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Registered number: 04210084










STOCKBOURNE GROUP LIMITED

UNAUDITED
DIRECTORS' REPORT
AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2024
 






 



 






 
STOCKBOURNE GROUP LIMITED
 

COMPANY INFORMATION


Directors
M J Rickards FRICS 
D J Williams MRICS 




Company secretary
M J Rickards FRICS



Registered number
04210084



Registered office
Suite 1, Silwood Business Centre
Silwood Park, Buckhurst Road

Ascot

Berkshire

SL5 7PW




Accountants
Wellden Turnbull Limited
Chartered Accountants

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
STOCKBOURNE GROUP LIMITED
 

CONTENTS



Page
Directors' Report
 
 
1
Accountants' Report
 
 
2
Consolidated Statement of Comprehensive Income
 
 
3
Consolidated Balance Sheet
 
 
4 - 5
Company Balance Sheet
 
 
6 - 7
Consolidated Statement of Changes in Equity
 
 
8 - 9
Company Statement of Changes in Equity
 
 
10
Notes to the Financial Statements
 
 
11 - 22


 
STOCKBOURNE GROUP LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The Directors present their report and the financial statements for the year ended 31 October 2024.

Principal activities

The principal actitivities of the Group in the year under review continued to be of investment in commercial properties for letting and the development and dealing in commercial property.

Directors

The Directors who served during the year were:

M J Rickards FRICS 
D J Williams MRICS 

Commercial property stock

The commercial property stock of the Group is recorded at a cost of £11,785,761. This is accordance with FRS 102 accounting regulations. As at the year end the market value of the property was £20,500,000. The 2024 valuations were made by M J Rickards FRICS, a director of the Group, on an open market value for existing use basis.
The shareholders' consolidated funds based on FRS 102 at the year end amounted to £6,106,347 and would be £15,842,108 (2023 - £15,296,809) based upon the market value of commercial property stock.

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M J Rickards FRICS
Director

Date: 29 July 2025

Page 1

 
STOCKBOURNE GROUP LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STOCKBOURNE GROUP LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stockbourne Group Limited for the year ended 31 October 2024 which comprise  the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes from the Group's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Stockbourne Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stockbourne Group Limited and state those matters that we have agreed to state to the Board of Directors of Stockbourne Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stockbourne Group Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Stockbourne Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stockbourne Group Limited. You consider that Stockbourne Group Limited is exempt from the statutory audit requirement for the year.

  



Wellden Turnbull Limited
 
Chartered Accountants
  
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
29 July 2025
Page 2

 
STOCKBOURNE GROUP LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

  

Turnover
  
5,954,304
2,768,212

Cost of sales
  
(4,146,441)
(2,187,194)

Gross profit
  
1,807,863
581,018

Administrative expenses
  
(696,268)
(539,070)

Other operating income
  
144,218
128,913

Fair value movements
  
-
44,100

Operating profit
  
1,255,813
214,961

Interest receivable and similar income
  
14,301
5,120

Interest payable and similar expenses
  
(829,582)
(791,837)

Profit/(loss) before tax
  
440,532
(571,756)

Tax on profit/(loss)
  
(105,773)
77,230

Profit/(loss) for the financial year
  
334,759
(494,526)

Other comprehensive income for the year
  

Fair value losses on swap arrangements
  
(155,621)
(125,330)

Deferred tax arising on fair value losses
  
38,905
79,466

Other comprehensive income for the year
  
(116,716)
(45,864)

Total comprehensive income for the year
  
218,043
(540,390)

Profit for the year attributable to:
  

Owners of the parent company
  
334,759
(494,526)

Total comprehensive income attributable to:
  

The notes on pages 11 to 22 form part of these financial statements.

