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Registered number: 04118435
















STANFORD MARSH FINANCE LIMITED



FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024


































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STANFORD MARSH FINANCE LIMITED
REGISTERED NUMBER:04118435

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
584,981
670,150

Investments
 5 
1,273,280
1,176,755

  
1,858,261
1,846,905

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
160,622
83,225

Short term investments
  
1,016,026
-

Cash at bank and in hand
  
296,342
1,176,936

  
1,472,990
1,260,161

Creditors: amounts falling due within one year
 8 
(219,007)
(227,769)

NET CURRENT ASSETS
  
1,253,983
1,032,392

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,112,244
2,879,297

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(67,596)
(78,060)

NET ASSETS
  
3,044,648
2,801,237


CAPITAL AND RESERVES
  

Called up share capital 
 10 
1
1

Profit and loss account
 11 
3,044,647
2,801,236

  
3,044,648
2,801,237


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 by: 





J S Marsh
Director

Date: 27 October 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1


STANFORD MARSH FINANCE LIMITED

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

1.


GENERAL INFORMATION

Stanford Marsh Finance Limited is a private company, limited by shares, incorporated in the UK and registered in England and Wales. The registered office and trading address is Haycroft Works, Buckholt Drive, Warndon Industrial Estate, Worcester, WR4 9ND.
The principal activity of the company continued to be the supply of rental contracts for printing equipment.

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.

These financial statements cover the individual entity only. They are presented in Sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Stanford Marsh Limited as at 31 January 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

 
2.3

GOING CONCERN

The directors have reviewed budgets and forecasts for period of at least 12 months from approval of these financial statements. It is considered that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Page 2


STANFORD MARSH FINANCE LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.4

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:

Revenue in respect of operating leases is recognised on an accruals basis in accordance with the substance of the relevant agreement. Typically, such revenue is recognised on a straight line basis over the life of the agreement.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3-5 years 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.

 
2.6

OPERATING LEASES: THE COMPANY AS LESSOR

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.7

VALUATION OF INVESTMENTS

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

  
2.9

SHORT TERM INVESTMENTS

Short term investments are represented by cash in hand and deposits with financial institutions repayable on notice of more than 24 hours. These investments mature in 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.

Page 3


STANFORD MARSH FINANCE LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.10

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.
 
2.11

FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

 
2.12

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.

 
2.13

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

INTEREST INCOME

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

 
2.15

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 reporting 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 reporting 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 reporting date.

Page 4


STANFORD MARSH FINANCE LIMITED

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

3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 0 (2023: 0).


4.


TANGIBLE FIXED ASSETS





Plant and machinery

£



COST


At 1 February 2023
2,018,545


Additions
204,738


Disposals
(318,968)



At 31 January 2024

1,904,315



DEPRECIATION


At 1 February 2023
1,348,395


Charge for the year
284,123


Disposals
(313,184)



At 31 January 2024

1,319,334



NET BOOK VALUE



At 31 January 2024
584,981



At 31 January 2023
670,150


5.


FIXED ASSET INVESTMENTS





Listed investments

£



VALUATION


At 1 February 2023
1,176,755


Revaluations
96,525



At 31 January 2024
1,273,280




Page 5


STANFORD MARSH FINANCE LIMITED

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

6.


DEBTORS

2024
2023
£
£


Trade debtors
4,866
11,201

Amounts owed by group undertakings
155,756
70,645

Other debtors
-
10

Prepayments and accrued income
-
1,369

160,622
83,225



7.


SHORT TERM INVESTMENTS

2024
2023
£
£

Cash on deposit
1,016,026
-

1,016,026
-



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
-
6

Amounts owed to group undertakings
145,728
159,100

Corporation Tax
33,638
-

Other taxation and social security
23,067
28,376

Other creditors
-
21,492

Accruals and deferred income
16,574
18,795

219,007
227,769


Page 6


STANFORD MARSH FINANCE LIMITED

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

9.


DEFERRED TAXATION




2024


£






At beginning of year
(78,060)


Charged to the profit or loss
10,464



AT END OF YEAR
(67,596)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(67,596)
(78,060)


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2023: 1) Ordinary share of £1.00
1
1



11.


RESERVES

Profit and loss account

This reserve includes all current and prior period retained profits and losses.


12.


RELATED PARTY TRANSACTIONS

The company has taken the exemption under FRS 102 33.1A from disclosing transactions with wholly owned group companies.


13.


POST BALANCE SHEET EVENTS

From 1 February 2024, the controlling party changed from Stanford Marsh Limited to Stanford Marsh Group Holdings Limited. The ultimate controlling party remains the same.

Page 7


STANFORD MARSH FINANCE LIMITED

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

14.


CONTROLLING PARTY

At 31 January 2024, the company was controlled by its parent undertaking Stanford Marsh Limited. The ultimate controlling party was considered to be Mr C S Marsh by virtue of his shareholding in Stanford Marsh Limited.
From 1 February 2024, the company is controlled by Stanford Marsh Group Holdings Limited, as per the details in the Post Balance Sheet Events note. The ultimate controlling party is still Mr C S Marsh by virtue of his shareholding in Stanford Marsh Group Holdings Limited.
Copies of the consolidated financial statements prepared by Stanford Marsh Limited for the year ending 31 January 2024 can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.


15.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 28 October 2024 by Richard Newton FCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
Page 8