Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11819965 Carolyn Sewell John Sewell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11819965 2023-03-31 11819965 2024-03-31 11819965 2023-04-01 2024-03-31 11819965 frs-core:CurrentFinancialInstruments 2024-03-31 11819965 frs-core:ShareCapital 2024-03-31 11819965 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11819965 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11819965 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11819965 frs-bus:SmallEntities 2023-04-01 2024-03-31 11819965 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11819965 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11819965 frs-bus:Director1 2023-04-01 2024-03-31 11819965 frs-bus:Director2 2023-04-01 2024-03-31 11819965 frs-countries:EnglandWales 2023-04-01 2024-03-31 11819965 2022-03-31 11819965 2023-03-31 11819965 2022-04-01 2023-03-31 11819965 frs-core:CurrentFinancialInstruments 2023-03-31 11819965 frs-core:ShareCapital 2023-03-31 11819965 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11819965
Stone Clarkson Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11819965
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 395,000 395,000
395,000 395,000
CURRENT ASSETS
Cash at bank and in hand 1,950 3,854
1,950 3,854
Creditors: Amounts Falling Due Within One Year 5 (314,388 ) (316,091 )
NET CURRENT ASSETS (LIABILITIES) (312,438 ) (312,237 )
TOTAL ASSETS LESS CURRENT LIABILITIES 82,562 82,763
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,762 ) (9,762 )
NET ASSETS 72,800 73,001
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 72,700 72,901
SHAREHOLDERS' FUNDS 72,800 73,001
Page 1
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For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Carolyn Sewell
Director
09/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stone Clarkson Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11819965 . The registered office is c/o Sapphire8 Limited, Channel Court Hill Road, Clevedon, BS21 7NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover relates to rents receivable from the letting of the company's freehold investment property and is recognised on a straight line basis over the term of the tenancy.
2.4. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.Subsequently it is measured at fair value at the reporting period end date.Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 395,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 355,949 355,949
Investment property comprises 6 Trent Mews, Cowes, Isle of Wight, PO31 7QE and 16 St Wilfred Drive, East Cowes, Isle of Wight, PO32 6GQ. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the directors on 31 March 2024. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 811 587
Bank loans and overdrafts 226,593 226,593
Corporation tax 240 564
Accruals and deferred income 125 125
Directors' loan accounts 86,619 88,222
314,388 316,091
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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