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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
Page
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Stem Lane Properties Ltd Company Information for the year ended 31 May 2024
Director
Mr Martin Baily
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
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Stem Lane Properties Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
115,080 
28,796 
Investment property
733,481 
733,481 
848,561 
762,277 
Current assets
Inventories
243,406 
422,717 
Debtors
31,573 
499,181 
Cash at bank and in hand
29,827 
230,898 
304,806 
1,152,796 
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 
Capital and reserves
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
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Stem Lane Properties Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
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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 
Depreciation
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 
Net book value
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 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
733,481 
At 31 May 2024
733,481 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
9,542 
- 
Trade debtors
22,031 
499,181 
31,573 
499,181 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
23,574 
VAT
- 
152 
Obligations under finance leases and hire purchase contracts
17,739 
- 
Trade creditors
10,096 
9,602 
Taxes and social security
23,095 
2,301 
Other creditors
- 
9,325 
Accruals
15,797 
4,400 
66,727 
49,354 
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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 
£ 
£ 
Bank loans
- 
26,985 
Obligations under finance leases and hire purchase contracts
82,191 
- 
Other creditors
46,794 
45,798 
Loans from directors
163,328 
1,049,744 
292,313 
1,122,527 
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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