Company Registration No. 10387199 (England and Wales)
St Ives Developments Limited
Unaudited accounts
for the year ended 31 August 2025
St Ives Developments Limited
Unaudited accounts
Contents
St Ives Developments Limited
Company Information
for the year ended 31 August 2025
Directors
C A Sharp
S J Wilson
Company Number
10387199 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
United Kingdom
St Ives Developments Limited
Statement of financial position
as at 31 August 2025
Inventories
956,129
851,672
Cash at bank and in hand
12,331
4,095
Creditors: amounts falling due within one year
(327,478)
(279,865)
Net current assets
641,180
578,238
Total assets less current liabilities
641,180
578,238
Creditors: amounts falling due after more than one year
(618,750)
(624,584)
Net assets/(liabilities)
22,430
(46,346)
Called up share capital
150
150
Capital redemption reserve
50
50
Profit and loss account
22,230
(46,546)
Shareholders' funds
22,430
(46,346)
For the year ending 31 August 2025 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 directors acknowledge their 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 of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by
C A Sharp
Director
Company Registration No. 10387199
St Ives Developments Limited
Notes to the Accounts
for the year ended 31 August 2025
St Ives Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10387199. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, United Kingdom.
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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 financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Inventories have been valued at the lower of cost and net realisable value. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
St Ives Developments Limited
Notes to the Accounts
for the year ended 31 August 2025
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in the income statement. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the income statement, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in the income statement immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. it also requires management to exercise judgement in applying the Company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the Company's inventories. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
The directors do not consider there are any key sources of estimation uncertainty.
Amounts falling due within one year
St Ives Developments Limited
Notes to the Accounts
for the year ended 31 August 2025
5
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
6,661
10,000
Trade creditors
6,461
4,817
Taxes and social security
5,726
5,313
Other creditors
308,630
259,735
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Creditors: amounts falling due after more than one year
2025
2024
Bank loans
618,750
624,584
At the year end the Company held a Bounce Back Loan totalling £6,661 (2024: £15,834) with Lloyds Bank Plc. The loan bears interest at 2.5% pa and is not secured. The loan is repayable in monthly instalments with the final repayment due 6 years after the first drawdown.
The long term loan relates to an interest only mortgage held with Monmouthshire Building Society which has a fixed and floating charge held against the assets of the company.
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Average number of employees
During the year the average number of employees was 2 (2024: 2).