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Registration number: 03005463

Stourport Property Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Stourport Property Services Limited

Contents

Company Information

1

Directors' Report

2

Abridged Profit and Loss Account

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 8

 

Stourport Property Services Limited

Company Information

Directors

Mr D Smith

Mr N Cook

Mrs J H Cook

Mrs L Smith

Company secretary

Mr N Cook

Registered office

Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

Accountants

Perrigo Consultants Limited
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

Stourport Property Services Limited

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the abridged financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr D Smith

Mr N Cook - Company secretary and director

Mrs J H Cook

Mrs L Smith

Principal activity

The principal activity of the company is other letting and operating of own or leased real estate

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr D Smith
Director

 

Stourport Property Services Limited

Abridged Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Gross profit

 

53,166

45,295

Administrative expenses

 

(24,197)

(20,517)

Interest payable and similar expenses

 

(1,368)

(250)

Profit before tax

4

27,601

24,528

Tax on profit

 

(5,243)

(4,661)

Profit for the financial year

 

22,358

19,867

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Stourport Property Services Limited

(Registration number: 03005463)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

329,092

332,608

Current assets

 

Stocks

6

130

130

Debtors

7

11,102

11,102

Cash at bank and in hand

 

1,049

2,249

 

12,281

13,481

Creditors: Amounts falling due within one year

(26,744)

(31,750)

Net current liabilities

 

(14,463)

(18,269)

Total assets less current liabilities

 

314,629

314,339

Creditors: Amounts falling due after more than one year

(46,353)

(67,753)

Provisions for liabilities

(12,165)

(12,834)

Accruals and deferred income

 

(13,145)

(13,145)

Net assets

 

242,966

220,607

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

242,964

220,605

Shareholders' funds

 

242,966

220,607

 

Stourport Property Services Limited

(Registration number: 03005463)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr D Smith
Director

 

Stourport Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Stourport Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and building

1% Straight line

Plant and machinery etc

15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,516

3,519

 

Stourport Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

350,000

959

350,959

At 31 March 2024

350,000

959

350,959

Depreciation

At 1 April 2023

17,500

851

18,351

Charge for the year

3,500

16

3,516

At 31 March 2024

21,000

867

21,867

Carrying amount

At 31 March 2024

329,000

92

329,092

At 31 March 2023

332,500

108

332,608

Included within the net book value of land and buildings above is £329,000 (2023 - £332,500) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

130

130

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2