Page 3

 
STOCKBOURNE GROUP LIMITED
REGISTERED NUMBER: 04210084

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
                                                                      Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
1,934
40,983

Investment property
 6 
4,325,000
4,325,000

  
4,326,934
4,365,983

Current assets
  

Stocks
 7 
11,785,761
14,763,820

Debtors: amounts falling due after more than one year
 8 
195,686
351,307

Debtors: amounts falling due within one year
 8 
1,254,877
927,457

Cash at bank and in hand
 9 
1,893,811
2,022,579

  
15,130,135
18,065,163

Creditors: amounts falling due within one year
 10 
(948,454)
(1,059,768)

Net current assets
  
 
 
14,181,681
 
 
17,005,395

Total assets less current liabilities
  
18,508,615
21,371,378

Creditors: amounts falling due after more than one year
 11 
(11,887,631)
(13,477,207)

Provisions for liabilities
  

Deferred taxation
 14 
(514,637)
(553,542)

  
 
 
(514,637)
 
 
(553,542)

Net assets
  
6,106,347
7,340,629


Capital and reserves
  

Called up share capital 
 15 
156
156

Revaluation reserve
 16 
1,954,913
1,954,913

Other reserves
 16 
146,764
263,480

Profit and loss account
 16 
4,004,514
5,122,080

Shareholders' funds
  
6,106,347
7,340,629


Page 4

 
STOCKBOURNE GROUP LIMITED
REGISTERED NUMBER: 04210084

CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 1A Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2025.




M J Rickards FRICS
Director

The notes on pages 11 to 22 form part of these financial statements.



Page 5

 
STOCKBOURNE GROUP LIMITED
REGISTERED NUMBER: 04210084

COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
                                                                       Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
1,934
40,983

Investments
 5 
3,330,307
3,330,307

  
3,332,241
3,371,290

Current assets
  

Debtors: amounts falling due within one year
 8 
15,419,687
14,464,959

Bank and cash balances
 9 
321,786
177,528

  
15,741,473
14,642,487

Creditors: amounts falling due within one year
 10 
(19,042,602)
(17,929,383)

Net current liabilities
  
 
 
(3,301,129)
 
 
(3,286,896)

Total assets less current liabilities
  
31,112
84,394

  

Creditors: amounts falling due after more than one year
 11 
-
(57,251)

  

Net assets
  
31,112
27,143


Capital and reserves
  

Called up share capital 
 15 
156
156

Profit and loss account brought forward
 16 
26,987
14,943

Profit for the year
  
1,456,294
1,212,044

Other changes in the profit and loss account

  

(1,452,325)
(1,200,000)

Profit and loss account carried forward
  
30,956
26,987

Shareholders' funds
  
31,112
27,143


Page 6

 
STOCKBOURNE GROUP LIMITED
REGISTERED NUMBER: 04210084

COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The Directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2025.


M J Rickards FRICS
Director

The notes on pages 11 to 22 form part of these financial statements.

Page 7

 
STOCKBOURNE GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2023
156
1,954,913
263,480
5,122,080
7,340,629


Comprehensive income for the year

Profit for the year

-
-
-
334,759
334,759

Fair value losses on swaps
-
-
(155,621)
-
(155,621)

Deferred tax arising on fair value losses
-
-
38,905
-
38,905


Other comprehensive income for the year
-
-
(116,716)
-
(116,716)


Total comprehensive income for the year
-
-
(116,716)
334,759
218,043


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(1,452,325)
(1,452,325)


Total transactions with owners
-
-
-
(1,452,325)
(1,452,325)


At 31 October 2024
156
1,954,913
146,764
4,004,514
6,106,347


The notes on pages 11 to 22 form part of these financial statements.

Page 8

 
STOCKBOURNE GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2022
156
1,925,067
309,344
6,846,452
9,081,019


Comprehensive income for the year

Loss for the year

-
-
-
(494,526)
(494,526)

Fair value adjustments
-
-
-
(29,846)
(29,846)

Fair value losses on swaps
-
-
(125,330)
-
(125,330)

Deferred tax arising on fair value losses
-
-
79,466
-
79,466


Other comprehensive income for the year
-
-
(45,864)
(29,846)
(75,710)


Total comprehensive income for the year
-
-
(45,864)
(524,372)
(570,236)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(1,200,000)
(1,200,000)

Net fair value movement on investment properties
-
29,846
-
-
29,846


Total transactions with owners
-
29,846
-
(1,200,000)
(1,170,154)


At 31 October 2023
156
1,954,913
263,480
5,122,080
7,340,629


The notes on pages 11 to 22 form part of these financial statements.

