REGISTERED NUMBER: |
Stocksfield Holdings Limited |
Unaudited Financial Statements |
for the year ended |
30th September 2023 |
REGISTERED NUMBER: |
Stocksfield Holdings Limited |
Unaudited Financial Statements |
for the year ended |
30th September 2023 |
Stocksfield Holdings Limited (Registered number: 09792322) |
Contents of the Financial Statements |
for the year ended 30th September 2023 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 6 |
Stocksfield Holdings Limited |
Company Information |
for the year ended 30th September 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Stocksfield Holdings Limited (Registered number: 09792322) |
Balance Sheet |
30th September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve | 9 | ( |
) | ( |
) |
Retained earnings |
Stocksfield Holdings Limited (Registered number: 09792322) |
Balance Sheet - continued |
30th September 2023 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Stocksfield Holdings Limited (Registered number: 09792322) |
Notes to the Financial Statements |
for the year ended 30th September 2023 |
1. | Statutory information |
Stocksfield Holdings Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Financial instruments |
The following assets and liabilities are classified as financial instruments - Inter company loans, accruals, bank overdraft, bank loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), accruals bank overdraft and inter company loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Stocksfield Holdings Limited (Registered number: 09792322) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2023 |
2. | Accounting policies - continued |
Going concern |
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Fixed asset investments |
Other |
investment |
£ |
Cost or valuation |
At 1st October 2022 |
and 30th September 2023 |
Net book value |
At 30th September 2023 |
At 30th September 2022 |
Cost or valuation at 30th September 2023 is represented by: |
Other |
investment |
£ |
Valuation in 2017 | (3,077,169 | ) |
Valuation in 2019 | (150,000 | ) |
Valuation in 2020 | 556,356 |
Valuation in 2021 | (358,572 | ) |
Cost | 4,813,670 |
1,784,285 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by associate companies |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to associate companies | 486,499 | 300 |
Other creditors |
Stocksfield Holdings Limited (Registered number: 09792322) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2023 |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors |
8. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Bank loans |
Other creditors | 39,100 | 39,100 |
Ruth Thompson and Coutts & Company both hold Floating Charges over the property or undertaking of the company. |
9. | Reserves |
Revaluatio |
reserve |
£ |
At 1st October 2022 |
and 30th September 2023 | ( |
) |