Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08717278 2023-04-01 2024-03-31 08717278 2022-04-01 2023-03-31 08717278 2024-03-31 08717278 2023-03-31 08717278 c:Director1 2023-04-01 2024-03-31 08717278 c:Director3 2023-04-01 2024-03-31 08717278 d:FurnitureFittings 2023-04-01 2024-03-31 08717278 d:FurnitureFittings 2024-03-31 08717278 d:FurnitureFittings 2023-03-31 08717278 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08717278 d:OfficeEquipment 2023-04-01 2024-03-31 08717278 d:OfficeEquipment 2024-03-31 08717278 d:OfficeEquipment 2023-03-31 08717278 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08717278 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08717278 d:FreeholdInvestmentProperty 2024-03-31 08717278 d:FreeholdInvestmentProperty 2023-03-31 08717278 d:CurrentFinancialInstruments 2024-03-31 08717278 d:CurrentFinancialInstruments 2023-03-31 08717278 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08717278 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08717278 d:ShareCapital 2024-03-31 08717278 d:ShareCapital 2023-03-31 08717278 d:OtherMiscellaneousReserve 2024-03-31 08717278 d:OtherMiscellaneousReserve 2023-03-31 08717278 d:RetainedEarningsAccumulatedLosses 2024-03-31 08717278 d:RetainedEarningsAccumulatedLosses 2023-03-31 08717278 c:FRS102 2023-04-01 2024-03-31 08717278 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08717278 c:FullAccounts 2023-04-01 2024-03-31 08717278 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08717278 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08717278













Staunton's Properties Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
Staunton's Properties Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
78

Investment property
 5 
955,000
955,000

  
955,000
955,078

Current assets
  

Debtors
 6 
15,539
1,710

Cash at bank and in hand
  
14,059
27,144

  
29,598
28,854

Creditors: amounts falling due within one year
 7 
(857,117)
(858,766)

Net current liabilities
  
 
 
(827,519)
 
 
(829,912)

Total assets less current liabilities
  
127,481
125,166

  

Net assets
  
127,481
125,166


Capital and reserves
  

Called up share capital 
  
200
200

Investment property reserves
  
255,637
255,637

Profit and loss account
  
(128,356)
(130,671)

Shareholders' funds
  
127,481
125,166


1

 
Staunton's Properties Limited

    
Balance sheet (continued)
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 statement of comprehensive income 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 on 22 October 2024.




S C Evans
C G S Robinson
Director
Director

Company registered number: 08717278
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Staunton's Properties Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of the registered office is 11 Farmer's End, Charvil, Reading, Berkshire, RG10 9RZ.

2.Accounting policies

 
2.1

Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

 
2.2

Going concern

At the balance sheet date, the directors, having taken due and careful consideration, are of the opinion that the company, with the support of its shareholders, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial accounts.

 
2.3

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.


 
2.4

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.

3

 
Staunton's Properties Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.6

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.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.7

Financial instruments

Basic financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity
instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

4

 
Staunton's Properties Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 April 2023
743
118
861



At 31 March 2024

743
118
861



Depreciation


At 1 April 2023
665
118
783


Charge for the year
78
-
78



At 31 March 2024

743
118
861



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
78
-
78

5

 
Staunton's Properties Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
955,000



At 31 March 2024
955,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 April 2023
255,637
255,637

At 31 March 2024
255,637
255,637



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
699,363
699,363

699,363
699,363

6

 
Staunton's Properties Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

6.


Debtors

2024
2023
£
£


Prepayments and accrued income
2,053
1,710

Deferred taxation
13,486
-

15,539
1,710



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Corporation tax
1,483
44,183

Other creditors
778,373
753,373

Accruals and deferred income
77,261
61,210

857,117
858,766


Included in other creditors are loans with directors that are secured, repayable on demand and incurs interest at 2% above base rate.


8.


Related party transactions

During the year the company operated a loan account with directors. The amount due from the company at the year end was £778,373 (2023 - £753,373). This loan is secured, repayable on demand and incurs interest at 2% above base rate above £500,000. The first £500,000 is interest free.

 
7