Page 9

 
STOCKBOURNE GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2023
156
26,987
27,143


Comprehensive income for the year

Profit for the year
-
1,456,294
1,456,294

Dividends: Equity capital
-
(1,452,325)
(1,452,325)


At 31 October 2024
156
30,956
31,112



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
156
14,943
15,099



Profit for the year
-
1,212,044
1,212,044

Dividends: Equity capital
-
(1,200,000)
(1,200,000)


At 31 October 2023
156
26,987
27,143


The notes on pages 11 to 22 form part of these financial statements.

Page 10

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Stockbourne Group Limited is a private company, limited by shares, and incorporated in England and Wales, registered number 04210084. The registered office address is: Suite 1, Silwood Business Centre, Silwood Park, Buckhurst Road, Ascot, Berkshire, SL5 7PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure is 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The financial statements are presented in sterling which is the functional currency of the entity and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
 .

 
2.4

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that the Group will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. In doing so the directors have considered the Group's business model and availability of cash resources. The directors consider it appropriate to prepare the financial statements on a going concern basis.

Page 11

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

  
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental income and ground rent is recognised over the period income is earned. 
Property sale revenue is recognised at completion date.
 

 
2.6

Operating leases: the Group as lessor

Rental income from operating leases is credited to the statement of comprehensive income on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.7

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight-line basis over the lease term.

 
2.8

Leased assets: the Group as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.9

Interest income

Interest income is recognised in the statement of comprehensive income using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

All borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.

Page 12

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.12

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 13

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.14
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in consolidated statement of comprehensive income.

 
2.15

Investment property

Investment property is carried at fair value determined annually by a director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.17

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is the historic price of aquiring each of the trading units. Net realisable value is based on the estimated selling price, less further costs to be incurred to completion and disposal.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

 
2.18

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.19

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 14

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.20

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.21

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6)


4.


Tangible fixed assets

Group and Company






Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
113,272
6,443
38,768
158,483



At 31 October 2024

113,272
6,443
38,768
158,483



Depreciation


At 1 November 2023
74,434
6,443
36,623
117,500


Charge for the year on owned assets
36,387
-
1,670
38,057


Charge for the year on financed assets
992
-
-
992



At 31 October 2024

111,813
6,443
38,293
156,549



Net book value



At 31 October 2024
1,459
-
475
1,934



At 31 October 2023
38,838
-
2,145
40,983

Page 15

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
1,104
37,491

Page 16

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
3,330,307



At 31 October 2024
3,330,307






Net book value



At 31 October 2024
3,330,307



At 31 October 2023
3,330,307


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Stockbourne Management (Winkfield) Limited
Ordinary
100%
Kewbrook Limited
Ordinary
100%
Stockbourne Management Limited
Ordinary
100%
Dencora Properties Limited
Ordinary
100%
Dencora Homes Limited
Ordinary
100%
Harvey & Leech Limited
Ordinary
100%
Roger Bros Limited
Ordinary
100%
Spaulding & Holmes Limited
Ordinary
100%
Knowle Hill Properties Ltd
Ordinary
100%
Dencora Limited *
Ordinary
100%
Stockbourne (WEM) Ltd
Ordinary
100%

* Indirect shareholding 
The registered office for all the subsidiary undertakings is Suite 1, Silwood Business Centre, Silwood Park, Buckhurst, Ascot , Berkshire, SL5 7PW.

Page 17

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Investment property

Group


Investment property

£



Valuation


At 1 November 2023
4,325,000



At 31 October 2024
4,325,000

The 2024 valuations were made by Mr M J Rickards FRICS, a director of the Company, on an open market value for existing use basis.





7.


Stocks

Group
Group
2024
2023
£
£

Commercial property for resale
11,785,761
14,763,820


As at the year end the market value of the property was £20,500,000. The 2024 valuations were made by M J Rickards FRICS, a director of the Group, on an open market value for existing use basis. The directors’ open market value would increase the shareholders’ funds to £15,842,508 (2023 - £15,296,809).
 

