Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312025-05-022024-07-312025-05-01true12023-02-01falseProperty investment and management1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08829483 2023-02-01 2024-07-31 08829483 2022-02-01 2023-01-31 08829483 2024-07-31 08829483 2023-01-31 08829483 2022-02-01 08829483 5 2023-02-01 2024-07-31 08829483 5 2022-02-01 2023-01-31 08829483 d:Director1 2023-02-01 2024-07-31 08829483 e:FreeholdInvestmentProperty 2024-07-31 08829483 e:FreeholdInvestmentProperty 2023-01-31 08829483 e:FreeholdInvestmentProperty 2 2023-02-01 2024-07-31 08829483 e:CurrentFinancialInstruments 2024-07-31 08829483 e:CurrentFinancialInstruments 2023-01-31 08829483 e:Non-currentFinancialInstruments 2024-07-31 08829483 e:Non-currentFinancialInstruments 2023-01-31 08829483 e:CurrentFinancialInstruments e:WithinOneYear 2024-07-31 08829483 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 08829483 e:Non-currentFinancialInstruments e:AfterOneYear 2024-07-31 08829483 e:Non-currentFinancialInstruments e:AfterOneYear 2023-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-07-31 08829483 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-01-31 08829483 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-07-31 08829483 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-01-31 08829483 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-07-31 08829483 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-01-31 08829483 e:ShareCapital 2023-02-01 2024-07-31 08829483 e:ShareCapital 2024-07-31 08829483 e:ShareCapital 2022-02-01 2023-01-31 08829483 e:ShareCapital 2023-01-31 08829483 e:ShareCapital 2022-02-01 08829483 e:RevaluationReserve 2023-02-01 2024-07-31 08829483 e:RevaluationReserve 2024-07-31 08829483 e:RevaluationReserve 5 2023-02-01 2024-07-31 08829483 e:RevaluationReserve 2022-02-01 2023-01-31 08829483 e:RevaluationReserve 2023-01-31 08829483 e:RevaluationReserve 2022-02-01 08829483 e:RevaluationReserve 5 2022-02-01 2023-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2023-02-01 2024-07-31 08829483 e:RetainedEarningsAccumulatedLosses 2024-07-31 08829483 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2023-01-31 08829483 e:RetainedEarningsAccumulatedLosses 2022-02-01 08829483 d:FRS102 2023-02-01 2024-07-31 08829483 d:AuditExemptWithAccountantsReport 2023-02-01 2024-07-31 08829483 d:FullAccounts 2023-02-01 2024-07-31 08829483 d:PrivateLimitedCompanyLtd 2023-02-01 2024-07-31 08829483 5 2023-02-01 2024-07-31 08829483 f:PoundSterling 2023-02-01 2024-07-31 08829483 e:RetainedEarningsAccumulatedLosses 5 2023-02-01 2024-07-31 08829483 e:RetainedEarningsAccumulatedLosses 5 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 08829483










PAUL STALLARD PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
PAUL STALLARD PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAUL STALLARD PROPERTIES LIMITED
FOR THE PERIOD ENDED 31 JULY 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 Paul Stallard Properties Limited for the period ended 31 July 2024 which comprise  the Statement of financial position, the Statement of changes in equity and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Paul Stallard Properties Limited in accordance with the terms of our engagement letter dated 25th May 2023Our work has been undertaken solely to prepare for your approval the financial statements of Paul Stallard Properties Limited and state those matters that we have agreed to state to the director of Paul Stallard Properties Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Stallard Properties Limited and its director for our work or for this report. 

It is your duty to ensure that Paul Stallard Properties 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 loss of Paul Stallard Properties Limited. You consider that Paul Stallard Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Paul Stallard Properties 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.

  



McColes & Co (Herts) Ltd
 
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
2 May 2025
Page 1

 
PAUL STALLARD PROPERTIES LIMITED
REGISTERED NUMBER: 08829483

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

31 July
31 January
2024
2023
£
£

Fixed assets
  

Investment property
 4 
484,920
473,969

  
484,920
473,969

Current assets
  

Debtors: amounts falling due within one year
 5 
49,168
-

Cash at bank and in hand
  
1,603
1,464

  
50,771
1,464

Creditors: amounts falling due within one year
 6 
(27,170)
(58,128)

Net current assets/(liabilities)
  
 
 
23,601
 
 
(56,664)

Total assets less current liabilities
  
508,521
417,305

Creditors: amounts falling due after more than one year
 7 
(404,041)
(312,009)

Provisions for liabilities
  

Deferred tax
  
(32,113)
(26,253)

  
 
 
(32,113)
 
 
(26,253)

Net assets
  
72,367
79,043


Capital and reserves
  

Called up share capital 
  
99
99

Revaluation reserve
  
163,357
158,266

Profit and loss account
  
(91,089)
(79,322)

  
72,367
79,043


Page 2

 
PAUL STALLARD PROPERTIES LIMITED
REGISTERED NUMBER: 08829483
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 period 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 income and retained earnings 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 on 1 May 2025.




