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REGISTERED NUMBER: 05686462 (England and Wales)









Financial Statements

for the Year Ended 31 December 2023

for

Stein Financial Limited

Stein Financial Limited (Registered number: 05686462)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Stein Financial Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R D Stein
Mrs N McCormack





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 05686462 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Stein Financial Limited (Registered number: 05686462)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 171,796 172,791
171,796 172,791

CURRENT ASSETS
Debtors 6 2,327 2,453
Cash at bank 52,672 46,283
54,999 48,736
CREDITORS
Amounts falling due within one year 7 141,250 150,061
NET CURRENT LIABILITIES (86,251 ) (101,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,545

71,466

PROVISIONS FOR LIABILITIES 1,401 -
NET ASSETS 84,144 71,466

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 79,144 66,466
SHAREHOLDERS' FUNDS 84,144 71,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





R D Stein - Director


Stein Financial Limited (Registered number: 05686462)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Stein Financial 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.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover represents the invoiced value of fees and commissions less provision for clawbacks, excluding value added tax.

Goodwill
Goodwill on the acquisition of a business in 2006 has been fully amortised over its useful life.

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 - 2% on cost
Fixtures and fittings - 25% Straight line

Freehold land is not depreciated.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

Stein Financial Limited (Registered number: 05686462)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 150,000
AMORTISATION
At 1 January 2023
and 31 December 2023 150,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2023 167,739 9,924 177,663
Additions 1,676 3,425 5,101
At 31 December 2023 169,415 13,349 182,764
DEPRECIATION
At 1 January 2023 242 4,630 4,872
Charge for year 2,982 3,114 6,096
At 31 December 2023 3,224 7,744 10,968
NET BOOK VALUE
At 31 December 2023 166,191 5,605 171,796
At 31 December 2022 167,497 5,294 172,791

Included in cost of land and buildings is freehold land of £ 20,000 (2022 - £ 20,000 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 2,327 2,453

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 18,339 16,913
Social security and other taxes 655 648
Other creditors - 120
Directors' current accounts 119,311 128,413
Accruals and deferred income 2,945 3,967
141,250 150,061