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COMPANY REGISTRATION NUMBER: 06397934
Stanley & Lesley Ltd
Filleted Unaudited Financial Statements
31 March 2024
Stanley & Lesley Ltd
Statement of Financial Position
31 March 2024
31 Mar 24
31 Dec 22
Note
£
£
£
Fixed assets
Intangible assets
5
1
Tangible assets
6
159
14,125
----
--------
159
14,126
Current assets
Stocks
5,645
Debtors
7
18,830
9,130
Cash at bank and in hand
2,042
40,768
--------
--------
20,872
55,543
Creditors: amounts falling due within one year
8
27,444
54,205
--------
--------
Net current (liabilities)/assets
( 6,572)
1,338
-------
--------
Total assets less current liabilities
( 6,413)
15,464
Creditors: amounts falling due after more than one year
9
6,107
11,034
Provisions
Taxation including deferred tax
30
2,684
--------
--------
Net (liabilities)/assets
( 12,550)
1,746
--------
--------
Stanley & Lesley Ltd
Statement of Financial Position (continued)
31 March 2024
31 Mar 24
31 Dec 22
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 12,552)
1,744
--------
-------
Shareholders (deficit)/funds
( 12,550)
1,746
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 October 2024 , and are signed on behalf of the board by:
Mr P Hale
Director
Company registration number: 06397934
Stanley & Lesley Ltd
Notes to the Financial Statements
Period from 1 January 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, Bedfordshire, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to Nil (2022: 21 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023
1
Additions
Disposals
( 1)
----
At 31 March 2024
----
Amortisation
At 1 January 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
----
At 31 December 2022
1
----
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023
7,975
46,182
54,157
Disposals
( 7,975)
( 45,803)
( 53,778)
-------
--------
--------
At 31 March 2024
379
379
-------
--------
--------
Depreciation
At 1 January 2023
6,083
33,949
40,032
Charge for the period
591
3,823
4,414
Disposals
( 6,674)
( 37,552)
( 44,226)
-------
--------
--------
At 31 March 2024
220
220
-------
--------
--------
Carrying amount
At 31 March 2024
159
159
-------
--------
--------
At 31 December 2022
1,892
12,233
14,125
-------
--------
--------
7. Debtors
31 Mar 24
31 Dec 22
£
£
Other debtors
18,830
9,130
--------
-------
8. Creditors: amounts falling due within one year
31 Mar 24
31 Dec 22
£
£
Bank loans and overdrafts
3,953
3,832
Trade creditors
1,014
19,069
Corporation tax
3,371
Social security and other taxes
11,918
23,330
Other creditors
10,559
4,603
--------
--------
27,444
54,205
--------
--------
9. Creditors: amounts falling due after more than one year
31 Mar 24
31 Dec 22
£
£
Bank loans and overdrafts
6,107
11,034
-------
--------