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Registered number: 00967713
Stanley Handling Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—11
Page 1
Company Information
Directors Graham Sharp
Christopher Walshe
Company Number 00967713
Registered Office SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Stanley Handling Limited For The Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stanley Handling Limited For The Year Ended 30 April 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Stanley Handling Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Stanley Handling Limited and state those matters that we have agreed to state to the directors of Stanley Handling 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 Stanley Handling Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Stanley Handling Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Stanley Handling Limited . You consider that Stanley Handling Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Stanley Handling 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 financial statements.
Signed
Sterling Accounting Solutions Limited
23/01/2025
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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Statement of Financial Position
Registered number: 00967713
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 252,797 294,089
Tangible Assets 5 94,814 45,316
347,611 339,405
CURRENT ASSETS
Stocks 6 507,956 572,685
Debtors 7 939,077 1,143,542
Cash at bank and in hand 94,667 94,518
1,541,700 1,810,745
Creditors: Amounts Falling Due Within One Year 8 (992,165 ) (1,203,678 )
NET CURRENT ASSETS (LIABILITIES) 549,535 607,067
TOTAL ASSETS LESS CURRENT LIABILITIES 897,146 946,472
Creditors: Amounts Falling Due After More Than One Year 9 (160,455 ) (328,918 )
NET ASSETS 736,691 617,554
CAPITAL AND RESERVES
Called up share capital 12 100 100
Income Statement 736,591 617,454
SHAREHOLDERS' FUNDS 736,691 617,554
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Graham Sharp
Director
23/01/2025
The notes on pages 5 to 11 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Stanley Handling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00967713 . The registered office is SAS House, Chipperfield Road, Kings Langley, Hertfordshire, WD4 9JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development. It is amortised to income statement over its estimated economic life of 3 years.
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2.5. Research and Development
Research expenditure is written off in the year in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:
• It is technically feasible to complete the intangible asset so that it will be available for use or sale;
• There is the intention to complete the intangible asset and use or sell it;
• There is the ability to use or sell the intangible asset;
• The use or sale of the intangible asset will generate probable future economic benefits;
• There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
• The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred.
It is amortised to income statement over its estimated economic life of 10 years.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings at varying rates on cost
Computer Equipment 33% straight line
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.9. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.10. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.11. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.11. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.12. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.13. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
2.14. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 22)
21 22
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4. Intangible Assets
Goodwill Other Development Costs Total
£ £ £ £
Cost
As at 1 May 2023 27,000 21,692 454,712 503,404
As at 30 April 2024 27,000 21,692 454,712 503,404
Amortisation
As at 1 May 2023 16,222 12,127 180,966 209,315
Provided during the period 1,362 5,350 34,580 41,292
As at 30 April 2024 17,584 17,477 215,546 250,607
Net Book Value
As at 30 April 2024 9,416 4,215 239,166 252,797
As at 1 May 2023 10,778 9,565 273,746 294,089
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 78,501 75,537 61,151 13,765 228,954
Additions 85,000 - 1,696 - 86,696
Disposals - (48,397 ) - - (48,397 )
As at 30 April 2024 163,501 27,140 62,847 13,765 267,253
Depreciation
As at 1 May 2023 78,501 39,847 56,819 8,471 183,638
Provided during the period - 15,027 1,628 3,402 20,057
Disposals - (31,256 ) - - (31,256 )
As at 30 April 2024 78,501 23,618 58,447 11,873 172,439
Net Book Value
As at 30 April 2024 85,000 3,522 4,400 1,892 94,814
As at 1 May 2023 - 35,690 4,332 5,294 45,316
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6. Stocks
2024 2023
£ £
Stock 507,956 572,685
During the year, a stock write off of £250,000 (2023: £200,000) has been recognised in the profit and loss account. The carrying value of stock at the year-end date reflects this adjustment.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 487,197 694,597
Prepayments and accrued income 70,810 51,594
Other debtors 325,778 249,989
Deferred tax current asset 41,062 95,362
Amounts owed by group undertakings 14,230 52,000
939,077 1,143,542
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 14,857
Trade creditors 306,509 322,828
Bank loans and overdrafts 160,697 198,066
Other taxes and social security 84,702 154,721
Other creditors 419,028 503,185
Directors' loan accounts 6,760 10,021
Amounts owed to group undertakings 14,469 -
992,165 1,203,678
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 7,716
Bank loans 160,455 321,202
160,455 328,918
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 14,857
Later than one year and not later than five years - 7,716
- 22,573
- 22,573
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 (95,362 ) (95,362)
Deferred taxation 54,300 54,300
Balance at 30 April 2024 (41,062 ) (41,062)
12. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
13. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £3,979 (2023: £3,833) were due to the fund. They are included in Other Creditors.
14. Ultimate Controlling Party
The company's ultimate controlling party is Stanley Group Holdings Limited by virtue of its ownership of 100% of the issued share capital in the company.
15. Charge on assets
At the year end £277,142 (2023: £236,198) of secured debts relating to an invoice discounting facility are included within other creditors.
The invoice discounting facility is secured by a fixed and floating charge over the assets of the company.
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