Company Registration No. 01263438 (England and Wales)
Stem Lane Properties Ltd
Unaudited accounts
for the year ended 31 May 2024
Stem Lane Properties Ltd
Unaudited accounts
Contents
Stem Lane Properties Ltd
Company Information
for the year ended 31 May 2024
Company Number
01263438 (England and Wales)
Registered Office
Blue Gates Black Lane
Bransgore
Christchurch
Dorset
BH23 8EA
Accountants
Karen A Sennitt FCA CTA
The Newport
Newport Lane, Braishfield
Romsey
Hampshire
SO51 0PL
Stem Lane Properties Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
115,080
28,796
Investment property
733,481
733,481
Inventories
243,406
422,717
Cash at bank and in hand
29,827
230,898
Creditors: amounts falling due within one year
(66,727)
(49,354)
Net current assets
238,079
1,103,442
Total assets less current liabilities
1,086,640
1,865,719
Creditors: amounts falling due after more than one year
(292,313)
(1,122,527)
Net assets
794,327
743,192
Called up share capital
500
500
Revaluation reserve
202,197
202,197
Profit and loss account
591,630
540,495
Shareholders' funds
794,327
743,192
For the year ending 31 May 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 January 2025 and were signed on its behalf by
Mr Martin Baily
Director
Company Registration No. 01263438
Stem Lane Properties Ltd
Notes to the Accounts
for the year ended 31 May 2024
Stem Lane Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 01263438. The registered office is Blue Gates Black Lane, Bransgore, Christchurch, Dorset, BH23 8EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stock and work in progress
Stock and work in progress have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Stem Lane Properties Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
62,009
23,000
1,233
5,041
91,283
Additions
-
121,072
-
1,636
122,708
At 31 May 2024
62,009
144,072
1,233
6,677
213,991
At 1 June 2023
46,684
11,330
1,013
3,460
62,487
Charge for the year
2,299
33,186
55
884
36,424
At 31 May 2024
48,983
44,516
1,068
4,344
98,911
At 31 May 2024
13,026
99,556
165
2,333
115,080
At 31 May 2023
15,325
11,670
220
1,581
28,796
Fair value at 1 June 2023
733,481
Amounts falling due within one year
Trade debtors
22,031
499,181
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
23,574
Obligations under finance leases and hire purchase contracts
17,739
-
Trade creditors
10,096
9,602
Taxes and social security
23,095
2,301
Stem Lane Properties Ltd
Notes to the Accounts
for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
82,191
-
Other creditors
46,794
45,798
Loans from directors
163,328
1,049,744
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).