Stephens Property Development Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
266,229
271,893
Cash at bank and in hand
16,947
24,040
Creditors: amounts falling due within one year
(163,114)
(165,820)
Net current liabilities
(146,167)
(140,447)
Total assets less current liabilities
120,062
131,446
Creditors: amounts falling due after more than one year
(113,737)
(126,237)
Profit and loss account
6,325
5,209
Shareholders' funds
6,325
5,209
For the year ending 30 September 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 June 2025 and were signed on its behalf by
Stuart Stephens
Director
Company Registration No. 12192738
Stephens Property Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
Stephens Property Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 12192738. The registered office is Unit 5 & 6 Cks Supermarket Rhoshendre, Waunfawr, Aberystwyth, SY23 3QH, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line
Fixtures & fittings
Straight line
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2023
277,700
5,521
283,221
At 30 September 2024
277,700
5,521
283,221
At 1 October 2023
11,108
220
11,328
Charge for the year
5,554
110
5,664
At 30 September 2024
16,662
330
16,992
At 30 September 2024
261,038
5,191
266,229
At 30 September 2023
266,592
5,301
271,893
Amounts falling due after more than one year
Stephens Property Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
24,216
26,556
Taxes and social security
177
3,368
Other creditors
108,000
108,000
Loans from directors
27,400
27,400
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
113,737
124,904
8
Guarantees provided on behalf of directors
The director has advanced funds to the company to provide working capital. The amount owed to the director at the year end was £27,400 (2023: £27,400)
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).