Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-312023-01-312022-02-01falseProperty investment and management12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08829483 2022-02-01 2023-01-31 08829483 2021-02-01 2022-01-31 08829483 2023-01-31 08829483 2022-01-31 08829483 2021-02-01 08829483 5 2022-02-01 2023-01-31 08829483 5 2021-02-01 2022-01-31 08829483 d:Director1 2022-02-01 2023-01-31 08829483 e:FreeholdInvestmentProperty 2022-02-01 2023-01-31 08829483 e:FreeholdInvestmentProperty 2023-01-31 08829483 e:FreeholdInvestmentProperty 2022-01-31 08829483 e:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 08829483 e:CurrentFinancialInstruments 2023-01-31 08829483 e:CurrentFinancialInstruments 2022-01-31 08829483 e:Non-currentFinancialInstruments 2023-01-31 08829483 e:Non-currentFinancialInstruments 2022-01-31 08829483 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 08829483 e:CurrentFinancialInstruments e:WithinOneYear 2022-01-31 08829483 e:Non-currentFinancialInstruments e:AfterOneYear 2023-01-31 08829483 e:Non-currentFinancialInstruments e:AfterOneYear 2022-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-01-31 08829483 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-01-31 08829483 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-01-31 08829483 e:ShareCapital 2022-02-01 2023-01-31 08829483 e:ShareCapital 2023-01-31 08829483 e:ShareCapital 2021-02-01 2022-01-31 08829483 e:ShareCapital 2022-01-31 08829483 e:ShareCapital 2021-02-01 08829483 e:RevaluationReserve 2022-02-01 2023-01-31 08829483 e:RevaluationReserve 2023-01-31 08829483 e:RevaluationReserve 5 2022-02-01 2023-01-31 08829483 e:RevaluationReserve 2021-02-01 2022-01-31 08829483 e:RevaluationReserve 2022-01-31 08829483 e:RevaluationReserve 2021-02-01 08829483 e:RevaluationReserve 5 2021-02-01 2022-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2023-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2022-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2021-02-01 08829483 e:AcceleratedTaxDepreciationDeferredTax 2023-01-31 08829483 e:AcceleratedTaxDepreciationDeferredTax 2022-01-31 08829483 d:FRS102 2022-02-01 2023-01-31 08829483 d:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08829483 d:FullAccounts 2022-02-01 2023-01-31 08829483 d:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08829483 5 2022-02-01 2023-01-31 08829483 f:PoundSterling 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 08829483










PAUL STALLARD PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
PAUL STALLARD PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAUL STALLARD PROPERTIES LIMITED
FOR THE YEAR ENDED 31 JANUARY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Stallard Properties Limited for the year ended 31 January 2023 which comprise  the Statement of financial position, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Paul Stallard Properties Limited in accordance with the terms of our engagement letter dated 25th May 2023Our work has been undertaken solely to prepare for your approval the financial statements of Paul Stallard Properties Limited and state those matters that we have agreed to state to the director of Paul Stallard Properties Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Stallard Properties Limited and its director for our work or for this report. 

It is your duty to ensure that Paul Stallard Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Paul Stallard Properties Limited. You consider that Paul Stallard Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Paul Stallard Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
20 September 2024
Page 1

 
PAUL STALLARD PROPERTIES LIMITED
REGISTERED NUMBER: 08829483

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
£
£

Fixed assets
  

Investment property
  
473,969
541,000

  
473,969
541,000

Current assets
  

Cash at bank and in hand
  
1,464
23,019

  
1,464
23,019

Creditors: amounts falling due within one year
 5 
(58,128)
(100,243)

Net current liabilities
  
 
 
(56,664)
 
 
(77,224)

Total assets less current liabilities
  
417,305
463,776

Creditors: amounts falling due after more than one year
 6 
(312,009)
(359,677)

Provisions for liabilities
  

Deferred tax
 8 
(26,253)
(27,742)

  
 
 
(26,253)
 
 
(27,742)

Net assets
  
79,043
76,357


Capital and reserves
  

Called up share capital 
  
99
99

Revaluation reserve
  
158,266
133,079

Profit and loss account
  
(79,322)
(56,821)

  
79,043
76,357


Page 2

 
PAUL STALLARD PROPERTIES LIMITED
REGISTERED NUMBER: 08829483
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 September 2024.




