Company registration number:
for the Year Ended
Staplecote Limited
(Registration number: 08370111)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
193,000 |
193,000 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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Deferred tax liabilities |
(8,819) |
(10,790) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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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.
Director's responsibilities:
• |
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• |
The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Staplecote Limited
(Registration number: 08370111)
Balance Sheet as at 30 April 2024
Approved and authorised by the
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Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
These financial statements are presented in Sterling (£).
Turnover recognition
Turnover consists of profit share from Maitland Walker LLP and is recognised on an accruals basis.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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 on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation of tangible assets
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 |
Motor Vehicles |
Straight line over lease term |
Investments
Investments in unquoted businesses where fair value cannot be measured reliably is measured at cost less impairment.
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.
Debtors
Other debtors comprise amounts due from Maitland Walker LLP plus amounts owed to the company by its director.
Other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method.
Creditors
Other creditors comprise amounts payable to Maitland Walker LLP, accruals for expenses payable and amounts owed to the director. Other 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.
Other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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
Dividend 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.
Defined contribution pension obligation
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
Tangible assets |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 May 2023 |
193,000 |
193,000 |
At 30 April 2024 |
193,000 |
193,000 |
Impairment |
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At 1 May 2023 |
- |
- |
At 30 April 2024 |
- |
- |
Carrying amount |
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At 30 April 2024 |
|
193,000 |
At 30 April 2023 |
|
193,000 |
Debtors |
Current |
2024 |
2023 |
Prepayments |
|
- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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- |
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Staplecote Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Non-current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Related party transactions |
Transactions with the director |
2024 |
At 1 May 2023 |
Advances to director |
Repayments by director |
At 30 April 2024 |
B J B Slade |
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Director's current account |
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|
( |
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2023 |
At 1 May 2022 |
Advances to director |
Repayments by director |
At 30 April 2023 |
B J B Slade |
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Director's current account |
- |
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( |
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