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Registration number: 04627925

Stanlake Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Stanlake Properties Ltd

Company Information

Directors

Miss Isabella Anna Gavazzi

Mr Guido Martino Egidi

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
Chartered Accountants9 Berners Place
London
W1T 3AD

 

Stanlake Properties Ltd

(Registration number: 04627925)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,501

10,626

Investment property

6

1,970,000

1,950,000

 

1,978,501

1,960,626

Current assets

 

Debtors

7

-

90

Cash at bank and in hand

 

2,582

2,167

 

2,582

2,257

Creditors: Amounts falling due within one year

8

(456,736)

(479,835)

Net current liabilities

 

(454,154)

(477,578)

Total assets less current liabilities

 

1,524,347

1,483,048

Creditors: Amounts falling due after more than one year

8

(500,637)

(500,637)

Provisions for liabilities

(215,226)

(210,389)

Net assets

 

808,484

772,022

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

389,194

389,194

Fair value reserves

256,484

233,033

Retained earnings

162,706

149,695

Shareholders' funds

 

808,484

772,022

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

 

Stanlake Properties Ltd

(Registration number: 04627925)
Balance Sheet as at 30 June 2024

.........................................
Mr Guido Martino Egidi
Director

 

Stanlake Properties Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Revaluation reserve
£

Fair value reserves
£

Retained earnings
£

Total
£

At 1 July 2023

100

389,194

233,033

149,695

772,022

Profit for the year

-

-

-

36,462

36,462

Transfers

-

-

-

(23,451)

(23,451)

Other movements on reserves

-

-

23,451

-

23,451

At 30 June 2024

100

389,194

256,484

162,706

808,484

Share capital
£

Revaluation reserve
£

Fair value reserves
£

Retained earnings
£

Total
£

At 1 July 2022

100

389,194

233,033

127,414

749,741

Profit for the year

-

-

-

26,281

26,281

Dividends

-

-

-

(4,000)

(4,000)

At 30 June 2023

100

389,194

233,033

149,695

772,022

 

Stanlake Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the Board on 25 March 2025.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises rental income received from investment properties in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Stanlake Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

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

Fixtures & fittings

20% on written down value

Computer equipment

33% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Stanlake Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

6,021

4,679

UK corporation tax adjustment to prior periods

2,143

(87)

8,164

4,592

Deferred taxation

Arising from revaluation of property

5,000

-

Arising from fixed assets

(163)

1,759

Total deferred taxation

4,837

1,759

Tax expense in the income statement

13,001

6,351

5

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 July 2023

29,135

2,589

31,724

At 30 June 2024

29,135

2,589

31,724

Depreciation

At 1 July 2023

18,510

2,588

21,098

Charge for the year

2,125

-

2,125

At 30 June 2024

20,635

2,588

23,223

Carrying amount

At 30 June 2024

8,500

1

8,501

At 30 June 2023

10,625

1

10,626

6

Investment properties

2024
£

At 1 July

1,950,000

Fair value adjustments

20,000

At 30 June

1,970,000

There has been no valuation of investment property by an independent valuer.

The cost of the properties were £1,109,095.

 

Stanlake Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

Current

2024
£

2023
£

Other debtors

-

90

 

-

90

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

8,332

4,679

Accruals and deferred income

4,535

2,280

Directors current account

443,869

472,876

456,736

479,835

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amount owed to holding company

500,637

500,637

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Dividends

Dividend of £4,000 (2023: £4000) was paid during the year.

11

Related party transactions

Stanlake Holding Ltd owns 50% of the share capital of Stanlake Properties Ltd

Expenditure with and payables to related parties

2024

Associates
£

Dividends paid to related party

2,000

 

Stanlake Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2023

Associates
£

Dividends paid to related party

2,000

Loans from related parties

2024

Associates
£

Total
£

At start of period

500,637

500,637

At end of period

500,637

500,637

2023

Associates
£

Total
£

At start of period

500,637

500,637

At end of period

500,637

500,637