Registration number:
Charles Courtenay-Stamp Limited
for the Year Ended 5 April 2024
Charles Courtenay-Stamp Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Charles Courtenay-Stamp Limited
(Registration number: 05260312)
Statement of Financial Position as at 5 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
- |
|
|
Cash at bank and in hand |
|
- |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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|
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
|
Revaluation reserve |
181,728 |
181,728 |
|
Profit and loss account |
481,825 |
491,003 |
|
Shareholders' funds |
664,553 |
673,731 |
For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
Charles Courtenay-Stamp Limited
(Registration number: 05260312)
Statement of Financial Position as at 5 April 2024 (continued)
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Charles Courtenay-Stamp Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
Principal activity
The principal activity of the company is property investment company.
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.
The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Charles Courtenay-Stamp Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)
2 |
Accounting policies (continued) |
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.
Depreciation
Asset class |
Depreciation method and rate |
Investment property |
Not depreciated. |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probably that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Charles Courtenay-Stamp Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2024 |
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At 6 April |
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At 5 April |
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In the opinion of the directors the current market value is £710,000.
If the investment property was recognised at cost this would be shown at £487,928.
Debtors |
2024 |
2023 |
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Other debtors |
- |
|
- |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
|
- |
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Charles Courtenay-Stamp Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)
7 |
Reserves (continued) |
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The profit and loss account reserve records retained earnings and accumulated losses.
The fair value reserve records non-distributable reserves relating to the revaluation of investment properties to fair value less the associated deferred tax liability.
Related party transactions |
Transactions with directors |
2024 |
At 6 April 2023 |
Advances to director |
Repayments by director |
At 5 April 2024 |
Directors loan |
|
|
( |
( |
|
- |
- |
- |
- |
13,410 |
48,091 |
(61,551) |
(50) |
|
2023 |
At 6 April 2022 |
Advances to director |
Repayments by director |
At 5 April 2023 |
Directors loan |
( |
|
( |
|
|
- |
- |
- |
- |
(19,974) |
42,722 |
(9,338) |
13,410 |
|