1 June 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP051207512023-06-012024-05-31051207512024-05-31051207512023-05-3105120751core:WithinOneYear2024-05-3105120751core:WithinOneYear2023-05-3105120751core:ShareCapital2024-05-3105120751core:ShareCapital2023-05-3105120751core:RetainedEarningsAccumulatedLosses2024-05-3105120751core:RetainedEarningsAccumulatedLosses2023-05-3105120751bus:Director12023-06-012024-05-3105120751bus:Director22023-06-012024-05-3105120751bus:Director32023-06-012024-05-3105120751bus:RegisteredOffice2023-06-012024-05-3105120751core:OfficeEquipment2023-06-012024-05-3105120751core:FurnitureFittingsToolsEquipment2023-06-012024-05-31051207512022-06-012023-05-3105120751core:PlantMachinery2024-05-3105120751core:PlantMachinery2023-06-0105120751core:PlantMachinery2023-06-012024-05-3105120751core:PlantMachinery2023-05-3105120751core:BetweenOneFiveYears2023-05-310512075112023-06-012024-05-3105120751countries:EnglandWales2023-06-012024-05-3105120751bus:AuditExemptWithAccountantsReport2023-06-012024-05-3105120751bus:PrivateLimitedCompanyLtd2023-06-012024-05-3105120751bus:SmallEntities2023-06-012024-05-3105120751bus:FullAccounts2023-06-012024-05-31
Company registration number:
05120751
Staples & King Lettings Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Staples & King Lettings Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Staples & King Lettings Limited
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Staples & King Lettings Limited
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Barnes Mayer Limited
One
St. Peters Road
Maidenhead
Berkshire
SL6 7QU
United Kingdom
Date:
23 January 2025
Staples & King Lettings Limited
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
2,175
 
3,431
 
Current assets    
Debtors 6
4,998
 
5,925
 
Cash at bank and in hand
138,020
 
135,269
 
143,018
 
141,194
 
Creditors: amounts falling due within one year 7
(49,767
)
(41,435
)
Net current assets
93,251
 
99,759
 
Total assets less current liabilities 95,426   103,190  
Provisions for liabilities
(414
)
(652
)
Net assets
95,012
 
102,538
 
Capital and reserves    
Called up share capital
999
 
999
 
Profit and loss account
94,013
 
101,539
 
Shareholders funds
95,012
 
102,538
 
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.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
23 January 2025
, and are signed on behalf of the board by:
D Staples
J Park
R King
DirectorDirectorDirector
Company registration number:
05120751
Staples & King Lettings Limited
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
33 Elmshott Lane
,
Cippenham
,
Berkshire
,
SL1 5QS
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line
Fixtures, fittings and equipment
10% straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
9.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 June 2023
and
31 May 2024
20,647
 
Depreciation  
At
1 June 2023
17,216
 
Charge
1,256
 
At
31 May 2024
18,472
 
Carrying amount  
At
31 May 2024
2,175
 
At 31 May 2023
3,431
 

6 Debtors

20242023
££
Other debtors
4,998
 
5,925
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
282
 
250
 
Taxation and social security
47,770
 
38,532
 
Other creditors
1,715
 
2,653
 
49,767
 
41,435
 

8 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
1,041
 
0.00
 
Later than 1 year and not later than 5 years- 
6,499
 
1,041
 
6,499