Page 18

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Other debtors
195,686
351,307
-
-


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due within one year

Trade debtors
232,521
216,735
-
-

Amounts owed by group undertakings
-
-
14,872,723
14,150,619

Other debtors
703,320
492,675
540,324
308,369

Prepayments and accrued income
319,036
218,047
6,640
5,971

1,254,877
927,457
15,419,687
14,464,959



9.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,893,811
2,022,579
321,786
177,527



10.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
36,103
131,927
3,159
109

Amounts owed to group undertakings
-
-
18,900,176
17,886,234

Corporation tax
162,724
7,937
56,951
7,937

Other taxation and social security
101,553
148,246
-
-

Obligations under finance lease and hire purchase contracts
57,251
11,005
57,251
11,005

Other creditors
454,277
446,070
100
100

Accruals and deferred income
136,546
314,583
24,965
23,998

948,454
1,059,768
19,042,602
17,929,383


Page 19

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
11,887,631
13,419,956
-
-

Net obligations under finance leases and hire purchase contracts
-
57,251
-
57,251

11,887,631
13,477,207
-
57,251


The bank loans are secured by a fixed and floating charge over the assets of the Group.


12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Within one year
11,005
11,005
11,005
11,005

Between 1-5 years
46,246
57,251
46,246
57,251

57,251
68,256
57,251
68,256

The hire purchase obligations are secured on the vehicle acquired by the finance.


13.


Financial instruments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
2,089,497
2,373,889
321,786
177,528




The Group has entered into an interest rate swap agreement, swapping the floating rates payable on loans amounting to £9,850,000 fixed interest rates ranging between 1.03% and 2.11%. 


Financial assets measured at fair value through through the statement of comprehensive income are bank balances.
Financial instruments measured at fair value through the statement of comprehensive income comprise an interest rate swaps.

Page 20

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

14.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
553,542
618,754


Charged to profit or loss
-
14,254


Charged to other comprehensive income
(38,905)
(79,466)



At end of year
514,637
553,542




The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Timing differences arising from fair value adjustments
87,827
87,827

Tax on potential gains on investment properties
426,810
465,715

514,637
553,542

The Company has no deferred tax liability at the year end (2023 - £Nil)


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



0 (2023 - 100) A Ordinary shares of £1.00 each
-
100
50 (2023 - 50) B Ordinary shares of £1.00 each
50
50
6 (2023 - 6) C Ordinary shares of £1.00 each
6
6
50 (2023 - ) A1 Ordinary shares of £1.00 each
50
-
50 (2023 - ) A2 Ordinary shares of £1.00 each
50
-

156

156

During the year, the 100 A Ordinary shares were designated as 50 A1 shares and 50 A2 shares.


Page 21

 
STOCKBOURNE GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

16.


Reserves

Revaluation reserve

The revaluation reserve is the amount from the revaluation of investment properties to fair value, which is offset by the estimated deferred tax charge on the gain on sale of the property.

Other reserves

Other reserves relate to the hedging reserve which represents movement in the fair value of the interest rate swap derivatives and associated deferred tax.

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends and all adjustments.


17.


Commitments under operating leases

At 31 October 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
4,556
4,556
4,556
4,556


18.


Transactions with directors

At the year end a director's loan account balance was £200,512 (2023 - £124,819). Loans made to the director in the year amounted to £90,000. The loan is repayable on demand and interest of 2.5% is charged on the outstanding balance, the interest charge for the year was £3,491 (2023 - £2,662).
At the year end a director's loan account balance was £199,889 (2023 - £106,839). Loans made to the director in the year amounted to £90,000. The loan is repayable on demand and interest of 2.5% is charged on the outstanding balance, the interest charge for the year was £3,181 (2023 - £2,348).


19.


Related party transactions

The Group has taken advantage of the exemption under FRS102 1A for disclosures between the company and 100% owned undertakings of the Stockbourne Group not to be disclosed.


Page 22