P E Stallard
Director

The notes on pages 6 to 12 form part of these financial statements.

Page 3

 
PAUL STALLARD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2022
99
133,079
(56,821)
76,357


Comprehensive income for the year

Loss for the year

-
-
(4,043)
(4,043)

Transfer to revaluation reserve
-
-
(18,458)
(18,458)


Other comprehensive income for the year
-
-
(18,458)
(18,458)


Total comprehensive income for the year
-
-
(22,501)
(22,501)


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
25,187
-
25,187


Total transactions with owners
-
25,187
-
25,187


At 31 January 2023
99
158,266
(79,322)
79,043


The notes on pages 6 to 12 form part of these financial statements.

Page 4

 
PAUL STALLARD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2021
99
79,190
(66,631)
12,658


Comprehensive income for the year

Profit for the year

-
-
63,699
63,699

Transfer to revaluation reserve
-
-
(53,889)
(53,889)


Other comprehensive income for the year
-
-
(53,889)
(53,889)


Total comprehensive income for the year
-
-
9,810
9,810


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
53,889
-
53,889


Total transactions with owners
-
53,889
-
53,889


At 31 January 2022
99
133,079
(56,821)
76,357


The notes on pages 6 to 12 form part of these financial statements.

Page 5

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

Going concern

At 31st January 2023, the Company had net distributable reserves of £(79,322).  The Company is reliant on the support of the director.  It is the intention of the director to support the company and therefore these accounts have been prepared on a going concern basis.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 6

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)

 
1.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 7

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)

 
1.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
1.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 08829483
Its Registered Office is:
119 Broad Oak Way
Stevenage
Herts
SG2 8RB
 


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
1
2


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
541,000


Disposals
(84,000)


Surplus on revaluation
16,969



At 31 January 2023
473,969

The 2023 valuations were made by Fleet Mortgages Limited, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
289,450
372,450

289,450
372,450

Page 9

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,883
8,664

Corporation tax
3,329
1,368

Other creditors
44,596
88,891

Accruals and deferred income
1,320
1,320

58,128
100,243



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
277,042
324,710

Other creditors
34,967
34,967

312,009
359,677


The following liabilities were secured:

2023
2022
£
£



Bank loans
253,837
292,625

253,837
292,625

Details of security provided:

The company owns various investment properties, the properties have borrowings secured on them.  The borrowings are secured in favour of the relevant bank that the finance has been obtained.  The charges include fixed and floating charges as well as negative pledges against specific properties.  The total amount of secured borrowings if £252,837, all of which is due over one year due to the mortgages being on interest only repayment terms.

Page 10

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,883
8,664


8,883
8,664

Amounts falling due 1-2 years

Bank loans
9,107
-


9,107
-

Amounts falling due 2-5 years

Bank loans
14,095
32,085


14,095
32,085

Amounts falling due after more than 5 years

Bank loans
253,839
292,625

253,839
292,625

285,924
333,374


Included in bank loans and overdrafts due under one year is £8,883 and due over one year is £9,107 and £14,095 relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.


8.


Deferred taxation




2023


£






At beginning of year
(27,742)


Utilised in year
1,489



At end of year
(26,253)

Page 11

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(26,253)
(27,742)

(26,253)
(27,742)


9.


Related party transactions

The amount due to the director P E Stallard and included in other creditors at the reporting date was £44,595; (2022: £87,745). The loan does not attract a rate of interest and is repayable on demand.

 
Page 12