Company Registration No. 00095905 (England and Wales)
STAINER & BELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STAINER & BELL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
STAINER & BELL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
218,991
223,025
Investments
5
1,200,007
1,116,730
1,418,998
1,339,755
Current assets
Stocks
50,802
55,112
Debtors
6
42,568
97,181
Cash at bank and in hand
491,940
465,549
585,310
617,842
Creditors: amounts falling due within one year
7
(318,222)
(321,316)
Net current assets
267,088
296,526
Total assets less current liabilities
1,686,086
1,636,281
Creditors: amounts falling due after more than one year
8
(2,000)
(2,000)
Provisions for liabilities
-
0
(3,000)
Net assets
1,684,086
1,631,281
Capital and reserves
Called up share capital
30,909
30,909
Capital redemption reserve
42,015
42,015
Profit and loss reserves
11
1,611,162
1,558,357
Total equity
1,684,086
1,631,281
STAINER & BELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
AA Kearns
Director
Company registration number 00095905 (England and Wales)
STAINER & BELL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
As restated for the period ended 31 December 2023:
Balance at 1 January 2023
30,909
42,015
1,492,226
1,565,150
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
67,796
67,796
Dividends
-
-
(1,665)
(1,665)
Balance at 31 December 2023
30,909
42,015
1,558,357
1,631,281
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
54,470
54,470
Dividends
-
-
(1,665)
(1,665)
Balance at 31 December 2024
30,909
42,015
1,611,162
1,684,086
STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Stainer & Bell Limited is a private company limited by shares incorporated in England and Wales. The registered office is Victoria House, 23 Gruneisen Road, London, N3 1LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements are prepared on the going concern basis. Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least the next 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods, receipt of copyright fees and the provision of services in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from the sale of goods and copyright fees is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods or use of the material), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold buildings
2% on cost
Plant and machinery
25% and 33.3% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

The gain or loss arising on the disposal of a fixed asset investment is determined as the difference between the sale proceeds and the fair value of the asset at the date of disposal, and is credited or charged to the profit or loss as an exceptional item.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Work in progress is made up of costs of the publishing projects being undertaken for third parties where work is completed/paid for by Stainer & Bell Limited but not yet charged out to third parties.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of investments

Listed investments are tested for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of the listed investments have been permanently impaired. In order to determine if an impairment has occurred, the fair value of the listed investments are reviewed against market value which is provided annually by the investment custodians.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
8
STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
420,238
32,539
452,777
Additions
-
0
3,715
3,715
Disposals
-
0
(1,953)
(1,953)
At 31 December 2024
420,238
34,301
454,539
Depreciation and impairment
At 1 January 2024
199,252
30,500
229,752
Depreciation charged in the year
5,785
1,963
7,748
Eliminated in respect of disposals
-
0
(1,952)
(1,952)
At 31 December 2024
205,037
30,511
235,548
Carrying amount
At 31 December 2024
215,201
3,790
218,991
At 31 December 2023
220,986
2,039
223,025
STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
5
Fixed asset investments
2024
2023
£
£
Listed investments
1,200,007
1,116,730

Listed investments are held at fair value and gains/(losses) are recognised in the profit and loss account for the year. The market value is provided annually by the investment custodians which is deemed to be the fair value. On an historic cost basis, the investments would have been included at a book cost of £699,038 (2023: £667,029)

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2024
1,116,730
Additions
32,009
Revaluation
51,268
At 31 December 2024
1,200,007
Carrying amount
At 31 December 2024
1,200,007
At 31 December 2023
1,116,730
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
30,306
85,379
Other debtors
12,262
11,802
42,568
97,181
7
Creditors: amounts falling due within one year
2024
2023
£
£
as restated
Trade creditors
236,593
247,635
Corporation tax
32,306
20,600
Other taxation and social security
33,400
38,267
Other creditors
15,923
14,814
318,222
321,316
STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,000
2,000
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

2024
2023
Balances:
£
£
Accelerated capital allowances
(211)
(633)
Tax losses
(5,214)
(8,864)
Revaluations
7,027
14,053
Provisions
(1,602)
(1,556)
-
3,000
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
17,675
22,095
11
Profit and loss reserves

The profit and loss reserve contains £493,942 (2023: £435,648) in respect of listed investment revaluations which are not available for distribution to members.

STAINER & BELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
12
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Additional tax charge
-
(14,855)
Equity as previously reported
1,565,150
1,646,136
Equity as adjusted
1,565,150
1,631,281
Analysis of the effect upon equity
Profit and loss reserves
-
(14,855)
13
Directors' transactions

Dividends totalling £893 (2023 - £892) were paid in the year in respect of shares held by the company's directors.

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