Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-301falseHolding investments2023-07-01falsetrue1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06293114 2023-07-01 2024-06-30 06293114 2022-07-01 2023-06-30 06293114 2024-06-30 06293114 2023-06-30 06293114 c:Director1 2023-07-01 2024-06-30 06293114 d:CurrentFinancialInstruments 2024-06-30 06293114 d:CurrentFinancialInstruments 2023-06-30 06293114 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06293114 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06293114 d:ShareCapital 2024-06-30 06293114 d:ShareCapital 2023-06-30 06293114 d:SharePremium 2024-06-30 06293114 d:SharePremium 2023-06-30 06293114 d:RetainedEarningsAccumulatedLosses 2024-06-30 06293114 d:RetainedEarningsAccumulatedLosses 2023-06-30 06293114 c:FRS102 2023-07-01 2024-06-30 06293114 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06293114 c:FullAccounts 2023-07-01 2024-06-30 06293114 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06293114 6 2023-07-01 2024-06-30 06293114 1 2024-06-30 06293114 2 2024-06-30 06293114 1 2023-06-30 06293114 2 2023-06-30 06293114 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 06293114









STONEHOUSE INVESTMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 8


 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
  
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ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STONEHOUSE INVESTMENT COMPANY LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stonehouse Investment Company Limited for the year ended 30 June 2024 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW), which are detailed at icaew.com/regulations.

It is your duty to ensure that Stonehouse Investment Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stonehouse Investment Company Limited. You consider that Stonehouse Investment Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Stonehouse Investment Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Use of this report
This report is made solely to the director of Stonehouse Investment Company Limited in accordance with the terms of our engagement letter dated 23 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Stonehouse Investment Company Limited and state those matters that we have agreed to state to the director of Stonehouse Investment Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stonehouse Investment Company Limited and its director for our work or for this report. 

  



Evelyn Partners LLP
 
Portwall Place
Portwall Lane
Bristol
BS1 6NA
 
Date: 
28 March 2025
Page 1

 
STONEHOUSE INVESTMENT COMPANY LIMITED
REGISTERED NUMBER:06293114

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
7,324,493
6,532,249

Current assets
  

Bank and cash balances
  
185,166
318,701

  
185,166
318,701

Creditors: amounts falling due within one year
 5 
(8,681)
(13,757)

Net current assets
  
 
 
176,485
 
 
304,944

Provisions for liabilities
  

Deferred tax
  
(6,421)
(6,421)

Net assets
  
 
 
7,494,557
 
 
6,830,772


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Share premium account
 6 
898,260
898,260

Profit and loss account
 6 
6,586,297
5,922,512

  
7,494,557
6,830,772


Page 2

 
STONEHOUSE INVESTMENT COMPANY LIMITED
REGISTERED NUMBER:06293114
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W B Warburton
Director

Date: 27 March 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Stonehouse Investment Company Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Portwall Place, Portwall Lane, Bristol, BS1 6NA. The registered number of the company is 06293114.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements are prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” as applied in the context of the small entities regime and the Companies Act 2006.
The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The director has considered the Company's ability to continue as a going concern for at least 12 months.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Valuation of investments

Investments in unlisted company shares are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each statement of financial position. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 5

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 -1).

Page 6

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 July 2023
5,349,745
1,263,001
6,612,746


Additions
92,783
607,077
699,860


Disposals
(453,647)
-
(453,647)


Fair value movement
546,031
-
546,031



At 30 June 2024

5,534,912
1,870,078
7,404,990



Impairment


At 1 July 2023
-
80,497
80,497



At 30 June 2024

-
80,497
80,497



Net book value



At 30 June 2024
5,534,912
1,789,581
7,324,493



At 30 June 2023
5,349,745
1,182,504
6,532,249

During the year fair value movement was recognised in the profit and loss of £595,046 (2023 - £99,011).


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,660
6,960

Other creditors
353
353

Accruals and deferred income
1,668
6,444

8,681
13,757



6.


Reserves

Included in the profit and loss account at 30 June 2024 is a balance of £1,530,722 (2023 - £984,691) which is not distributable for dividend purposes.

Page 7

 
STONEHOUSE INVESTMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Capital commitments


At 30 June 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
437,923
1,000,000

437,923
1,000,000

 
Page 8