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Registration number: 02084701

Steeple Court Limited

Unaudited Filleted Financial Statements

for the Period from 30 May 2022 to 28 May 2023

 

Steeple Court Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Steeple Court Limited

Company Information

Directors

Mr Andrew Howard

Mrs Marion Bokkelkamp

Mr Stuart Bizley

Company secretary

Mrs Marion Bokkelkamp

Registered office

1 Princes House
Princes Street
Norwich
NR3 1FH

 

Steeple Court Limited

(Registration number: 02084701)
Balance Sheet as at 28 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

37,356

32,076

Current assets

 

Stocks

5

4,127,508

4,212,508

Debtors

6

520,203

307,972

Cash at bank and in hand

 

172,850

455,676

 

4,820,561

4,976,156

Creditors: Amounts falling due within one year

7

(378,800)

(381,780)

Net current assets

 

4,441,761

4,594,376

Total assets less current liabilities

 

4,479,117

4,626,452

Creditors: Amounts falling due after more than one year

7

(4,237,491)

(4,403,737)

Net assets

 

241,626

222,715

Capital and reserves

 

Called up share capital

8

140,970

140,970

Retained earnings

100,656

81,745

Shareholders' funds

 

241,626

222,715

 

Steeple Court Limited

(Registration number: 02084701)
Balance Sheet as at 28 May 2023

For the financial period ending 28 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Howard
Director

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Princes House
Princes Street
Norwich
NR3 1FH

These financial statements were authorised for issue by the Board on 26 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

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 defined 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5 (2022 - 4).

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 30 May 2022

85,560

60,505

146,065

Additions

15,999

-

15,999

At 28 May 2023

101,559

60,505

162,064

Depreciation

At 30 May 2022

82,997

31,462

114,459

Charge for the period

641

9,608

10,249

At 28 May 2023

83,638

41,070

124,708

Carrying amount

At 28 May 2023

17,921

19,435

37,356

At 29 May 2022

3,033

29,043

32,076

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

5

Stocks

2023
£

2022
£

Work in progress

3,887,865

3,887,865

Finished goods and goods for resale

237,143

322,143

Other inventories

2,500

2,500

4,127,508

4,212,508

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

5,000

Prepayments

10,463

6,388

Other debtors

509,740

296,584

 

520,203

307,972

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

180,693

187,293

Trade creditors

 

132,959

89,487

Taxation and social security

 

32,250

24,829

Accruals and deferred income

 

32,086

28,760

Other creditors

 

812

51,411

 

378,800

381,780

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

4,237,491

4,403,737

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A Shares of £1 each

96,029

96,029

96,029

96,029

Ordinary B Shares of £1 each

46,941

46,941

46,941

46,941

142,970

142,970

142,970

142,970

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

4,237,491

4,403,737

Current loans and borrowings

 

Steeple Court Limited

Notes to the Unaudited Financial Statements for the Period from 30 May 2022 to 28 May 2023

2023
£

2022
£

Bank borrowings

180,693

187,293