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COMPANY REGISTRATION NUMBER: 13197171
Stancliffe Homes (Bentley) Limited
Abridged Financial Statements
30 June 2024
Stancliffe Homes (Bentley) Limited
Abridged Financial Statements
Year Ended 30 June 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Independent auditor's report to the members
4
Abridged statement of comprehensive income
8
Abridged statement of financial position
9
Statement of changes in equity
10
Notes to the abridged financial statements
11
Stancliffe Homes (Bentley) Limited
Officers and Professional Advisers
The board of directors
Mr S Jones
Mr S P Jones
Registered office
Office 3
Markham Lane
Markham Vale
Chesterfield
Derbyshire
S44 5HY
Auditor
MCABA Limited t/a Mitchells
Chartered accountants & statutory auditor
91-97 Saltergate
Chesterfield
Derbyshire
S40 1LA
Bankers
HSBC Bank Plc
Market Place
Chesterfield
Derbyshire
S40 1TN
Stancliffe Homes (Bentley) Limited
Directors' Report
Year Ended 30 June 2024
The directors present their report and the abridged financial statements of the company for the year ended 30 June 2024 .
Directors
The directors who served the company during the year were as follows:
Mr S Jones
Mr S P Jones
Directors' responsibilities statement
The directors are responsible for preparing the directors' report and the abridged financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare abridged financial statements for each financial year. Under that law the directors have elected to prepare the abridged financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the abridged financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these abridged financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the abridged financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the abridged financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 5 February 2025 and signed on behalf of the board by:
Mr S Jones
Mr S P Jones
Director
Director
Stancliffe Homes (Bentley) Limited
Independent Auditor's Report to the Members of Stancliffe Homes (Bentley) Limited
Year Ended 30 June 2024
Opinion
We have audited the abridged financial statements of Stancliffe Homes (Bentley) Limited (the 'company') for the year ended 30 June 2024 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the abridged financial statements: - give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the abridged financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the abridged financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the abridged financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the abridged financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the abridged financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the abridged financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the abridged financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the abridged financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the abridged financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the abridged financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the directors' report for the financial year for which the abridged financial statements are prepared is consistent with the abridged financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the abridged financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the directors were not entitled to prepare the abridged financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the abridged financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of abridged financial statements that are free from material misstatement, whether due to fraud or error. In preparing the abridged financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the abridged financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at https: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Auditor's responsibilities for detecting irregularities, including fraud The objectives of our audit are: to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, UK corporate taxation laws, employment law, building regulations and health and safety laws. - We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to relevant members of the management team. We corroborated our inquiries though our review and inquiry into legal fees incurred in the year. - We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: - Identifying the controls management has in place to prevent and detect fraud and assessing the operation of these controls - Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process - Identifying and testing journal entries, in particular any journal entries that were large or unusual in nature - Assessing the extent of compliance with the relevant laws and regulations governing the company and the sector it operates within. This included a review of any potential breaches during and since the year end; and - Challenging assumptions and judgements made by management in its significant accounting estimates. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or collusion.
Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
David Waining FCA
(Senior Statutory Auditor)
For and on behalf of
MCABA Limited t/a Mitchells
Chartered accountants & statutory auditor
91-97 Saltergate
Chesterfield
Derbyshire
S40 1LA
5 February 2025
Stancliffe Homes (Bentley) Limited
Abridged Statement of Comprehensive Income
Year Ended 30 June 2024
2024
2023
Note
£
£
Gross Profit
518,551
Administrative expenses
289,642
39,525
---------
--------
Operating Profit/(Loss)
228,909
( 39,525)
Interest payable and similar expenses
7
170,293
---------
--------
Profit/(Loss) Before Taxation
58,616
( 39,525)
Tax on profit/(loss)
--------
--------
Profit/(Loss) for the Financial Year and Total Comprehensive Income
58,616
( 39,525)
--------
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Stancliffe Homes (Bentley) Limited
Abridged Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Current Assets
Stocks
5,823,057
2,545,185
Debtors
36,360
1,270
Cash at bank and in hand
196,195
58,005
------------
------------
6,055,612
2,604,460
Creditors: amounts falling due within one year
6,037,221
2,644,685
------------
------------
Net Current Assets/(Liabilities)
18,391
( 40,225)
--------
--------
Total Assets Less Current Liabilities
18,391
( 40,225)
--------
--------
Net Assets/(Liabilities)
18,391
( 40,225)
--------
--------
Capital and Reserves
Called up share capital
8
200
200
Profit and loss account
18,191
( 40,425)
--------
--------
Shareholders Funds/(Deficit)
18,391
( 40,225)
--------
--------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 5 February 2025 , and are signed on behalf of the board by:
Mr S Jones
Mr S P Jones
Director
Director
Company registration number: 13197171
Stancliffe Homes (Bentley) Limited
Statement of Changes in Equity
Year Ended 30 June 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 July 2022
100
( 900)
( 800)
Loss for the year
( 39,525)
( 39,525)
----
--------
--------
Total Comprehensive Income for the Year
( 39,525)
( 39,525)
Issue of shares
100
100
----
--------
--------
Total Investments by and Distributions to Owners
100
100
At 30 June 2023
200
( 40,425)
( 40,225)
Profit for the year
58,616
58,616
----
--------
--------
Total Comprehensive Income for the Year
58,616
58,616
----
--------
--------
At 30 June 2024
200
18,191
18,391
----
--------
--------
Stancliffe Homes (Bentley) Limited
Notes to the Abridged Financial Statements
Year Ended 30 June 2024
(continued)
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 3, Markham Lane, Markham Vale, Chesterfield, Derbyshire, S44 5HY.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Revenue is recognised as the fair value of the consideration received or receivable on legal completion of a newly built residential property sale.
Work in progress
Work in progress is stated at the lower of cost and net realisable value. Land with planning includes undeveloped land and land under development and is initially recorded at cost. Work in progress comprises direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads. Regular reviews are carried out to identify any impairment in the value of the land. Provision would be made to reflect any irrecoverable amounts.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Turnover
Turnover arises from:
2024
2023
£
£
Construction contracts
2,577,166
------------
----
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Auditor's remuneration
2024
2023
£
£
Fees payable for the audit of the abridged financial statements
6,400
-------
----
6. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
7. Interest payable and similar expenses
2024
2023
£
£
Interest on banks loans and overdrafts
170,293
---------
----
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
A Ordinary shares of £ 1 each
85
85
85
85
B Ordinary shares of £ 1 each
115
115
115
115
----
----
----
----
200
200
200
200
----
----
----
----
9. Related party transactions
During the year the company made/(received) short term loans to related parties. The balance outstanding due from/(to) related parties at the end of the financial year are as follows:
2024 2023
£ £
Amounts owed to entities holding a controlling interest ( 1,145,177) ( 725,327)
Amounts due to entities with signifcant influence (1,847,280) (1,847,280)
Amounts due to entities where holding a controlling interest (750)
The loans are unsecured, interest free and repayable on demand.
10. Controlling party
The Directors consider the ultimate parent undertaking to be Stancliffe Homes Limited, a company registered in England and Wales. The parent company's registered office address is Office 3 Markham Lane, Markham Vale, Chesterfield, England, S44 5HY.