Company Registration No. 14604453 (England and Wales)
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Unaudited accounts
for the period from 19 January 2023 to 31 January 2024
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Unaudited accounts
Contents
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Company Information
for the period from 19 January 2023 to 31 January 2024
Company Number
14604453 (England and Wales)
Registered Office
85 Great Portland Street
London
W1W 7LT
United Kingdom
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Statement of financial position
as at 31 January 2024
Cash at bank and in hand
475
Creditors: amounts falling due within one year
(472,370)
Net current liabilities
(471,895)
Called up share capital
100
Profit and loss account
(52,271)
Shareholders' funds
(52,171)
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 August 2024 and were signed on its behalf by
A J H Jackson
Director
Company Registration No. 14604453
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Notes to the Accounts
for the period from 19 January 2023 to 31 January 2024
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited) is a private company, limited by shares, registered in England and Wales, registration number 14604453. The registered office is 85 Great Portland Street, London, W1W 7LT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements have been prepared on the basis that company is a going concern and this dependent on the continuing support of the company's director.
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 a mounts 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.
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Notes to the Accounts
for the period from 19 January 2023 to 31 January 2024
3.1 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 recognaised 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.
3.2 Cash at bank and in hand
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. Bank overdrafts are shown within borrowings in current liabilities.
3.3 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.
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.
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Notes to the Accounts
for the period from 19 January 2023 to 31 January 2024
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.
3.6 Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are 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 estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recgonised 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.
3.7 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.
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 .
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 50 years
Fixtures & fittings
20% reducing balance
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
Additions
400,009
41,168
441,177
At 31 January 2024
400,009
41,168
441,177
Charge for the period
13,219
8,234
21,453
At 31 January 2024
13,219
8,234
21,453
At 31 January 2024
386,790
32,934
419,724
Stoneleigh Kingsland Limited (Formerly Stoneleigh Leasing Limited)
Notes to the Accounts
for the period from 19 January 2023 to 31 January 2024
5
Creditors: amounts falling due within one year
2024
Loans from directors
462,385
6
Transactions with related parties
Included within creditors amount falling due within one year is an amount of £462,385 due to the director. The amount is repayable on demand.
7
Average number of employees
During the period the average number of employees was 1.