Company registration number 10507308 (England and Wales)
STAVELY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STAVELY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
STAVELY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,055,862
966,275
Debtors
3
187,679
184,765
Cash at bank and in hand
1
1,183
1,243,542
1,152,223
Creditors: amounts falling due within one year
4
(1,329,506)
(1,263,455)
Net current liabilities
(85,964)
(111,232)
Creditors: amounts falling due after more than one year
5
(13,777)
(16,898)
Net liabilities
(99,741)
(128,130)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(99,841)
(128,230)
Total equity
(99,741)
(128,130)

For the financial year ended 31 December 2024 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 July 2026
Shane Desai
Director
Company registration number 10507308 (England and Wales)
STAVELY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
1
(144,291)
(144,290)
Year ended 31 December 2023:
Profit and total comprehensive income
-
16,061
16,061
Issue of share capital
99
-
99
Balance at 31 December 2023
100
(128,230)
(128,130)
Year ended 31 December 2024:
Profit and total comprehensive income
-
28,389
28,389
Balance at 31 December 2024
100
(99,841)
(99,741)
STAVELY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Stavely Limited is a private company limited by shares incorporated in England and Wales. The registered office is 68 Grafton Way, London, WIT 5DS.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

As at 31 December 202 true 4 the company had net liabilities of £99,741. Certain of the company's loan facilities, totalling £1,321,333, have expired and are therefore due for immediate repayment. The company's director believes that the loan facilities will be refinanced which will enable the company to continue as a going concern and he therefore considers it appropriate for the financial statements to be prepared on the going concern basis. The financial statements do not include any adjustments which might be required if the lenders were to demand immediate repayment of the expired loan balances.

1.3
Turnover

Turnover represents rent, ground rent and service charges receivable and sale of properties.

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership have passed to the buyer (usually on completion date), 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.

Property rent and other income are recognised by reference to the stage of completion of rental period, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing rent received, mainly in relation to contractual rent rolls, as a proportion of total rent period. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Stocks

Property stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the purchase cost of properties and, where applicable, direct costs that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
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.

STAVELY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

STAVELY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,164
1,172
Other debtors
182,515
183,593
187,679
184,765
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,019,932
1,009,567
Other creditors
309,574
253,888
1,329,506
1,263,455

Included in bank loans amounts totalling £1,016,812 which are secured by a debenture (fixed charge and floating) over all of the company's assets including a first ranking legal charge over the company's property stocks, a charge over the company's shares, a corporate guarantee from a company under common control, and a personal guarantee limited to £399,686 from the company's sole director and shareholder.

Included in other creditors are non-bank loans totalling £304,521 which are secured by a third ranking legal charge over the company's property stocks.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,777
16,898
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

STAVELY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Related party transactions
(Continued)
- 6 -

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
182,515
183,593
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