Registered number
02811562
Steeplegrove Limited
Filleted Accounts
31 December 2023
Steeplegrove Limited
Registered number: 02811562
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111,253 124,043
Investments 4 499,524 495,476
610,777 619,519
Current assets
Stocks 143,393 133,237
Debtors 5 3,987,459 2,798,601
Cash at bank and in hand 318,098 1,180,555
4,448,950 4,112,393
Creditors: amounts falling due within one year 6 (155,494) (174,615)
Net current assets 4,293,456 3,937,778
Total assets less current liabilities 4,904,233 4,557,297
Provisions for liabilities (19,925) (19,925)
Net assets 4,884,308 4,537,372
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,884,306 4,537,370
Shareholders' funds 4,884,308 4,537,372
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.
Alpesh Bhupendra Patel
Director
Approved by the board on 17 September 2024
Steeplegrove 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing balance method
Motor vehicles 20% Reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 37
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 102,355 211,332 83,795 397,482
Additions - 1,259 - 1,259
At 31 December 2023 102,355 212,591 83,795 398,741
Depreciation
At 1 January 2023 56,244 176,803 40,392 273,439
Charge for the year - 5,368 8,681 14,049
At 31 December 2023 56,244 182,171 49,073 287,488
Net book value
At 31 December 2023 46,111 30,420 34,722 111,253
At 31 December 2022 46,111 34,529 43,403 124,043
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 100 495,376 495,476
Revaluation - 4,048 4,048
At 31 December 2023 100 499,424 499,524
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,431,701 1,223,601
Other debtors and prepayments 2,555,758 1,575,000
3,987,459 2,798,601
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 328 3,831
Trade creditors 86,460 100,227
Taxation and social security costs 61,706 46,119
Other creditors 7,000 24,438
155,494 174,615
7 Related party transactions
During the year £8,100 of Rent and Services were charged to Steeplegrove Clinic Limited, a subsidiary company registered in England and Wales. This is included within 'Amount owed by group undertakings'.
8 Due from group undertakings: 2023 2022
Steeplegrove Developments Limited 885,500 885,500
Steeplegrove Investment Ltd 87,706 87,706
Steeplegrove Clinic Limited 458,495 250,395
1,431,701 1,223,601
9 Other information
Steeplegrove Limited is a private company limited by shares and incorporated in England. Its registered office is:
37
North Audley Street
London
W1K 6ZL
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