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REGISTRAR OF COMPANIES

Registration number: 13002990

A&C Stanley Ltd

Unaudited Financial Statements

30 November 2024

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A&C Stanley Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A&C Stanley Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A&C Stanley Ltd for the year ended 30 November 2024 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of A&C Stanley Ltd, as a body, in accordance with the terms of our engagement letter dated 3 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of A&C Stanley Ltd and state those matters that we have agreed to state to the Board of Directors of A&C Stanley Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A&C Stanley Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A&C Stanley Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A&C Stanley Ltd. You consider that A&C Stanley Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A&C Stanley Ltd. 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 accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

12 March 2025

 

A&C Stanley Ltd

(Registration number: 13002990)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

167,164

-

Tangible assets

5

78,549

1,514

 

245,713

1,514

Current assets

 

Stocks

5,000

-

Debtors

6

21,173

34,073

Cash at bank and in hand

 

44,064

4,306

 

70,237

38,379

Creditors: Amounts falling due within one year

7

(74,983)

(33,042)

Net current (liabilities)/assets

 

(4,746)

5,337

Total assets less current liabilities

 

240,967

6,851

Creditors: Amounts falling due after more than one year

7

(223,768)

-

Provisions for liabilities

(16,636)

-

Net assets

 

563

6,851

Capital and reserves

 

Allotted, called up and fully paid share capital

2

2

Profit and loss account

561

6,849

Total equity

 

563

6,851

 

A&C Stanley Ltd

(Registration number: 13002990)
Balance Sheet as at 30 November 2024 (continued)

For the financial 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 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 12 March 2025 and signed on its behalf by:
 

.........................................

Dr A V Stanley

Director

 

A&C Stanley Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
59-61 High Street
WIGTON
CA7 9PG
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

For the year ended 30 November 2024 the company has opted to not prepare financial statements in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'. As such the financial statements have been prepared in accordance with FRS 102, involving a full retrospective restatement of assets and liabilities from the transition date, 1 December 2022. No transition adjustments have arisen.

The company has net liabilities at 30 November 2024 and meets its day to day working capital requirements through bank loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its bankers, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

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.

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

Plant and equipment

15% reducing balance basis

Furniture, fittings and office equipment

15% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 year straight line basis

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.

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 2).

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions

185,725

185,725

At 30 November 2024

185,725

185,725

Amortisation

Amortisation charge

18,561

18,561

At 30 November 2024

18,561

18,561

Carrying amount

At 30 November 2024

167,164

167,164

5

Tangible assets

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 December 2023

1,751

-

1,751

Additions

66,990

18,939

85,929

At 30 November 2024

68,741

18,939

87,680

Depreciation

At 1 December 2023

237

-

237

Charge for the year

6,420

2,474

8,894

At 30 November 2024

6,657

2,474

9,131

Carrying amount

At 30 November 2024

62,084

16,465

78,549

At 30 November 2023

1,514

-

1,514

6

Debtors

2024
£

2023
£

Trade debtors

6,287

15,047

Other debtors

14,886

19,026

21,173

34,073

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

20,197

18,626

Trade creditors

 

38,107

-

Taxation and social security

 

3,220

-

Corporation tax liability

 

5,103

11,294

Other creditors

 

8,356

3,122

 

74,983

33,042

Due after one year

 

Loans and borrowings

8

223,768

-

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Finance lease liabilities

10,197

-

Other borrowings

10,000

18,626

20,197

18,626

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Finance lease liabilities

10,197

-

Finance lease liabilities are secured on the assets to which they relate.

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

188,000

-

Finance lease liabilities

35,768

-

223,768

-

 

A&C Stanley Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Finance lease liabilities

35,768

-

Finance lease liabilities are secured on the assets to which they relate.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £266,000 (2023 - £Nil). Lease in respect of trading premises at £19,000 per annum with 14 years remaining term.

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 November 2024
£

Dr A V Stanley

Loan

-

2,272

(683)

-

-

-

1,589

               
         

C E Stanley

Loan

-

2,272

(683)

-

-

-

1,589

               
         

 

Directors' advances are repayable on demand.

No interest has been charged on advances to directors.