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REGISTERED NUMBER: 01944046 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Stag Developments Limited

Stag Developments Limited (Registered number: 01944046)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stag Developments Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: M P Robinson
Mrs J M Robinson
D S R Robinson
W M Robinson





SECRETARY: D S R Robinson





REGISTERED OFFICE: Stag House
Giddynap Lane
Inchbrook
Stroud
Gloucestershire
GL5 5EZ





REGISTERED NUMBER: 01944046 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Stag Developments Limited (Registered number: 01944046)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 238 353
Investments 5 200 200
Investment property 6 1,770,000 1,960,000
1,770,438 1,960,553

CURRENT ASSETS
Stocks 7 246,795 246,638
Debtors 8 968,290 917,990
Cash at bank 56,717 7,812
1,271,802 1,172,440
CREDITORS
Amounts falling due within one year 9 680,095 733,176
NET CURRENT ASSETS 591,707 439,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,362,145

2,399,817

CREDITORS
Amounts falling due after more than one
year

10

612,832

658,611
NET ASSETS 1,749,313 1,741,206

CAPITAL AND RESERVES
Called up share capital 12 184,684 184,684
Share premium 134,043 134,043
Revaluation reserve 13 621,732 721,732
Retained earnings 808,854 700,747
SHAREHOLDERS' FUNDS 1,749,313 1,741,206

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 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.

Stag Developments Limited (Registered number: 01944046)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mrs J M Robinson - Director


Stag Developments Limited (Registered number: 01944046)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Stag Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover in respect of the company's investment property portfolio represents rental income, recharged utility and related costs, arising from operating leases, excluding VAT. The company recognises revenue on a straight line accruals basis.

Turnover in respect of development property sales is recognised at the point of exchange where the risks and rewards of ownership are effectively transferred to the buyer.

Revenue from management charges to subsidiary undertakings is recognised on a straight line accruals basis and represent the recharge of costs incurred in respect of the transaction.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fittings and equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost or net realisable value and comprises property purchased for redevelopment and redevelopment costs incurred to date.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Stag Developments Limited (Registered number: 01944046)

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

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

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. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Stag Developments Limited (Registered number: 01944046)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Furniture,
fittings
and
equipment
£   
COST
At 1 April 2023
and 31 March 2024 3,796
DEPRECIATION
At 1 April 2023 3,443
Charge for year 115
At 31 March 2024 3,558
NET BOOK VALUE
At 31 March 2024 238
At 31 March 2023 353

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200
At 31 March 2023 200

Stag Developments Limited (Registered number: 01944046)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,960,000
Disposals (190,000 )
At 31 March 2024 1,770,000
NET BOOK VALUE
At 31 March 2024 1,770,000
At 31 March 2023 1,960,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2002 93,848
Valuation in 2011 102,146
Valuation in 2013 (10,000 )
Valuation in 2015 10,738
Valuation in 2016 55,000
Valuation in 2017 5,000
Valuation in 2020 115,000
Valuation in 2022 180,000
Valuation in 2023 170,000
Valuation in 2024 (100,000 )
Cost 1,148,268
1,770,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,148,268 1,238,268

The freehold investment properties were revalued by the directors in 2024 on an open market value for existing use basis.

The valuation of £1,770,000 at 31 March 2024 comprises original costs of £1,148,268 and accumulated revaluations totalling £621,732.

7. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 246,795 246,638

Stag Developments Limited (Registered number: 01944046)

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

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,129 6,915
Amounts owed by group undertakings 943,051 900,103
Social security and other taxes 8,136 10,484
Prepayments and accrued income 8,974 488
968,290 917,990

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 21,802 25,337
Other loans 593,682 689,995
Trade creditors 4,089 2,343
Social security and other taxes 1,823 2,316
VAT 50,242 209
Accruals and deferred income 8,457 12,976
680,095 733,176

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 612,832 658,611

The existing bank loan was repaid in full in the year (2023: £622,500).

A new bank loan of £600,000 was taken out in the financial year. It is repayable by instalments over 5 years. Interest is charged on the bank loan at 2.35% p.a. over the Bank of England Base Rate.

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 634,634 683,948

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
184,684 Ordinary £1 184,684 184,684

Stag Developments Limited (Registered number: 01944046)

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

13. RESERVES
Revaluation
reserve
£   
At 1 April 2023 721,732
Released on disposal (100,000 )

At 31 March 2024 621,732