Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-3019200001157704true2022-12-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11067087 2022-12-01 2023-11-30 11067087 2021-12-01 2022-11-30 11067087 2023-11-30 11067087 2022-11-30 11067087 2 2022-12-01 2023-11-30 11067087 d:Director1 2022-12-01 2023-11-30 11067087 e:FreeholdInvestmentProperty 2022-12-01 2023-11-30 11067087 e:FreeholdInvestmentProperty 2023-11-30 11067087 e:FreeholdInvestmentProperty 2022-11-30 11067087 e:FreeholdInvestmentProperty 2 2022-12-01 2023-11-30 11067087 e:LeaseholdInvestmentProperty 2022-12-01 2023-11-30 11067087 e:LeaseholdInvestmentProperty 2023-11-30 11067087 e:LeaseholdInvestmentProperty 2022-11-30 11067087 e:LeaseholdInvestmentProperty 2 2022-12-01 2023-11-30 11067087 e:CurrentFinancialInstruments 2023-11-30 11067087 e:CurrentFinancialInstruments 2022-11-30 11067087 e:CurrentFinancialInstruments e:WithinOneYear 2023-11-30 11067087 e:CurrentFinancialInstruments e:WithinOneYear 2022-11-30 11067087 e:ShareCapital 2023-11-30 11067087 e:ShareCapital 2022-11-30 11067087 e:RevaluationReserve 2023-11-30 11067087 e:RevaluationReserve 2022-11-30 11067087 e:RetainedEarningsAccumulatedLosses 2023-11-30 11067087 e:RetainedEarningsAccumulatedLosses 2022-11-30 11067087 e:AcceleratedTaxDepreciationDeferredTax 2023-11-30 11067087 e:AcceleratedTaxDepreciationDeferredTax 2022-11-30 11067087 d:OrdinaryShareClass1 2022-12-01 2023-11-30 11067087 d:OrdinaryShareClass1 2023-11-30 11067087 d:OrdinaryShareClass1 2022-11-30 11067087 d:FRS102 2022-12-01 2023-11-30 11067087 d:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11067087 d:FullAccounts 2022-12-01 2023-11-30 11067087 d:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11067087 5 2022-12-01 2023-11-30 11067087 6 2022-12-01 2023-11-30 11067087 f:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11067087









STANMAUR PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
STANMAUR PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STANMAUR PROPERTIES LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of STANMAUR PROPERTIES LIMITED for the year ended 30 November 2023 which comprise  the Balance Sheet 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 STANMAUR PROPERTIES LIMITED, as a body, in accordance with the terms of our engagement letter dated 30th March 2020Our work has been undertaken solely to prepare for your approval the financial statements of STANMAUR PROPERTIES LIMITED and state those matters that we have agreed to state to the Board of Directors of STANMAUR PROPERTIES LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STANMAUR PROPERTIES LIMITED and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that STANMAUR PROPERTIES 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 STANMAUR PROPERTIES LIMITED. You consider that STANMAUR PROPERTIES LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of STANMAUR PROPERTIES 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.

  



Hurkan Sayman & Co
 
Chartered Accountants
  
291 Green Lanes
Palmers Green
London
N13 4XS
21 August 2024
Page 1

 
STANMAUR PROPERTIES LIMITED
REGISTERED NUMBER: 11067087

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
178
-

Investment property
 5 
960,000
578,852

  
960,178
578,852

Current assets
  

Cash at bank and in hand
 6 
20,201
13,254

  
20,201
13,254

Creditors: amounts falling due within one year
 7 
(834,722)
(582,585)

Net current liabilities
  
 
 
(814,521)
 
 
(569,331)

Total assets less current liabilities
  
145,657
9,521

Provisions for liabilities
  

Deferred tax
  
(25,405)
-

  
 
 
(25,405)
 
 
-

Net assets
  
120,252
9,521


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
76,217
-

Profit and loss account
  
43,935
9,421

  
120,252
9,521


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2

 
STANMAUR PROPERTIES LIMITED
REGISTERED NUMBER: 11067087
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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




Tolga Paphiti
Director

Date: 21 August 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

STANMAUR PROPERTIES LIMITED is a private company limited by share capital, Incorporated in England and Wales, registration number 11067087. The address of the registered office is 291 Green Lanes, Palmers Green, London, N13 4XS.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Rental income from investment properties is recognised on a straight-line basis over the term of the lease. The revenue recognition commences when the tenant take possession or controls the physical use of the lease space.

 
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.

 
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.

Page 4

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the Director 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 profit or loss.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
178



At 30 November 2023
178




Page 7

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 December 2022
578,852
-
578,852


Additions at cost
69,526
210,000
279,526


Surplus on revaluation
101,622
-
101,622



At 30 November 2023
750,000
210,000
960,000

The 2023 valuations were made by the Directors, on an open market value for existing use basis.





6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,201
13,254

20,201
13,254



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
4,450
4,450

Corporation tax
9,262
2,210

Other creditors
819,570
574,485

Accruals and deferred income
1,440
1,440

834,722
582,585



8.


Deferred taxation

Page 8

 
STANMAUR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
8.Deferred taxation (continued)




2023


£






Charged to profit or loss
(25,405)



At end of year
(25,405)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fair value movements
(25,405)
-

(25,405)
-


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

Included within other creditors at the year end is a loan amount of £534,131 (2022: £518,485) due to the Director. The loan is unsecured and repayable on demand. The loan is unsecured, free of interest and repayable on demand. 
Included within other creditors due within less than 1 year is a loan amount of £13,000 (2022: £46,000) due to a company under common control. The loan is unsecured, free of interest and repayable on demand. 
Included within other creditors due within less than 1 year is a loan amount of £272,439 due to a company controlled by an immediate family member. The loan is unsecured, free of interest and repayable on demand. 

 

 
Page 9