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Registered number: 02503465










STOCKBOURNE MANAGEMENT LIMITED

UNAUDITED
DIRECTORS' REPORT 
 AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2023
 






 



 






 
STOCKBOURNE MANAGEMENT LIMITED
 

COMPANY INFORMATION


Directors
M J Rickards FRICS 
D J Williams MRICS 




Company secretary
M J Rickards



Registered number
02503465



Registered office
Suite 1, Silwood Business Centre
Silwood Park, Buckhurst Road

Ascot

Berkshire

SL5 7PW




Accountants
Wellden Turnbull Limited

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
STOCKBOURNE MANAGEMENT LIMITED
 

CONTENTS



Page
Directors' report
 
 
1
Statement of income and retained earnings
 
 
2
Balance sheet
 
 
3
Notes to the financial statements
 
 
4 - 8


 
STOCKBOURNE MANAGEMENT LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

The Directors present their report and the financial statements for the year ended 31 October 2023.

Principal activity

The Company's principal activity during the year under review continued to be the managing of commercial and industrial properties.

Directors

The Directors who served during the year were:

M J Rickards FRICS 
D J Williams MRICS 

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M J Rickards FRICS
Director

Date: 24 September 2024

Page 1

 
STOCKBOURNE MANAGEMENT LIMITED
 

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
£
£

  

Turnover
  
328,784
371,247

Gross profit
  
328,784
371,247

Administrative expenses
  
(329,481)
(319,804)

Operating (loss)/profit
  
(697)
51,443

Tax on (loss)/profit
  
-
(9,818)

(Loss)/profit after tax
  
(697)
41,625

  

  

Retained earnings at the beginning of the year
  
(36,549)
(78,174)

(Loss)/profit for the year
  
(697)
41,625

Retained earnings at the end of the year
  
(37,246)
(36,549)
The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
STOCKBOURNE MANAGEMENT LIMITED
REGISTERED NUMBER: 02503465

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
                                                                          Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,430,196
1,958,067

Cash at bank and in hand
  
18,234
11,354

  
2,448,430
1,969,421

Creditors: amounts falling due within one year
 5 
(2,485,674)
(2,005,968)

Net current liabilities
  
 
 
(37,244)
 
 
(36,547)

Total assets less current liabilities
  
(37,244)
(36,547)

  

Net liabilities
  
(37,244)
(36,547)


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
 7 
(37,246)
(36,549)

Shareholders' deficit
  
(37,244)
(36,547)


The Directors consider 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 Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Rickards FRICS
Director

Date: 24 September 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
STOCKBOURNE MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Stockbourne Management Limited is a private company, limited by shares, and incorporated in England and Wales, registered number 02503465. The registered office is: Suite 1, Silwood Business Centre, Silwood Park, Buckhurst Road, Ascot, Berkshire, SL5 7PW.

2.Accounting policies

 
2.1

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 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.
These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

  
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Management fee income is recognised over the period of time the services are contracted for.

 
2.4

Going concern

The financial statements have been prepared on a going concern basis because the company continues to meet its obligations as and when they arise and the amounts owed to Group companies will not be called upon to the detriment of the company continuing to be a going concern.
The financial statements have been prepared on a going concern basis as the directors believe that the Company will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. In doing so the directors have considered the Company's business model and availability of cash resources. The directors consider it appropriate therefore to prepare the financial statements on a going concern basis.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

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.

Page 4

 
STOCKBOURNE MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 5

 
STOCKBOURNE MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

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

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 5).

Page 6

 
STOCKBOURNE MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2,423,219
1,957,589

Other debtors
6,977
478

2,430,196
1,958,067



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,407,290
1,986,630

Corporation tax
-
9,818

Other taxation and social security
78,384
9,520

2,485,674
2,005,968



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



7.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends and other adjustments.


8.


Group security

The Company is part of the group headed by Stockbourne Group Limited. Within the Group there are bank loans where the debt is secured by a fixed and floating charged over all the assets of the Group.


9.


Related party transactions

The Company has taken the exemption under Financial Reporting Standard 102 (FRS102) Section 33 paragraph 1A not to disclose transactions and balances with its parent and fellow subsidiary companies on the basis it is a wholly owned subsidiary.

Page 7

 
STOCKBOURNE MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Parent company

Stockbourne Group Limited is the parent company. The registered office and principal place of buisness is, Suite 1, Silwood Business Centre Silwood Park Buckhurst Road Ascot SL5 7PW.
The smallest and largest group of undertakings into which the results of the Company are consolidated is headed by Stockbourne Group Limited. The consolidated financial statements can be obtained from Companies House. 


Page 8