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REGISTERED NUMBER: 06051312 (England and Wales)















STEADFAITH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


STEADFAITH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A E Martin Smith
Mrs J A Martin Smith





SECRETARY: Mrs J A Martin Smith





REGISTERED OFFICE: 20 Kings Lynn Road
Hunstanton
Norfolk
PE36 5HP





BUSINESS ADDRESS: Ringstead Bury
Ringstead
Hunstanton
Norfolk
PE36 5JZ





REGISTERED NUMBER: 06051312 (England and Wales)






STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 107
Investments 5 76,877 30,375
76,877 30,482

CURRENT ASSETS
Debtors 6 9,834 7,998
Cash at bank 19,262 79,056
29,096 87,054
CREDITORS
Amounts falling due within one year 7 1,380 2,100
NET CURRENT ASSETS 27,716 84,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,593

115,436

PROVISIONS FOR LIABILITIES 309 549
NET ASSETS 104,284 114,887

STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

BALANCE SHEET - continued
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10,007 10,761
Retained earnings 93,277 103,126
SHAREHOLDERS' FUNDS 104,284 114,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:




A E Martin Smith - Director



Mrs J A Martin Smith - Director


STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Steadfaith Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 2,516
DEPRECIATION
At 1 February 2023 2,409
Charge for year 107
At 31 January 2024 2,516
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 107

STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 February 2023 30,375
Additions 55,399
Disposals (7,892 )
Revaluations (1,005 )
At 31 January 2024 76,877
NET BOOK VALUE
At 31 January 2024 76,877
At 31 January 2023 30,375

Cost or valuation at 31 January 2024 is represented by:

Listed
investments
£   
Valuation in 2016 8,481
Valuation in 2017 1,908
Valuation in 2018 (3,128 )
Valuation in 2019 1,134
Valuation in 2020 4,556
Valuation in 2021 (2,144 )
Valuation in 2022 5,010
Valuation in 2023 (720 )
Valuation in 2024 (1,005 )
Cost 62,785
76,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors - 3,000
Directors' current accounts 9,834 4,998
9,834 7,998

STEADFAITH LIMITED (REGISTERED NUMBER: 06051312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Accruals and deferred income 1,380 2,100