Registered number
04580318
Stavecroft Limited
Report and Accounts
31 December 2023
Stavecroft Limited
Registered number: 04580318
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 634,333 633,248
Current assets
Stocks 8,920 9,809
Debtors 4 300 4,751
Cash at bank and in hand 2,966 40,448
12,186 55,008
Creditors: amounts falling due within one year 5 (79,144) (76,615)
Net current liabilities (66,958) (21,607)
Total assets less current liabilities 567,375 611,641
Creditors: amounts falling due after more than one year 6 (149,934) (199,850)
Provisions for liabilities (3,787) (3,581)
Net assets 413,654 408,210
Capital and reserves
Called up share capital 100 100
Profit and loss account 413,554 408,110
Shareholders' funds 413,654 408,210
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Vaughan
Director
Approved by the board on 5 September 2024
Stavecroft Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and equipment 15% on reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 613,451 98,175 711,626
Additions - 4,770 4,770
At 31 December 2023 613,451 102,945 716,396
Depreciation
At 1 January 2023 - 78,378 78,378
Charge for the year - 3,685 3,685
At 31 December 2023 - 82,063 82,063
Net book value
At 31 December 2023 613,451 20,882 634,333
At 31 December 2022 613,451 19,797 633,248
4 Debtors 2023 2022
£ £
Other debtors 300 4,751
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 44,786 46,179
Trade creditors 12,405 11,580
Corporation tax 1,043 -
Other taxes and social security costs 9,250 9,789
Other creditors 11,660 9,067
79,144 76,615
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 118,347 173,062
Other creditors 31,587 26,788
149,934 199,850
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 117,419 162,244
Secured on land and property.
8 Controlling party
The controlling party is A. Vaughan.
9 Other information
Stavecroft Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Sudley Terrace
High Street
Bognor Regis
West Sussex
PO21 1EY
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