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Registered number: 07210824









STANLEY AND INGRAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
STANLEY AND INGRAM LIMITED
REGISTERED NUMBER: 07210824

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,041
1,389

  
1,041
1,389

Current assets
  

Debtors: amounts falling due within one year
 6 
176,995
172,038

Cash at bank and in hand
 7 
1,166
32,419

  
178,161
204,457

Creditors: amounts falling due within one year
 8 
(231,175)
(264,310)

Net current liabilities
  
 
 
(53,014)
 
 
(59,853)

Total assets less current liabilities
  
(51,973)
(58,464)

  

Net liabilities
  
(51,973)
(58,464)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(52,073)
(58,564)

  
(51,973)
(58,464)


Page 1

 
STANLEY AND INGRAM LIMITED
REGISTERED NUMBER: 07210824
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

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


G Bhandal
Director

Date: 19 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
STANLEY AND INGRAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Stanley and Ingram Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

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

 
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.

Page 3

 
STANLEY AND INGRAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
25%
straight line

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. In the accounts amounts recoverable on long term contracts is carried at unbilled time based on charge out rates less a provision where the members believe such time will not be recoverable.

Page 4

 
STANLEY AND INGRAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Employees

2024
2023
£
£

Social security costs
-
1,122

-
1,122


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
6,678
317
6,995



At 31 March 2024

6,678
317
6,995



Depreciation


At 1 April 2023
5,343
263
5,606


Charge for the year on owned assets
334
14
348



At 31 March 2024

5,677
277
5,954



Net book value



At 31 March 2024
1,001
40
1,041



At 31 March 2023
1,335
54
1,389


6.


Debtors

2024
2023
£
£


Other debtors
176,995
172,038

176,995
172,038


Page 5

 
STANLEY AND INGRAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,166
32,419

1,166
32,419



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
228,333
246,360

Trade creditors
36
7,835

Other taxation and social security
511
7,935

Accruals and deferred income
2,295
2,180

231,175
264,310



9.


Related party transactions

In other creditors there is a loan from a company under common control of £228,333 (2023: £246,360). In other debtors there are loans to companies under common control of £176,995 (2023: £172,038). No interest is charged on these loans and they are repayable on demand.
Included within turnover there is a total charge to a party related by common control of £20,000 (2023: £50,000). 

 
Page 6