Company registration number 00209404 (England and Wales)
STAMFORD CORN EXCHANGE COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
STAMFORD CORN EXCHANGE COMPANY LIMITED
COMPANY INFORMATION
Directors
J E Clarke
S Dolby
C G Hillyer
A P Middleton
J M Read
A Seamer
J W Sismey
K Williamson
A M Lee
Secretary
Ms A Stringer
Company number
00209404
Registered office
Stamford Corn Exchange
Broad Street
Stamford
Lincolnshire
PE9 1PX
Accountants
Berry Accountants Ltd
Bowden House
36 Northampton Road
Market Harborough
Leicestershire
LE16 9HE
Solicitors
Chattertons
9 Broad Street
Stamford
Lincolnshire
UK
PE9 1PY
STAMFORD CORN EXCHANGE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
STAMFORD CORN EXCHANGE COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
70,000
70,000
Current assets
Debtors
5
3,000
3,000
Cash at bank and in hand
21,944
20,764
24,944
23,764
Creditors: amounts falling due within one year
6
(1,905)
(2,185)
Net current assets
23,039
21,579
Total assets less current liabilities
93,039
91,579
Provisions for liabilities
(12,600)
(12,600)
Net assets
80,439
78,979
Capital and reserves
Called up share capital
5,595
5,595
Revaluation reserve
8
51,818
51,818
Profit and loss reserves
9
23,026
21,566
Total equity
80,439
78,979

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
A M Lee
Director
Company registration number 00209404 (England and Wales)
STAMFORD CORN EXCHANGE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Stamford Corn Exchange Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stamford Corn Exchange, Broad Street, Stamford, Lincolnshire, PE9 1PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

STAMFORD CORN EXCHANGE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

STAMFORD CORN EXCHANGE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
10
11
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
70,000

The fair value of the investment property has been arrived at on an open market basis carried out at 19 June 2017 by Richardson Chartered Surveyors, who are not connected with the company.

In the opinion of the directors the market value of the investment property at 31 March 2025 was not materially different to the valuation on 19 June 2017.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
3,000
3,000
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
13
Other creditors
1,905
2,172
1,905
2,185
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Revaluations
12,600
12,600
There were no deferred tax movements in the year.
STAMFORD CORN EXCHANGE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
8
Revaluation reserve
2025
2024
£
£
At the beginning and end of the year
51,818
51,818
9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
21,566
19,565
Adjusted balance
21,566
19,565
Profit for the year
1,460
2,001
At the end of the year
23,026
21,566
10
Operating lease commitments

A director of Stamford Corn Exchange Company Limited is also a trustee of the Corn Exchange Theatre Company which is a registered charity.

On 9 May 2003 the company entered into a tenant repairing lease with the Com Exchange Theatre Company, a registered charity, letting to it the property known as the Corn Exchange, Broad Street, Stamford, Lincolnshire. This is the investment property owned by the company as shown in note 4.

The lease commenced on 8 January 2003 and is for an initial period of forty years. There is an option to renew the lease for a further period of forty years. The lease provided for an initial five year rent free period followed by an annual rental of £12,000 with five year reviews. Following the rent free period the board of directors decided that for the next five years they would waive rent of £11,999 per annum and charge a nominal rent of only £1 per annum. In December 2013 the board of directors agreed to extend the rent charge of £1 per annum for a further year to 8 January 2014. In December 2013 the directors also agreed that following this period the rent would remain at £12,000 per annum as shown in the lease but that £10,000 per annum would be waived for the next four years up to the date when the next rent review becomes due on 8 January 2018. In December 2017 the directors agreed that the rent be increased to £15,000 per annum from 8 January 2018 with £12,500 being excused for the first year. It was further agreed that the amount to be excused would be reviewed annually.

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