Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312023-10-3122022-11-01falseBuying and selling of own real estate/other letting and operating of own or leased real estate.2truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14315155 2022-11-01 2023-10-31 14315155 2022-08-24 2022-10-31 14315155 2023-10-31 14315155 2022-10-31 14315155 2022-08-24 14315155 1 2022-11-01 2023-10-31 14315155 1 2022-08-24 2022-10-31 14315155 2 2022-11-01 2023-10-31 14315155 7 2022-11-01 2023-10-31 14315155 d:Director1 2022-11-01 2023-10-31 14315155 d:Director2 2022-11-01 2023-10-31 14315155 d:RegisteredOffice 2022-11-01 2023-10-31 14315155 e:FreeholdInvestmentProperty 2022-11-01 2023-10-31 14315155 e:FreeholdInvestmentProperty 2023-10-31 14315155 e:FreeholdInvestmentProperty 2022-10-31 14315155 e:FreeholdInvestmentProperty 2 2022-11-01 2023-10-31 14315155 e:CurrentFinancialInstruments 2023-10-31 14315155 e:CurrentFinancialInstruments 2022-10-31 14315155 e:Non-currentFinancialInstruments 2023-10-31 14315155 e:Non-currentFinancialInstruments 2022-10-31 14315155 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 14315155 e:CurrentFinancialInstruments e:WithinOneYear 2022-10-31 14315155 e:Non-currentFinancialInstruments e:AfterOneYear 2023-10-31 14315155 e:Non-currentFinancialInstruments e:AfterOneYear 2022-10-31 14315155 e:ShareCapital 2023-10-31 14315155 e:ShareCapital 2022-08-24 2022-10-31 14315155 e:ShareCapital 2022-10-31 14315155 e:RevaluationReserve 2023-10-31 14315155 e:RevaluationReserve 2 2022-11-01 2023-10-31 14315155 e:RevaluationReserve 7 2022-11-01 2023-10-31 14315155 e:RevaluationReserve 2022-10-31 14315155 e:InvestmentPropertiesRevaluationReserve 2022-11-01 2023-10-31 14315155 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 14315155 e:RetainedEarningsAccumulatedLosses 2023-10-31 14315155 e:RetainedEarningsAccumulatedLosses 2 2022-11-01 2023-10-31 14315155 e:RetainedEarningsAccumulatedLosses 2022-08-24 2022-10-31 14315155 e:RetainedEarningsAccumulatedLosses 2022-10-31 14315155 e:AcceleratedTaxDepreciationDeferredTax 2023-10-31 14315155 e:AcceleratedTaxDepreciationDeferredTax 2022-10-31 14315155 d:OrdinaryShareClass1 2022-11-01 2023-10-31 14315155 d:OrdinaryShareClass1 2023-10-31 14315155 d:OrdinaryShareClass1 2022-10-31 14315155 d:FRS102 2022-11-01 2023-10-31 14315155 d:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 14315155 d:FullAccounts 2022-11-01 2023-10-31 14315155 d:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 14315155 f:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 14315155










STOCKBOURNE (WEM) LTD

UNAUDITED
DIRECTORS' REPORT
AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2023
 






 



 






 
STOCKBOURNE (WEM) LTD
 

COMPANY INFORMATION


Directors
Mr M J Rickards 
Mr D J Williams 




Registered number
14315155



Registered office
Suite 1 Silwood Business Centre
Silwood Park

Buckhurst Road

Ascot

Berkshire

SL5 7PW




Accountants
Wellden Turnbull Limited
Chartered Accountants

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
STOCKBOURNE (WEM) LTD
 

CONTENTS



Page
Directors' Report
 
 
1
Accountants' Report
 
 
2
Statement of Comprehensive Income
 
 
3
Balance Sheet
 
 
4 - 5
Statement of Changes in Equity
 
 
6
Notes to the Financial Statements
 
 
7 - 11


 
STOCKBOURNE (WEM) LTD
 

 
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.

Directors

The Directors who served during the year were:

Mr M J Rickards 
Mr D J Williams 

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.
 





Mr M J Rickards
Director

Date: 24 September 2024

Page 1

 
STOCKBOURNE (WEM) LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STOCKBOURNE (WEM) LTD
FOR THE YEAR ENDED 31 OCTOBER 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 Stockbourne (WEM) Ltd for the year ended 31 October 2023 which comprise the Statement of Comprehensive Income, the Balance Sheet, 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.

It is your duty to ensure that Stockbourne (WEM) Ltd 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 profit of Stockbourne (WEM) Ltd. You consider that Stockbourne (WEM) Ltd 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 Stockbourne (WEM) Ltd. 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.

