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REGISTERED NUMBER: 07695297 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Staines Trailers Ltd

Staines Trailers Ltd (Registered number: 07695297)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Staines Trailers Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Mr E J Staines





REGISTERED OFFICE: Huntshaw Barton Yard
Huntshaw
Torrington
Devon
EX38 7HH





REGISTERED NUMBER: 07695297 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Staines Trailers Ltd (Registered number: 07695297)

Abridged Balance Sheet
30 November 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 376,792 678,719
376,792 678,719

CURRENT ASSETS
Stocks 692,567 620,500
Debtors 134,904 590,116
Cash at bank 5,724 9,083
833,195 1,219,699
CREDITORS
Amounts falling due within one year 462,287 1,460,129
NET CURRENT ASSETS/(LIABILITIES) 370,908 (240,430 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

747,700

438,289

CREDITORS
Amounts falling due after more than one
year

(439,754

)

(144,880

)

PROVISIONS FOR LIABILITIES (59,148 ) (59,824 )
NET ASSETS 248,798 233,585

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 248,797 233,584
SHAREHOLDERS' FUNDS 248,798 233,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Staines Trailers Ltd (Registered number: 07695297)

Abridged Balance Sheet - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





Mr E J Staines - Director


Staines Trailers Ltd (Registered number: 07695297)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Staines Trailers Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 1 year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - nil on land
Improvements to property - 10% straight line
Plant and machinery - 20% in year one, 10% reducing balance
Fixtures and fittings - 20% straight line
Motor vehicles - 25% on reducing balance
Equipment, fixtures and fittings - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Staines Trailers Ltd (Registered number: 07695297)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Staines Trailers Ltd (Registered number: 07695297)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 22,678
AMORTISATION
At 1 December 2023
and 30 November 2024 22,678
NET BOOK VALUE

At 30 November 2024 -
At 30 November 2023 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023 1,115,035
Additions 5,795
Disposals (445,690 )
At 30 November 2024 675,140
DEPRECIATION
At 1 December 2023 436,316
Charge for year 54,783
Eliminated on disposal (192,751 )
At 30 November 2024 298,348
NET BOOK VALUE
At 30 November 2024 376,792
At 30 November 2023 678,719

Included in cost of land and buildings is freehold land of £ 91,805 (2023 - £ 86,010 ) which is not depreciated.


Staines Trailers Ltd (Registered number: 07695297)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


7. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 32,805 129,651
Between one and five years 10,935 120,709
43,740 250,360

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 24,083 34,169
Other loans 475,000 500,000
Hire purchase contracts 43,740 250,360
542,823 784,529

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

Secured other loans are secured by a fixed and floating charge on the property and assets of the company.

The hire purchase contracts and finance leases are secured over the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
1 Ordinary £1 1 1

10. CONTINGENT LIABILITIES

The company has provided guarantees for hire purchase and other borrowing obligations of related companies totalling £3,335,411 at the balance sheet date. Certain of these obligations are secured by a second charge over land and buildings held within stock of the company at the balance sheet date.