2023-01-012023-12-312023-12-31false01884773STANHOPE GARDENS 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STANHOPE GARDENS LIMITED

Registered Number
01884773
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

STANHOPE GARDENS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BOTTOMLEY, Michael David
STANHOPE, William Henry Leicester, Viscount Petersham

Company Secretary

STANHOPE, William Henry Leicester, Viscount Petersham

Registered Address

3 Acorn Business Park
Airedale Business Centre
Skipton
BD23 2UE

Registered Number

01884773 (England and Wales)
STANHOPE GARDENS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3265,021265,021
265,021265,021
Current assets
Debtors4184,360169,796
Cash at bank and on hand653272
185,013170,068
Creditors amounts falling due within one year5(353,679)(333,119)
Net current assets (liabilities)(168,666)(163,051)
Total assets less current liabilities96,355101,970
Net assets96,355101,970
Capital and reserves
Called up share capital22
Profit and loss account96,353101,968
Shareholders' funds96,355101,970
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2024, and are signed on its behalf by:
BOTTOMLEY, Michael David
Director
Registered Company No. 01884773
STANHOPE GARDENS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis accounting in preparing the financial statements.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year22
3.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 23265,021265,021
At 31 December 23265,021265,021
Net book value
At 31 December 23265,021265,021
At 31 December 22265,021265,021

Notes

1Investments in group undertakings and participating interests
4.Debtors: amounts due within one year

2023

2022

££
Amounts owed by group undertakings169,066145,061
Other debtors15,29424,735
Total184,360169,796
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.
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties22,48522,485
Other creditors331,194310,634
Total353,679333,119
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.
6.Related party transactions
The company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with the entities which are part of the group, since 100% of the voting rights in the company are controlled within the group and the company is included within the group accounts which are publicly available. Included in creditors, amounts falling due within one year, is an amount due to Halley Investment Company Limited of £560 (2022 - £9,440 debtor). The balance is interest free and repayable on demand. Included in debtors, amounts falling due within one year, is an amount due from The Stanhope Trust of £8,241 (2022 - £8,241). The balance is interest free and repayable on demand. Included in debtors, amounts falling due within one year, is an amount due from The Chesterfield Trust of £7,052 (2022 - £7,052). The balance is interest free and repayable on demand. Included in creditors, amounts falling due within one year, is an amount owed to Doublard Investment Company Limited of £22,485 (2022 - £22,485). The balance is interest free and repayable on demand. Included in creditors, amounts falling due within one year, is an amount owed to Elvaston Investments Limited of £330,383 (2022 - £310,383). The balance is interest free and repayable on demand. Elvaston Investments Limited is a wholly owned subsidiary of Halley Investment Company Limited, which in turn is owned by The Stanhope Trust, of which The 12th Earl of Harrington is the sole tenant.
7.Parent-subsidiary relationships
The company is a wholly owned subsidiary of Doublard Investment Company Limited. Doublard Investment Company Limited is incorporated and registered in Bermuda. The 12th Earl of Harrington is the sole life tenant of the Chesterfield Trust which owns 100% of the Share Capital of Doublard Investment Company Limited.
8.Further information regarding the company's financial position
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.