Company No: 03838974 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	6,536		8,715
		6,536		8,715
Current assets
Stocks	5	774,577		1,343,342
Debtors	6	1,165,850		645,712
Cash at bank and in hand		17,109		51,997
		1,957,536		2,041,051
Creditors: amounts falling due within one year	7	( 108,465)		( 351,877)
Net current assets		1,849,071		1,689,174
Total assets less current liabilities		1,855,607		1,697,889
Provision for liabilities		( 1,634)		( 2,179)
Net assets		1,853,973		1,695,710
Capital and reserves
Called-up share capital		2		2
Profit and loss account		1,853,971		1,695,708
Total shareholder's funds		1,853,973		1,695,710

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Staplegrove Contractors Limited (registered number: 03838974) were approved and authorised for issue by the Director on 31 July 2026. They were signed on its behalf by:

S R Smith Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Staplegrove Contractors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Quoits House, Duddlestone, Taunton, TA3 7BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover and profit on developments is recognised on the exchange of contracts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Fixtures and fittings	33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

The director has identified that revenue and costs were recognised in error in the prior period.

The comparatives have been restated to amend this and as a result, turnover has reduced from £751,437 to £133,937, and cost of sales have reduced from £714,973 to £147,473. Profit before tax and profit after tax have both reduced by £50,000 accordingly.

At 30 June 2024, stock has reduced from £1,812,372 to £1,343,342, and debtors have increased from £226,682 to £645,712. As a result, net assets have reduced by £50,000 from £1,745,708 to £1,695,708.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Total
	£		£		£
Cost
At 01 July 2024	67,859		4,359		72,218
At 30 June 2025	67,859		4,359		72,218
Accumulated depreciation
At 01 July 2024	59,144		4,359		63,503
Charge for the financial year	2,179		0		2,179
At 30 June 2025	61,323		4,359		65,682
Net book value
At 30 June 2025	6,536		0		6,536
At 30 June 2024	8,715		0		8,715

5. Stocks

	2025		2024
	£		£
Work in progress	774,577		1,343,342

6. Debtors

	2025		2024
	£		£
Other debtors	1,165,850		645,712

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,153		1,471
Amounts owed to director	0		265,105
Accruals	42,950		34,891
Taxation and social security	34,361		2,349
Other creditors	30,001		48,061
	108,465		351,877

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Lloyds Bank PLC holds fixed and floating charges over Garth Gardens and the land at the rear of the property.

The company has given a full title guarantee to Brian Gordon Martinez De Las Rivas for 22.5% of the net consideration received by the company on the sale of the land at Knights Broadway.

9. Contingencies

Contingent liabilities

The company is involved in a dispute concerning the interpretation and effect of certain contractual arrangements relating to a development project. The company disputes the claims advanced against it and continues to pursue legal remedies and advice in relation to the matter. The outcome remains uncertain. In the event that the dispute is ultimately determined adversely to the company, the potential financial exposure could be in the region of £600,000.

10. Related party transactions

At 1 July 2024, the balance owed by the director was £Nil (1 July 2023: £Nil). During the year, £505,882 (2024: £Nil) was advanced to the director and £13,636 (2024: £Nil) was repaid by the director. At 30 June 2025, the balance owed by the director was £492,246 (2024: £Nil). The advance was repaid in full by 8 August 2025.