Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 NI646651 Mr James Patterson Mr Gordon Patterson Mr Jeremy Hinds iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI646651 2023-02-28 NI646651 2024-02-28 NI646651 2023-03-01 2024-02-28 NI646651 frs-core:CurrentFinancialInstruments 2024-02-28 NI646651 frs-core:ShareCapital 2024-02-28 NI646651 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 NI646651 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 NI646651 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 NI646651 frs-bus:SmallEntities 2023-03-01 2024-02-28 NI646651 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 NI646651 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 NI646651 frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI646651 frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI646651 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI646651 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI646651 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI646651 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI646651 frs-bus:Director1 2023-03-01 2024-02-28 NI646651 frs-bus:Director2 2023-03-01 2024-02-28 NI646651 frs-bus:Director3 2023-03-01 2024-02-28 NI646651 frs-core:CurrentFinancialInstruments 1 2024-02-28 NI646651 frs-countries:NorthernIreland 2023-03-01 2024-02-28 NI646651 2022-02-28 NI646651 2023-02-28 NI646651 2022-03-01 2023-02-28 NI646651 frs-core:CurrentFinancialInstruments 2023-02-28 NI646651 frs-core:ShareCapital 2023-02-28 NI646651 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI646651 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: NI646651
Stonegate Land and Estates Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI646651
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 110 110
110 110
CURRENT ASSETS
Stocks 5 - 31,178,358
Debtors 6 6,436,529 802,382
Cash at bank and in hand 162 14,923
6,436,691 31,995,663
Creditors: Amounts Falling Due Within One Year 7 (8,154,686 ) (32,771,994 )
NET CURRENT ASSETS (LIABILITIES) (1,717,995 ) (776,331 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,717,885 ) (776,221 )
NET LIABILITIES (1,717,885 ) (776,221 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (1,717,985 ) (776,321 )
SHAREHOLDERS' FUNDS (1,717,885) (776,221)
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Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Patterson
Director
07/11/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Stonegate Land and Estates Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI646651 . The registered office is 25b Seafront Road, Holywood, Down, BT18 0BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Whilst the balance sheet is overdrawn at the year end by £1,717,855 (2023: £776,221), the directors are owed £3,600,110 (2023: £3,500,110 and will not demand full repayment until circumstances allow.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Investments
Unlisted
£
Cost
As at 1 March 2023 110
As at 28 February 2024 110
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 110
As at 1 March 2023 110
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5. Stocks
2024 2023
£ £
Stock - 31,178,358
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 756,000 755,000
VAT 42,517 47,382
Amounts owed by group undertakings 5,638,012 -
6,436,529 802,382
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 3,811,000 3,070,001
Loans 588,597 26,201,883
Accruals and deferred income 154,979 -
Directors' loan accounts 3,600,110 3,500,110
8,154,686 32,771,994
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
During the year the company transferred the freehold of its sites to its wholly owned subsidiary, Stonegate Homes (Cricklewood) Ltd, for £34,795,250, being the market value at that time.
At the year end the company is owed £5,638,012, in respect of the above transfer.
At the year end the company owed its directors £3,600,110 (2023: £3,500,110).
It also had balances due from/to other related companies;
  • £756,000 owed to the company (2023:£755,000)
  • £3,811,000 owed by the company (2023:£3,070,000)
10. Charges
Loans were secured by charges over the land and property of the company.
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