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Registered number: 10901459
ST DEVELOPMENTS (CORNWALL ) LIMITED
Unaudited Financial Statements
For The Year Ended 31 August 2024
James Bendrey Accountants Ltd
Boscawen Park
St Dennis
St Austell
Cornwall
PL26 8DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10901459
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,047 67,727
57,047 67,727
CURRENT ASSETS
Stocks 5 159,605 320,199
Debtors 6 3,219 9,753
Cash at bank and in hand 66,669 27,663
229,493 357,615
Creditors: Amounts Falling Due Within One Year 7 (188,762 ) (191,023 )
NET CURRENT ASSETS (LIABILITIES) 40,731 166,592
TOTAL ASSETS LESS CURRENT LIABILITIES 97,778 234,319
Creditors: Amounts Falling Due After More Than One Year 8 (28,766 ) (252,555 )
NET ASSETS/(LIABILITIES) 69,012 (18,236 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 69,010 (18,238 )
SHAREHOLDERS' FUNDS 69,012 (18,236)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 BRIAN HANCOCK
Director
27/03/2025
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
ST DEVELOPMENTS (CORNWALL ) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10901459 . The registered office is C/o James Bendrey Accountants Ltd, Boscawen Park, St Dennis, St Austell, Cornwall, PL26 8DT.
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:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 58,101 35,489 458 94,048
Additions 3,581 - - 3,581
As at 31 August 2024 61,682 35,489 458 97,629
Depreciation
As at 1 September 2023 15,372 10,857 92 26,321
Provided during the period 9,262 4,926 73 14,261
As at 31 August 2024 24,634 15,783 165 40,582
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 August 2024 37,048 19,706 293 57,047
As at 1 September 2023 42,729 24,632 366 67,727
5. Stocks
2024 2023
£ £
Stock 159,605 320,199
6. Debtors
2024 2023
£ £
Due within one year
VAT 3,219 9,753
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,532 5,488
Accruals and deferred income 550 550
Directors' loan accounts 179,680 184,985
188,762 191,023
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan 23,765 34,094
PSA Finance 5,001 6,961
Natwest Loan - 211,500
28,766 252,555
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4