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Registered number: 04036282
Staple Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Passman Leonard Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04036282
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 291,026 291,027
291,026 291,027
CURRENT ASSETS
Debtors 5 56,986 52,801
Cash at bank and in hand 2,008 3,367
58,994 56,168
Creditors: Amounts Falling Due Within One Year 6 (840 ) (840 )
NET CURRENT ASSETS (LIABILITIES) 58,154 55,328
TOTAL ASSETS LESS CURRENT LIABILITIES 349,180 346,355
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,687 ) (5,687 )
NET ASSETS 343,493 340,668
CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 29,929 29,929
Profit and Loss Account 313,464 310,639
SHAREHOLDERS' FUNDS 343,493 340,668
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr William Staple
Director
14 April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Staple Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04036282 . The registered office is Bartlemas, 7 Dover Road, Sandwich, Kent, CT13 0BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No Depreciation
Fixtures & Fittings 20% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 291,021 486 291,507
As at 31 July 2024 291,021 486 291,507
Depreciation
As at 1 August 2023 - 480 480
Provided during the period - 1 1
As at 31 July 2024 - 481 481
...CONTINUED
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Page 4
Net Book Value
As at 31 July 2024 291,021 5 291,026
As at 1 August 2023 291,021 6 291,027
The investment property was revauled as at 31st July 2024, on an open market basis by the director of the company. The historical cost of the property included at a valuation of £291,021 (2023- £291,021) was £261,092 (2023 - £261,092).
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 56,986 52,801
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals 840 840
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
8. Ultimate Controlling Party
The company's ultimate controlling party is Mr William Philip Staple by virtue of his ownership of 100% of the issued share capital in the company.
Page 4