166
Charge for the financial year 5,500 5,500
At 30 November 2023 47,666 47,666
Net book value
At 30 November 2023 7,334 7,334
At 30 November 2022 12,834 12,834

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 20,851 20,851
Additions 2,055 2,055
At 30 November 2023 22,906 22,906
Accumulated depreciation
At 01 December 2022 13,255 13,255
Charge for the financial year 2,986 2,986
At 30 November 2023 16,241 16,241
Net book value
At 30 November 2023 6,665 6,665
At 30 November 2022 7,596 7,596

5. Debtors

2023 2022
£ £
Trade debtors 38,652 25,622
Other debtors 174,494 127,405
213,146 153,027

£116,640 (2022: £116,640) of a loan made to an associated company is classified as non current. The loan is interest free and repayable on 1 August 2027.

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,336 727
Amounts owed to associates 9,714 0
Amounts owed to directors 31,301 138,037
Accruals 78,298 5,775
Taxation and social security 183,415 60,410
Other creditors 81,360 217,000
385,424 421,949

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30 Ordinary A shares of £ 1.00 each (2022: 25 shares of £ 1.00 each) 30 25
30 Ordinary B shares of £ 1.00 each (2022: 25 shares of £ 1.00 each) 30 25
30 Ordinary C shares of £ 1.00 each (2022: 25 shares of £ 1.00 each) 30 25
30 Ordinary D shares of £ 1.00 each (2022: 25 shares of £ 1.00 each) 30 25
120 100

During the year, the company issued a further 5 shares of each share class to the existing shareholders. Shares were issued at par value.