  



Wellden Turnbull Limited
 
Chartered Accountants
  
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ

24 September 2024
Page 2

 
STOCKBOURNE (WEM) LTD
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2023

Year ended
31 October
Period ended
31 October
2023
2022
£
£

  

Turnover
  
536,151
23,308

Cost of sales
  
(151,593)
-

Gross profit
  
384,558
23,308

Administrative expenses
  
39,268
(5,300)

Other operating income
  
5,853
184

Fair value movements
  
44,100
-

Operating profit
  
473,779
18,192

Interest receivable and similar income
  
110
-

Interest payable and similar expenses
  
(177,568)
(3,674)

Profit before tax
  
296,321
14,518

Tax on profit
  
(14,254)
(3,671)

Profit for the financial year
  
282,067
10,847

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

The notes on pages 7 to 11 form part of these financial statements.

Page 3

 
STOCKBOURNE (WEM) LTD
REGISTERED NUMBER: 14315155

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
                                                                        Note
£
£

Fixed assets
  

Investment property
 4 
4,325,000
4,325,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,025,431
1,979,738

Cash at bank and in hand
 6 
616,858
15,539

  
2,642,289
1,995,277

Creditors: amounts falling due within one year
 7 
(4,300,056)
(3,905,359)

Net current liabilities
  
 
 
(1,657,767)
 
 
(1,910,082)

Total assets less current liabilities
  
2,667,233
2,414,918

Creditors: amounts falling due after more than one year
 8 
(1,908,504)
(1,952,510)

Provisions for liabilities
  

Deferred tax
 9 
(465,715)
(451,461)

  
 
 
(465,715)
 
 
(451,461)

Net assets
  
293,014
10,947


Capital and reserves
  

Called up share capital 
 10 
100
100

Revaluation reserve
 11 
29,846
-

Profit and loss account
 11 
263,068
10,847

Shareholders' funds
  
293,014
10,947


Page 4

 
STOCKBOURNE (WEM) LTD
REGISTERED NUMBER: 14315155

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

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: 




Mr M J Rickards
Director

Date: 24 September 2024

The notes on pages 7 to 11 form part of these financial statements.

Page 5

 
STOCKBOURNE (WEM) LTD
 

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


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

£
£
£
£



Profit for the period
-
-
10,847
10,847

Shares issued during the period
100
-
-
100



At 1 November 2022
100
-
10,847
10,947



Profit for the year
-
-
282,067
282,067

Net increase in investment property
-
-
(29,846)
(29,846)

Net increase in investment property
-
29,846
-
29,846


At 31 October 2023
100
29,846
263,068
293,014


The notes on pages 7 to 11 form part of these financial statements.

Page 6

 
STOCKBOURNE (WEM) LTD
 

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

1.


General information

Stockbourne (WEM) Ltd is a private company, limited by shares and incorporated in England and Wales, registered number 14315155. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Going concern

The financial statements have been prepared on a going concern basis as the Directors believe that the Company to meet 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 approprite therefore to prepare the financial statements on a going concern basis. 

 
2.4

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.

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.
Rental income is recognised over the term of the lease.
Sales of investment properties are recognised on date of completion.

 
2.5

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.

 
2.6

Borrowing costs

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

Page 7

 
STOCKBOURNE (WEM) LTD
 

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

2.Accounting policies (continued)

 
2.7

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 8

 
STOCKBOURNE (WEM) LTD
 

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

2.Accounting policies (continued)

 
2.12

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Investment property

£



Valuation


At 1 November 2022
4,325,000


Disposals
(44,100)


Surplus on revaluation
44,100



At 31 October 2023
4,325,000

The 2023 valuations were made by D J Williams MRICS, a director of the Company, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Trade debtors
4,800
2,848

Amounts owed by group undertakings
1,964,434
1,976,890

Prepayments and accrued income
56,197
-

2,025,431
1,979,738


Page 9

 
STOCKBOURNE (WEM) LTD
 

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

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
616,858
15,539



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
25,801
-

Amounts owed to group undertakings
4,114,493
3,820,598

Corporation tax
-
3,671

Other taxation and social security
69,697
475

Other creditors
71,447
62,393

Accruals and deferred income
18,618
18,222

4,300,056
3,905,359



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,908,504
1,952,510


The bank loan is secured with a fixed and floating charge over the assets of the Company.


9.


Deferred taxation




2023
2022


£

£






At beginning of year
451,461
-


Charged to profit or loss
14,254
-


Transfer of liability from fellow subsidiary
-
451,461



At end of year
465,715
451,461

Page 10

 
STOCKBOURNE (WEM) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Gains on fair value of investment property
465,715
451,461


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Reserves

Investment property revaluation reserve

The investment property reserve represents the cummulative fair value movement offset by the estimated deferred tax charge on the gain.

Profit and loss account

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


12.


Related party transactions

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


13.


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 11