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COMPANY REGISTRATION NUMBER: 01146581
Robert Stamp and Associates Limited
Filleted Unaudited Financial Statements
31 August 2024
Robert Stamp and Associates Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,475,375
3,473,246
Current assets
Stocks
1,161,048
1,221,485
Debtors
6
89,345
58,124
Cash at bank and in hand
278,886
474,280
------------
------------
1,529,279
1,753,889
Creditors: amounts falling due within one year
7
404,560
242,602
------------
------------
Net current assets
1,124,719
1,511,287
------------
------------
Total assets less current liabilities
4,600,094
4,984,533
------------
------------
Capital and reserves
Called up share capital
30,937
30,937
Revaluation reserve
1,524,320
1,524,320
Capital redemption reserve
18,750
18,750
Profit and loss account
3,026,087
3,410,526
------------
------------
Shareholders funds
4,600,094
4,984,533
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Robert Stamp and Associates Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
Mr H J Stamp
Director
Company registration number: 01146581
Robert Stamp and Associates Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingston House, High Street, Nettlebed, Oxon, RG9 5DD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
Going Concern The directors have reviewed the company's finances. The company has considerable financial resources together with a strong net current asset balance. The directors are confident about the company's future income streams despite the effects of the Covid pandemic on trading and the "lockdown" on movement. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. Accordingly, the board have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for this reason have adopted the going concern basis in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture & fittings
-
25.00% Straight line - (no charge in year of acquisition)
Motor Vehicle
-
25.00% Straight line - (no charge in year of acquisition)
Equipment
-
25.00% Straight line - (no charge in year of acquisition)
Depreciation is not provided on freehold and leasehold properties, which is in accordance with Financial Reporting Standard 102 (effective January 2016) but is a departure from the general requirements of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost is taken as the original purchase price plus any additional cost (ie upholstery etc) to bring the item to a saleable condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).
5. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Sep 2023
3,131,901
325,000
123,703
106,608
73,758
3,760,970
Additions
26,200
1,620
27,820
Disposals
( 20,700)
( 20,700)
------------
---------
---------
---------
--------
------------
At 31 Aug 2024
3,131,901
325,000
123,703
112,108
75,378
3,768,090
------------
---------
---------
---------
--------
------------
Depreciation
At 1 Sep 2023
123,703
106,788
57,233
287,724
Charge for the year
17,836
7,855
25,691
Disposals
( 20,700)
( 20,700)
------------
---------
---------
---------
--------
------------
At 31 Aug 2024
123,703
103,924
65,088
292,715
------------
---------
---------
---------
--------
------------
Carrying amount
At 31 Aug 2024
3,131,901
325,000
8,184
10,290
3,475,375
------------
---------
---------
---------
--------
------------
At 31 Aug 2023
3,131,901
325,000
( 180)
16,525
3,473,246
------------
---------
---------
---------
--------
------------
The freehold and leasehold properties held by the company are stated at valuation. The directors, Mr R H Stamp and Mr H J Stamp , have considered the values as at 31 August 2024 and confirm the that they are stated at open market value.
6. Debtors
2024
2023
£
£
Other debtors
89,345
58,124
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
60,000
60,000
Trade creditors
18,479
20,549
Social security and other taxes
7,586
20,393
Other creditors
318,495
141,660
---------
---------
404,560
242,602
---------
---------
8. Directors' advances, credits and guarantees
9. Related party transactions
Control The company is under the control of a director, Mr R H Stamp, who owns 100% (2023: 100%) of the called up share capital. Related party transactions During the year rent payable by the company to the R S and J H Pension Fund totalled £4,500 (2023: £4,500). Directors' loan accounts Included in debtors is an interest free loan to the director, Mr R Stamp, amounting to £28,771 (2023: debtor £7,162). Included in debtors is an interest free loan to the director, Mr H Stamp, amounting to £1,201 (2023: £1,201).