The Stantonbury Building & Development Company Limited 11021522 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Property development work Digita Accounts Production Advanced 6.30.9574.0 true true 11021522 2023-05-01 2024-04-30 11021522 2024-04-30 11021522 bus:Director1 1 2024-04-30 11021522 2 2024-04-30 11021522 core:CurrentFinancialInstruments 2024-04-30 11021522 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 11021522 core:Non-currentFinancialInstruments 2024-04-30 11021522 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 11021522 core:MotorVehicles 2024-04-30 11021522 core:OfficeEquipment 2024-04-30 11021522 core:PlantMachinery 2024-04-30 11021522 bus:SmallEntities 2023-05-01 2024-04-30 11021522 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11021522 bus:FilletedAccounts 2023-05-01 2024-04-30 11021522 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11021522 bus:RegisteredOffice 2023-05-01 2024-04-30 11021522 bus:Director1 2023-05-01 2024-04-30 11021522 bus:Director1 1 2023-05-01 2024-04-30 11021522 bus:Director4 2023-05-01 2024-04-30 11021522 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11021522 core:MotorVehicles 2023-05-01 2024-04-30 11021522 core:OfficeEquipment 2023-05-01 2024-04-30 11021522 core:PlantMachinery 2023-05-01 2024-04-30 11021522 countries:EnglandWales 2023-05-01 2024-04-30 11021522 2023-04-30 11021522 bus:Director1 1 2023-04-30 11021522 core:MotorVehicles 2023-04-30 11021522 core:OfficeEquipment 2023-04-30 11021522 core:PlantMachinery 2023-04-30 11021522 2021-11-01 2023-04-30 11021522 2023-04-30 11021522 bus:Director1 1 2023-04-30 11021522 bus:Director4 1 2023-04-30 11021522 2 2023-04-30 11021522 core:CurrentFinancialInstruments 2023-04-30 11021522 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11021522 core:Non-currentFinancialInstruments 2023-04-30 11021522 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11021522 core:MotorVehicles 2023-04-30 11021522 core:OfficeEquipment 2023-04-30 11021522 core:PlantMachinery 2023-04-30 11021522 bus:Director1 1 2021-11-01 2023-04-30 11021522 bus:Director4 1 2021-11-01 2023-04-30 11021522 bus:Director1 1 2021-10-31 11021522 bus:Director4 1 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 11021522

The Stantonbury Building & Development Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

The Stantonbury Building & Development Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Stantonbury Building & Development Company Limited

(Registration number: 11021522)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,638

8,107

Current assets

 

Stocks

5

319,412

225,049

Debtors

6

180,221

430,524

Cash at bank and in hand

 

103,179

208,260

 

602,812

863,833

Creditors: Amounts falling due within one year

7

(558,891)

(736,862)

Net current assets

 

43,921

126,971

Total assets less current liabilities

 

49,559

135,078

Creditors: Amounts falling due after more than one year

7

(250,000)

(250,000)

Provisions for liabilities

6,259

(2,027)

Net liabilities

 

(194,182)

(116,949)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(194,282)

(117,049)

Shareholders' deficit

 

(194,182)

(116,949)

 

The Stantonbury Building & Development Company Limited

(Registration number: 11021522)
Balance Sheet as at 30 April 2024

For the financial year ending 30 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 Profit and Loss Account.

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

A M Hambly
Director

   
     
 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Priors
Stanton Prior
Marksbury
Bath
BA2 9HX

These financial statements were authorised for issue by the Board on 17 January 2025.

2

Accounting policies

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 company, and rounded to the nearest £.

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.

Going concern

The financial statements have been prepared on a going concern basis. Despite the negative reserves it is anticipated that the company will make a profit on its long term projects.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of property and income crystallisation on stages met on property development contracts in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Sales are recognised on long term contracts on a percentage of completion basis.

Tax

The tax expense for the period comprises current and deferred 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.

 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Work in progress

The work in progress comprises services in relation to upcoming projects which will be allocated against income received using the long term contract accounting principles.

Debtors

Trade debtors are amounts due from customers for land and property developed and sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A dvidend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2023 - 3).

 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 May 2023

3,940

470

17,538

21,948

Additions

956

-

-

956

Disposals

(3,940)

-

-

(3,940)

At 30 April 2024

956

470

17,538

18,964

Depreciation

At 1 May 2023

2,442

26

11,373

13,841

Charge for the year

239

147

1,541

1,927

Eliminated on disposal

(2,442)

-

-

(2,442)

At 30 April 2024

239

173

12,914

13,326

Carrying amount

At 30 April 2024

717

297

4,624

5,638

At 30 April 2023

1,498

444

6,165

8,107

5

Work in progress

2024
£

2023
£

Work in progress

319,412

225,049

6

Debtors

2024
£

2023
£

Trade debtors

64,000

112,000

Other debtors

103,163

317,920

Prepayments

728

604

Corporation tax

12,330

-

180,221

430,524

 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Trade creditors

 

11,171

3,424

Amounts due to related parties

9

46,860

136,221

Social security and other taxes

 

-

13,298

Accruals

 

500,860

583,919

 

558,891

736,862

Due after one year

 

Loans and borrowings

8

250,000

250,000

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

250,000

250,000

9

Related party transactions

The amount outstanding on the loan made by company to the director at 30 April 2024 was £nil (2023: £25,025). Interest is charged at 2% on overdrawn balances.

 

The Stantonbury Building & Development Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

J M Hambly

Director's loan account

25,025

14,556

(39,581)

-

2023

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

J M Hambly

Director's loan account

-

97,756

(72,731)

25,025

A M Hambly

Director's loan account

-

84,357

(84,357)

-