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Company No: 10115524 (England and Wales)

STAMFORD NEW ROAD PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

STAMFORD NEW ROAD PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

STAMFORD NEW ROAD PROPERTY LIMITED

BALANCE SHEET

As at 30 November 2023
STAMFORD NEW ROAD PROPERTY LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 30.11.2023 30.11.2022
£ £
Current assets
Stocks 3 7,540,182 4,982,068
Debtors 4 7,198 25,163
Cash at bank and in hand 5 110 2,677
7,547,490 5,009,908
Creditors: amounts falling due within one year 6 ( 7,653,585) ( 4,982,021)
Net current (liabilities)/assets (106,095) 27,887
Total assets less current liabilities (106,095) 27,887
Creditors: amounts falling due after more than one year 7 ( 34,259) ( 39,850)
Net liabilities ( 140,354) ( 11,963)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 140,355 ) ( 11,964 )
Total shareholders' deficit ( 140,354) ( 11,963)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Stamford New Road Property Limited (registered number: 10115524) were approved and authorised for issue by the Director on 27 August 2024. They were signed on its behalf by:

Mr B Fearns
Director
STAMFORD NEW ROAD PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
STAMFORD NEW ROAD PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Stamford New Road Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2a Post Office Street, Altrincham, WA14 1QA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Year ended
30.11.2023
Period from
01.06.2021 to
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Stocks

30.11.2023 30.11.2022
£ £
Work in progress 7,540,182 4,982,068

4. Debtors

30.11.2023 30.11.2022
£ £
Trade debtors ( 19) ( 19)
Other debtors 7,217 25,182
7,198 25,163

5. Cash and cash equivalents

30.11.2023 30.11.2022
£ £
Cash at bank and in hand 110 2,677

6. Creditors: amounts falling due within one year

30.11.2023 30.11.2022
£ £
Bank loans 5,556 5,520
Trade creditors 1,948 285,466
Amounts owed to Group undertakings 5,911,347 3,124,783
Other creditors 1,734,734 1,566,252
7,653,585 4,982,021

7. Creditors: amounts falling due after more than one year

30.11.2023 30.11.2022
£ £
Bank loans 34,259 39,850

There are no amounts included above in respect of which any security has been given by the small entity.