Registration number:
Stanlake Properties Ltd
for the
Year Ended 30 June 2024
Stanlake Properties Ltd
Company Information
Directors |
Miss Isabella Anna Gavazzi Mr Guido Martino Egidi |
Registered office |
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Accountants |
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Stanlake Properties Ltd
(Registration number: 04627925)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Stanlake Properties Ltd
(Registration number: 04627925)
Balance Sheet as at 30 June 2024
......................................... |
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 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
Transfers |
- |
- |
- |
(23,451) |
(23,451) |
Other movements on reserves |
- |
- |
23,451 |
- |
23,451 |
At 30 June 2024 |
|
|
|
|
|
Share capital |
Revaluation reserve |
Fair value reserves |
Retained earnings |
Total |
|
At 1 July 2022 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
Dividends |
- |
- |
- |
( |
( |
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
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Stanlake Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
UK corporation tax adjustment to prior periods |
|
( |
8,164 |
4,592 |
|
Deferred taxation |
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Arising from revaluation of property |
|
- |
Arising from fixed assets |
( |
|
Total deferred taxation |
|
|
Tax expense in the income statement |
|
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Tangible assets |
Fixtures and fittings |
Computer equipment |
Total |
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Cost or valuation |
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At 1 July 2023 |
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|
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At 30 June 2024 |
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|
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Depreciation |
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At 1 July 2023 |
|
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Charge for the year |
|
- |
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At 30 June 2024 |
|
|
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Investment properties |
2024 |
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At 1 July |
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Fair value adjustments |
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At 30 June |
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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
Debtors |
Current |
2024 |
2023 |
Other debtors |
- |
|
- |
|
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Corporation tax |
|
|
Accruals and deferred income |
|
|
Directors current account |
443,869 |
472,876 |
|
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Creditors: amounts falling due after more than one year
2024 |
2023 |
|
Due after one year |
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Amount owed to holding company |
|
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Dividends |
Dividend of £4,000 (2023: £4000) was paid during the year.
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 |
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Stanlake Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
2023 |
Associates |
Dividends paid to related party |
|
|
Loans from related parties
2024 |
Associates |
Total |
At start of period |
|
|
At end of period |
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|
|
2023 |
Associates |
Total |
At start of period |
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|
At end of period |
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