Standbetter Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02187430 (England and Wales)

STANDBETTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

P G Carter

Mrs A Carter

Miss N Carter

R S Carter

SECRETARY:

P G Carter

REGISTERED OFFICE:

47 Oxford Street

Weston-super-Mare

Somerset

BS23 1TN

REGISTERED NUMBER:

02187430 (England and Wales)

ACCOUNTANTS:

Poole Resources

Chartered Certified Accountants

95 High Street

Street

Somerset

BA16 0EZ

BANKERS:

Handelsbanken

1st Floor

43-44 Martingale Way

Portishead

Bristol

BS20 7AW

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Standbetter Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Standbetter Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Standbetter Limited and state those matters that we have agreed to state to the Board of Directors of Standbetter Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Standbetter 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 Standbetter Limited. You consider that Standbetter Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Standbetter Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Poole Resources

Chartered Certified Accountants

95 High Street

Street

Somerset

BA16 0EZ

26 September 2025

FIXED ASSETS

Tangible assets

4

26,951

37,995

Investment property

5

15,265,755

15,468,000

15,292,706

15,505,995

CURRENT ASSETS

Debtors

6

1,695,558

1,341,847

Cash at bank

1,094,123

440,137

2,789,681

1,781,984

CREDITORS

Amounts falling due within one year

7

172,468

275,855

NET CURRENT ASSETS

2,617,213

1,506,129

TOTAL ASSETS LESS CURRENT
LIABILITIES

17,909,919

17,012,124

CREDITORS

Amounts falling due after more than one
year

8

(8,200,000

)

(7,370,900

)

PROVISIONS FOR LIABILITIES

10

(1,185,076

)

(1,169,892

)

NET ASSETS

8,524,843

8,471,332

CAPITAL AND RESERVES

Called up share capital

11

1,006

Fair value reserve

12

4,827,691

4,749,274

Retained earnings

3,696,146

3,721,052

8,524,843

8,471,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

P G Carter - Director

Mrs A Carter - Director

1.	STATUTORY INFORMATION

Standbetter Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income received from investment property.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

Motor

Office

equipment

vehicles

equipment

Totals

£

COST

At 1 January 2024

20,147

61,044

5,616

86,807

Disposals

(6,625

)

(11,214

)

(779

)

(18,618

)

At 31 December 2024

13,522

49,830

4,837

68,189

DEPRECIATION

At 1 January 2024

16,284

30,346

2,182

48,812

Charge for year

591

7,642

1,334

9,567

Eliminated on disposal

(6,379

)

(10,027

)

(735

)

(17,141

)

At 31 December 2024

10,496

27,961

2,781

41,238

NET BOOK VALUE

At 31 December 2024

3,026

21,869

2,056

26,951

At 31 December 2023

3,863

30,698

3,434

37,995

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

15,468,000

Additions

161,755

Disposals

(595,000

)

Revaluations

231,000

At 31 December 2024

15,265,755

NET BOOK VALUE

At 31 December 2024

15,265,755

At 31 December 2023

15,468,000

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2018 and prior

3,409,922

Valuation in 2019

445,000

Valuation in 2020

-

Valuation in 2021

1,294,146

Valuation in 2022

-

Valuation in 2023

316,604

Valuation in 2024

231,000

Cost

9,569,083

15,265,755

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

9,569,083

9,880,322

All investment properties were valued on a fair value basis on 31 December 2024 by the Directors, P G and Mrs A Carter.

Previously, investment properties where mortgages are held were valued in 2024 by CSquared Real Estate LLP Partnership and in 2023 and 2020 by Cushman & Wakefield, Commercial Property and Real Estate Consultants as well as ETP, Property Consultants & Chartered Surveyors in 2019 to reflect their fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

7,732

16,599

Amounts owed by associates

1,453,392

1,289,435

Other debtors

65,000

-

Directors' loan accounts

130,865

-

Prepayments and accrued income

38,569

35,813

1,695,558

1,341,847

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

23,554

29,101

Social security and other taxes

64,327

23,095

Other creditors

5,000

Directors' loan accounts

-

67,301

Accruals and deferred income

79,587

151,358

172,468

275,855

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans - 1-5 years

-

6,718,900

Bank loans - 2-5 years

8,200,000

-

Bank loans more 5 yrs non-inst

-

652,000

8,200,000

7,370,900

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

652,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

8,200,000

7,370,900

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

1,185,076

1,169,892

Deferred

tax

£

Balance at 1 January 2024

1,169,892

Provided during year

15,184

Balance at 31 December 2024

1,185,076

In accordance with Financial Reporting Standard 102 1A deferred taxation has been provided on the revaluation of investment properties amounting to £1,178,266 (2023 £1,160,393).

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

1,000

Ordinary

£1

1,000

2

Ordinary A

£1

2

Ordinary B

£1

2

Ordinary C

£1

2

1,006

12.

RESERVES

Fair

value

reserve

£

At 1 January 2024

4,749,274

Fair value gains/(losses) - unrealised
revaluation during the year

231,000

Fair value gains realised upon property
disposals

(135,611

)

Movement in deferred tax provision

(16,972

)

At 31 December 2024

4,827,691

The fair value reserve above represents undistributable reserves in respect of investment property revaluations.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

P G Carter and Mrs A Carter

Balance outstanding at start of year

-

Amounts advanced

130,865

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

130,865

-

The above loan has since been repaid to the company.