Company registration number 03876152 (England and Wales)
STONEHALL PROPERTY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
STONEHALL PROPERTY INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
Mr N Chambers
Mrs S M Chambers
Secretary
Mrs S M Chambers
Company number
03876152
Registered office
Bootridge Farm
Stonehall Common
Kempsey
Worcestershire
WR5 3QQ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
4 The Cross
Worcester
Worcestershire
WR1 3PY
STONEHALL PROPERTY INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
STONEHALL PROPERTY INVESTMENTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STONEHALL PROPERTY INVESTMENTS LIMITED FOR THE YEAR ENDED 27 NOVEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stonehall Property Investments Limited for the year ended 27 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Stonehall Property Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stonehall Property Investments Limited and state those matters that we have agreed to state to the board of directors of Stonehall Property Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stonehall Property Investments Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Stonehall Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Stonehall Property Investments Limited. You consider that Stonehall Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stonehall Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
28 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
STONEHALL PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT
27 NOVEMBER 2023
27 November 2023
- 2 -
27 November 2023
28 November 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,927
350
Investment property
4
5,805,378
5,805,378
5,808,305
5,805,728
Current assets
Debtors
5
-
0
6,001
Cash at bank and in hand
3,990
53,106
3,990
59,107
Creditors: amounts falling due within one year
6
(223,467)
(152,067)
Net current liabilities
(219,477)
(92,960)
Total assets less current liabilities
5,588,828
5,712,768
Creditors: amounts falling due after more than one year
7
(3,651,657)
(3,683,483)
Provisions for liabilities
8
-
0
(67)
Net assets
1,937,171
2,029,218
Capital and reserves
Called up share capital
10
2
2
Share premium account
1,903,321
1,903,321
Profit and loss reserves
33,848
125,895
Total equity
1,937,171
2,029,218

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 27 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

STONEHALL PROPERTY INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
27 NOVEMBER 2023
27 November 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 28 November 2024 and are signed on its behalf by:
Mr N Chambers
Director
Company registration number 03876152 (England and Wales)
STONEHALL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 NOVEMBER 2023
- 4 -
1
Accounting policies
Company information

Stonehall Property Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bootridge Farm, Stonehall Common, Kempsey, Worcestershire, WR5 3QQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

STONEHALL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
STONEHALL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 NOVEMBER 2023
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 29 November 2022
-
0
3,130
3,130
Additions
2,130
1,834
3,964
At 27 November 2023
2,130
4,964
7,094
Depreciation and impairment
At 29 November 2022
-
0
2,780
2,780
Depreciation charged in the year
426
961
1,387
At 27 November 2023
426
3,741
4,167
Carrying amount
At 27 November 2023
1,704
1,223
2,927
At 28 November 2022
-
0
350
350
4
Investment property
2023
£
Fair value
At 29 November 2022 and 27 November 2023
5,805,378

The directors have assessed the market value of the properties and consider that there has been no significant change in the marker value at the year end.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
6,001
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
91,226
79,685
Trade creditors
1,992
1,842
Taxation and social security
124
6,356
Other creditors
130,125
64,184
223,467
152,067
STONEHALL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 NOVEMBER 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,651,657
3,683,483
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
-
0
67
9
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
3,742,883
3,763,168
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
2
2
2
2
11
Ultimate controlling party

The ultimate controlling party is Mr N Chambers and Mrs S M Chambers.

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