Charles Courtenay-Stamp Limited 05260312 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is property investment company. Digita Accounts Production Advanced 6.30.9574.0 true true 05260312 2023-04-06 2024-04-05 05260312 2024-04-05 05260312 core:CurrentFinancialInstruments 2024-04-05 05260312 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 05260312 1 2024-04-05 05260312 2 2024-04-05 05260312 bus:SmallEntities 2023-04-06 2024-04-05 05260312 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 05260312 bus:FilletedAccounts 2023-04-06 2024-04-05 05260312 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 05260312 bus:RegisteredOffice 2023-04-06 2024-04-05 05260312 bus:Director1 2023-04-06 2024-04-05 05260312 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 05260312 core:LandBuildings 2023-04-06 2024-04-05 05260312 countries:AllCountries 2023-04-06 2024-04-05 05260312 1 2023-04-06 2024-04-05 05260312 2 2023-04-06 2024-04-05 05260312 2023-04-05 05260312 1 2023-04-05 05260312 2 2023-04-05 05260312 2022-04-06 2023-04-05 05260312 2023-04-05 05260312 core:CurrentFinancialInstruments 2023-04-05 05260312 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 05260312 1 2023-04-05 05260312 2 2023-04-05 05260312 1 2022-04-06 2023-04-05 05260312 2 2022-04-06 2023-04-05 05260312 1 2022-04-05 05260312 2 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 05260312

Charles Courtenay-Stamp Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

Charles Courtenay-Stamp Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Charles Courtenay-Stamp Limited

(Registration number: 05260312)
Statement of Financial Position as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

710,000

710,000

Current assets

 

Debtors

5

-

13,411

Cash at bank and in hand

 

5,244

-

 

5,244

13,411

Creditors: Amounts falling due within one year

6

(10,347)

(9,336)

Net current (liabilities)/assets

 

(5,103)

4,075

Total assets less current liabilities

 

704,897

714,075

Provisions for liabilities

(40,344)

(40,344)

Net assets

 

664,553

673,731

Capital and reserves

 

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:

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 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 Board on 3 December 2024 and signed on its behalf by:
 

 

Charles Courtenay-Stamp Limited

(Registration number: 05260312)
Statement of Financial Position as at 5 April 2024 (continued)


Mrs H Timperley
Director

 

Charles Courtenay-Stamp Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

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

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is property investment company.

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.

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 6 April

710,000

At 5 April

710,000

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.

5

Debtors

2024
£

2023
£

Other debtors

-

13,411

-

13,411

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,112

7,794

Accruals and deferred income

3,186

1,542

Other creditors

49

-

10,347

9,336

7

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)

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.

8

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)

-

-

-

-

 

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

-

-

-

-

(19,974)

42,722

(9,338)

13,410