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Registration number: 02843648

Stevenson Deane Property Co Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Stevenson Deane Property Co Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Stevenson Deane Property Co Limited

Balance Sheet

as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

77,772

44,412

Investment property

5

6,700,000

6,700,000

 

6,777,772

6,744,412

Current assets

 

Stocks

1,338

1,338

Debtors

6

20,106

18,714

Cash at bank and in hand

 

477,964

370,299

 

499,408

390,351

Creditors: Amounts falling due within one year

7

(278,942)

(244,770)

Net current assets

 

220,466

145,581

Total assets less current liabilities

 

6,998,238

6,889,993

Creditors: Amounts falling due after more than one year

7

(673,677)

(741,371)

Provisions for liabilities

(694,673)

(693,323)

Net assets

 

5,629,888

5,455,299

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

8

5,628,888

5,454,299

Shareholders' funds

 

5,629,888

5,455,299

Registration number: 02843648

 

Stevenson Deane Property Co Limited

Balance Sheet

as at 31 August 2024 (continued)

For the financial year ending 31 August 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
Mr C J Stevenson
Director

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 02843648.

The address of its registered office is:
Botany House
Macclesfield Road
Whaley Bridge
High Peak
Derbyshire
SK23 7DQ

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

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

Turnover also comprises the fair value of rent received in relation to the investment properties.

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 (or deemed cost), less any accumulated depreciation and 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Not depreciated

Freehold buildings

1% per annum on a straight line basis

Plant and machinery

20% per annum on a straight line basis

Motor vehicles

20% per annum on a straight line basis

Investment property

Investment properties are held in order to earn rental income or for capital appreciation (or both). They are initially measured at cost. The residual value and the useful life of the investment properties are reviewed at each financial year-end and, if expectations differ from previous estimates, any change is accounted for in the profit and loss account.

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 8 (2023 - 8).

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 September 2023

17,405

59,417

28,333

105,155

Additions

-

55,700

-

55,700

At 31 August 2024

17,405

115,117

28,333

160,855

Depreciation

At 1 September 2023

5,441

27,666

27,636

60,743

Charge for the year

269

21,723

348

22,340

At 31 August 2024

5,710

49,389

27,984

83,083

Net book value

At 31 August 2024

11,695

65,728

349

77,772

At 31 August 2023

11,964

31,751

697

44,412

5

Investment properties

2024
£

At 1 September

6,700,000

At 31 August

6,700,000

The directors are of the opinion that the value in the accounts reflects the fair value at the year end.

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,630

3,470

Prepayments

16,046

14,814

Other debtors

430

430

 

20,106

18,714

 

Stevenson Deane Property Co Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

7

Creditors

2024
£

2023
£

Due within one year

Bank loans

27,901

26,086

HP and finance lease liabilities

4,641

4,642

Other borrowings

36,097

34,339

Trade creditors

5,965

9,209

Directors loan accounts

4,740

4,570

Taxation and social security

41,421

40,886

Other creditors

31,542

14,365

Accruals and deferred income

65,688

57,125

Corporation tax

60,947

53,548

278,942

244,770

Due after one year

Bank loans

497,671

524,627

HP and finance lease liabilities

29,445

34,086

Redeemable preference shares

130,982

130,982

Other borrowings

15,579

51,676

673,677

741,371


 

Bank loans included in creditors amounts falling due within one year and after one year are secured on the company's investment properties.

8

Profit and loss account reserves

This includes the Fair Value Reserve of £2,024,333 (2023: £2,024,333), being the cumulative fair value adjustments to the investment properties of £2,699,111 (2023: £2,699,111) less the related deferred tax provision of £674,778 (2023: £674,778).