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REGISTERED NUMBER: NI617778 (Northern Ireland)













Stanley Livingstone Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Stanley Livingstone Limited (Registered number: NI617778)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 7


Stanley Livingstone Limited

Company Information
for the Year Ended 31 March 2024







Director: Mr S Livingstone





Registered office: 14 Wilsontown Road
Armagh
Co Armagh
BT60 4QF





Registered number: NI617778 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Stanley Livingstone Limited (Registered number: NI617778)

Statement of Financial Position
31 March 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 - -
Property, plant and equipment 5 887,690 935,890
887,690 935,890

Current assets
Inventories 2,500 102,774
Receivables 6 71,712 7,996
Cash at bank 128,438 140,449
202,650 251,219
Payables
Amounts falling due within one year 7 (261,578 ) (315,877 )
Net current liabilities (58,928 ) (64,658 )
Total assets less current liabilities 828,762 871,232

Payables
Amounts falling due after more than one
year

8

(244,476

)

(315,245

)

Provisions for liabilities 9 (100,290 ) (104,510 )
Net assets 483,996 451,477

Capital and reserves
Called up share capital 10 1 1
Retained earnings 483,995 451,476
Shareholders' funds 483,996 451,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Stanley Livingstone Limited (Registered number: NI617778)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





Mr S Livingstone - Director


Stanley Livingstone Limited (Registered number: NI617778)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Stanley Livingstone Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business. Goodwill is amortised over the period in which the benefits are expected to arise, taking account of the evolving nature of the goodwill of the business.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Long leasehold - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Stanley Livingstone Limited (Registered number: NI617778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. Accounting policies - continued

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The carrying amount of the assets is disclosed at Property, plant and equipment note and the useful economic lives for each class of asset is noted above.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 100,000
Amortisation
At 1 April 2023
and 31 March 2024 100,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

Stanley Livingstone Limited (Registered number: NI617778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. Property, plant and equipment
Fixtures
Freehold Long Plant and and
property leasehold machinery fittings Totals
£ £ £ £ £
Cost
At 1 April 2023 614,692 65,467 930,982 1,723 1,612,864
Additions - - 104,200 - 104,200
Disposals - - (76,000 ) - (76,000 )
At 31 March 2024 614,692 65,467 959,182 1,723 1,641,064
Depreciation
At 1 April 2023 171,647 11,959 492,475 893 676,974
Charge for year 24,588 2,619 61,277 124 88,608
Eliminated on disposal - - (12,208 ) - (12,208 )
At 31 March 2024 196,235 14,578 541,544 1,017 753,374
Net book value
At 31 March 2024 418,457 50,889 417,638 706 887,690
At 31 March 2023 443,045 53,508 438,507 830 935,890

6. Receivables: amounts falling
due within one year
2024 2023
£ £
Trade debtors 26,078 -
VAT 5,531 3,458
Corporation tax 40,103 4,538
71,712 7,996

7. Payables: amounts falling due
within one year
2024 2023
£ £
Bank loans and overdrafts 59,642 78,323
Hire purchase contracts 50,972 30,233
Trade payables 93,068 31,507
Taxation and social security 6,732 8,111
Other payables 51,164 167,703
261,578 315,877

Included within other payables is an amount of £44,174 (2023: £61,258) owing to the director, Mr S Livingstone.

8. Payables: amounts falling due
after more than one year
2024 2023
£ £
Bank loans 239,232 294,267
Hire purchase contracts 5,244 20,978
244,476 315,245

Stanley Livingstone Limited (Registered number: NI617778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 100,290 104,510

Deferred tax
£
Balance at 1 April 2023 104,510
Provided during year (4,220 )
Balance at 31 March 2024 100,290

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary shares 1 1 1

11. Director's advances, credits and guarantees

The following loans to the company from a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£ £
Mr S Livingstone
Balance outstanding at start of year 61,258 85,624
Amounts advanced 1,000 5,500
Amounts repaid (18,084 ) (29,866 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,174 61,258