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Registration number: 01392080

A.E. Stokes Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

A.E. Stokes Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

A.E. Stokes Properties Limited

Company Information

Director

Mrs Jennifer Anne Hosken

Company secretary

Mrs Jennifer Anne Hosken

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co.
Chartered Accountants
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

A.E. Stokes Properties Limited

(Registration number: 01392080)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,200,000

1,200,000

Other financial assets

5

356,732

338,101

 

1,556,732

1,538,101

Current assets

 

Debtors

6

1,611

1,793

Cash at bank and in hand

 

292,111

271,561

 

293,722

273,354

Creditors: Amounts falling due within one year

7

(18,145)

(19,120)

Net current assets

 

275,577

254,234

Total assets less current liabilities

 

1,832,309

1,792,335

Creditors: Amounts falling due after more than one year

7

(6,294)

(9,443)

Provisions for liabilities

(89,116)

(89,116)

Net assets

 

1,736,899

1,693,776

Capital and reserves

 

Called up share capital

8

750

750

Share premium reserve

391,150

391,150

Retained earnings

1,344,999

1,301,876

Shareholders' funds

 

1,736,899

1,693,776

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

A.E. Stokes Properties Limited

(Registration number: 01392080)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 29 November 2024
 

.........................................
Mrs Jennifer Anne Hosken
Company secretary and director

 

A.E. Stokes Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the director on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of rents received.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

All land and buildings are held at fair value. Valuation of the investment properties is assessed by the director.

 

A.E. Stokes Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants for rents due during the financial year.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 April

1,200,000

At 31 March

1,200,000




The fair value of the investment property was last given by an independent valuer during the 2018 accounting year. The Director has adjusted the value of the properties to what she considers to be a fair value at the reporting date. The fair values have been assessed by using the lower valuations available on property valuation websites to be prudent. The condition of each property has also been taken into account and the valuation adjusted accordingly.

 

A.E. Stokes Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

338,101

338,101

Fair value adjustments

18,631

18,631

At 31 March 2024

356,732

356,732

Impairment

Carrying amount

At 31 March 2024

356,732

356,732

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

200

Prepayments

1,611

1,593

 

1,611

1,793

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

15,170

16,240

Accruals and deferred income

1,975

1,880

Other creditors

1,000

1,000

18,145

19,120

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

6,294

9,443

 

A.E. Stokes Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

750

750

750

750