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Registered number: 11779925
Stag Lettings Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11779925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 851,428 936,601
851,428 936,601
CURRENT ASSETS
Debtors 5 76,100 -
Cash at bank and in hand 118,168 52
194,268 52
Creditors: Amounts Falling Due Within One Year 6 (820,166 ) (746,661 )
NET CURRENT ASSETS (LIABILITIES) (625,898 ) (746,609 )
TOTAL ASSETS LESS CURRENT LIABILITIES 225,530 189,992
Creditors: Amounts Falling Due After More Than One Year 7 (103,603 ) (104,204 )
NET ASSETS 121,927 85,788
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 125,713 125,713
Profit and Loss Account (3,788 ) (39,927 )
SHAREHOLDERS' FUNDS 121,927 85,788
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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 Profit and Loss Account.
On behalf of the board
Mr Anthony Woods
Director
29/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stag Lettings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11779925 . The registered office is 72 The Cornfields Hebburn, Tyne And Wear, NE31 1YH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Freehold No Depreciation
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 February 2023 936,601
Additions 157,602
Disposals (242,775 )
As at 31 January 2024 851,428
Net Book Value
As at 31 January 2024 851,428
As at 1 February 2023 936,601
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Paul Leonard Loan 15,600 -
Fred Atkinson Loans 60,500 -
76,100 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 (1 )
Stag Renovations inter-company loan account 64,905 64,905
Mortgage 30 Telford 185,640 185,640
12 Sunderland Road mortgage - 150,000
15 Telford Street mortgage 155,816 118,575
24 Liddle Terrace mortgage 172,500 172,500
4 Telford Street 210,000 -
Accruals and deferred income 840 600
Director's loan account 30,464 54,442
820,166 746,661
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Mortgage 6 Chichester 60,000 60,000
Bounce back loan 43,603 44,204
103,603 104,204
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Revaluation Reserve
£
As at 1 February 2023 125,713
As at 31 January 2024 125,713
Page 4