The Old Stables Financial Services Ltd 05905714 true 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Financial services Digita Accounts Production Advanced 6.30.9574.0 true true 05905714 2023-09-01 2024-08-31 05905714 2024-08-31 05905714 core:RetainedEarningsAccumulatedLosses 2024-08-31 05905714 core:ShareCapital 2024-08-31 05905714 core:CurrentFinancialInstruments 2024-08-31 05905714 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05905714 core:FurnitureFittingsToolsEquipment 2024-08-31 05905714 bus:SmallEntities 2023-09-01 2024-08-31 05905714 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05905714 bus:FilletedAccounts 2023-09-01 2024-08-31 05905714 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05905714 bus:RegisteredOffice 2023-09-01 2024-08-31 05905714 bus:Director1 2023-09-01 2024-08-31 05905714 bus:EntityNoLongerTradingButTradedInPast 2023-09-01 2024-08-31 05905714 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05905714 core:Goodwill 2023-09-01 2024-08-31 05905714 core:FurnitureFittings 2023-09-01 2024-08-31 05905714 countries:AllCountries 2023-09-01 2024-08-31 05905714 2023-08-31 05905714 core:FurnitureFittingsToolsEquipment 2023-08-31 05905714 2022-09-01 2023-08-31 05905714 2023-08-31 05905714 core:RetainedEarningsAccumulatedLosses 2023-08-31 05905714 core:ShareCapital 2023-08-31 05905714 core:CurrentFinancialInstruments 2023-08-31 05905714 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 05905714

The Old Stables Financial Services Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

The Old Stables Financial Services Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

The Old Stables Financial Services Ltd

Company Information

Director

Mr Stephen John Parkin

Registered office

182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ

Accountants

G W Thompson & Co Accountants Limited
Chartered Certified Accountants
182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ

 

The Old Stables Financial Services Ltd

(Registration number: 05905714)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

20,800

20,800

Current assets

 

Debtors

6

25,895

25,895

Cash at bank and in hand

 

4

4

 

25,899

25,899

Creditors: Amounts falling due within one year

(7,989)

(7,989)

Net current assets

 

17,910

17,910

Net assets

 

38,710

38,710

Capital and reserves

 

Called up share capital

100

100

Retained earnings

38,610

38,610

Shareholders' funds

 

38,710

38,710

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.

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 October 2024
 

.........................................
Mr Stephen John Parkin
Director

 

The Old Stables Financial Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ
United Kingdom

The principal place of business is:
182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ
United Kingdom

These financial statements were authorised for issue by the director on 24 October 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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

Furniture and fittings

25% on cost.

 

The Old Stables Financial Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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 held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. 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

20% on a 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

The Old Stables Financial Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

26,000

At 31 August 2024

26,000

Amortisation

At 1 September 2023

5,200

At 31 August 2024

5,200

Carrying amount

At 31 August 2024

20,800

At 31 August 2023

20,800

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

650

650

At 31 August 2024

650

650

Depreciation

At 1 September 2023

650

650

At 31 August 2024

650

650

Carrying amount

At 31 August 2024

-

-

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.