P E Stallard
Director

The notes on pages 6 to 12 form part of these financial statements.

Page 3

 
PAUL STALLARD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2023
99
158,266
(79,322)
79,043


Comprehensive income for the period

Loss for the period

-
-
(6,676)
(6,676)

Transfer to revaluation reserve
-
-
(5,091)
(5,091)


Other comprehensive income for the period
-
-
(5,091)
(5,091)


Total comprehensive income for the period
-
-
(11,767)
(11,767)


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
5,091
-
5,091


Total transactions with owners
-
5,091
-
5,091


At 31 July 2024
99
163,357
(91,089)
72,367


The notes on pages 6 to 12 form part of these financial statements.

Page 4

 
PAUL STALLARD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2022
99
133,079
(56,821)
76,357


Comprehensive income for the year

Loss for the year

-
-
(4,043)
(4,043)

Transfer to revaluation reserve
-
-
(18,458)
(18,458)


Other comprehensive income for the year
-
-
(18,458)
(18,458)


Total comprehensive income for the year
-
-
(22,501)
(22,501)


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
25,187
-
25,187


Total transactions with owners
-
25,187
-
25,187


At 31 January 2023
99
158,266
(79,322)
79,043


The notes on pages 6 to 12 form part of these financial statements.

Page 5

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Going concern

At 31st July 2024, the Company's distributable reserves were overdrawn by £91,089.  The Company is reliant on the support of the director.  It is the intention of the director to support the Company and therefore these accounts have been prepared on a going concern basis.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

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.

 
1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 6

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.6

Current and deferred taxation

The tax expense for the period 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.


 
1.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
1.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 7

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

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.

 
1.11

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.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 08829483
Its Registered Office is:
Unit 2, Elms Yard
Stevenage Road
Little Wymondley
Hitchin
Hertfordshire
SG4 7HP


3.


Employees

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

Page 8

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

4.


Investment property





Freehold investment property

£



Valuation


At 1 February 2023
473,969


Surplus on revaluation
10,951



At 31 July 2024
484,920

The 2024 valuations were made by Nationwide House Price Calculator, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

31 July
31 January
2024
2023
£
£


Historic cost
289,450
289,450

289,450
289,450

Page 9

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

5.


Debtors

31 July
31 January
2024
2023
£
£


Other debtors
49,168
-

49,168
-



6.


Creditors: Amounts falling due within one year

31 July
31 January
2024
2023
£
£

Bank loans
9,225
8,883

Corporation tax
15,965
3,329

Other creditors
-
44,596

Accruals and deferred income
1,980
1,320

27,170
58,128


Page 10

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

7.


Creditors: Amounts falling due after more than one year

31 July
31 January
2024
2023
£
£

Bank loans
369,074
277,042

Other creditors
34,967
34,967

404,041
312,009


The following liabilities were secured:

31 July
31 January
2024
2023
£
£



Bank loans
359,605
253,837

359,605
253,837

Details of security provided:

The company owns various investment properties, the properties have borrowings secured on them.  The borrowings are secured in favour of the relevant bank that the finance has been obtained.  The charges include fixed and floating charges as well as negative pledges against specific properties.  The total amount of secured borrowings if £359,605, all of which is due over one year due to the mortgages being on interest only repayment terms.

Page 11

 
PAUL STALLARD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

8.


Loans


Analysis of the maturity of loans is given below:


31 July
31 January
2024
2023
£
£

Amounts falling due within one year

Bank loans
9,222
8,883


9,222
8,883

Amounts falling due 1-2 years

Bank loans
9,455
9,107


9,455
9,107

Amounts falling due 2-5 years

Bank loans
-
14,095


-
14,095

Amounts falling due after more than 5 years

Bank loans
359,619
253,839

359,619
253,839

378,296
285,924


Included in bank loans and overdrafts due under one year is £9,222 and due over one year is £9,455 relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.


9.


Related party transactions

The amount due from the director P E Stallard and included in other debtors at the reporting date was £36,761; (2023: £44,595 in other creditors). The loan does not attract a rate of interest and is repayable on demand.

 
Page 12