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COMPANY REGISTRATION NUMBER: 11702059
Stacks-Rutland Limited
Unaudited Financial Statements
30 November 2024
Stacks-Rutland Limited
Financial Statements
Year ended 30 November 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
Stacks-Rutland Limited
Directors' Report
Year ended 30 November 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .
Directors
The directors who served the company during the year were as follows:
Mr C W Rearden
Mrs H V Rearden
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 28 February 2025 and signed on behalf of the board by:
Mr C W Rearden
Director
Registered office:
New Sulehay Lodge
Apethorpe Road
Nassington
Peterborough
PE8 6QT
Stacks-Rutland Limited
Statement of Income and Retained Earnings
Year ended 30 November 2024
2024
2023
Note
£
£
Turnover
81,140
67,036
Cost of sales
( 1,473)
( 2,709)
--------
--------
Gross profit
82,613
69,745
Distribution costs
15,413
12,633
Administrative expenses
74,296
75,159
--------
--------
Operating loss
( 7,096)
( 18,047)
Other interest receivable and similar income
38
Interest payable and similar expenses
2,381
3,509
--------
--------
Loss before taxation
4
( 9,477)
( 21,518)
Tax on loss
789
--------
--------
Loss for the financial year and total comprehensive income
( 10,266)
( 21,518)
--------
--------
Dividends paid and payable
( 2,000)
Retained earnings at the start of the year
50,012
73,530
--------
--------
Retained earnings at the end of the year
39,746
50,012
--------
--------
All the activities of the company are from continuing operations.
Stacks-Rutland Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
4,000
Tangible assets
6
39,232
----
--------
43,232
Current assets
Debtors
7
4,411
126
Cash at bank and in hand
38,034
44,374
--------
--------
42,445
44,500
Creditors: amounts falling due within one year
8
2,499
12,486
--------
--------
Net current assets
39,946
32,014
--------
--------
Total assets less current liabilities
39,946
75,246
Creditors: amounts falling due after more than one year
9
25,034
--------
--------
Net assets
39,946
50,212
--------
--------
Capital and reserves
Called up share capital
200
200
Profit and loss account
39,746
50,012
--------
--------
Shareholders funds
39,946
50,212
--------
--------
These 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'.
For the year ending 30 November 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 .
Stacks-Rutland Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mr C W Rearden
Director
Company registration number: 11702059
Stacks-Rutland Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Sulehay Lodge, Apethorpe Road, Nassington, Peterborough, PE8 6QT.
2. Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise investment
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Amortisation of intangible assets
4,000
4,000
Depreciation of tangible assets
9,808
-------
-------
5. Intangible assets
Investments
£
Cost
At 1 December 2023 and 30 November 2024
20,000
--------
Amortisation
At 1 December 2023
16,000
Charge for the year
4,000
--------
At 30 November 2024
20,000
--------
Carrying amount
At 30 November 2024
--------
At 30 November 2023
4,000
--------
6. Tangible assets
Motor vehicles
£
Cost
At 1 December 2023
49,040
Disposals
( 49,040)
--------
At 30 November 2024
--------
Depreciation
At 1 December 2023
9,808
Disposals
( 9,808)
--------
At 30 November 2024
--------
Carrying amount
At 30 November 2024
--------
At 30 November 2023
39,232
--------
7. Debtors
2024
2023
£
£
Other debtors
4,411
126
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
763
Social security and other taxes
656
767
Other creditors
1,080
11,719
-------
--------
2,499
12,486
-------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
25,034
----
--------
10. Directors' advances, credits and guarantees
The directors account was overdrawn at the year end, however Mr Rearden has since repaid the amount .