REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Stanbridge Associates Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Stanbridge Associates Ltd. |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Operating and Financial Review | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Stanbridge Associates Ltd. |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
7 Lindum Terrace |
Lincoln |
Lincolnshire |
LN2 5RP |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Operating and Financial Review |
for the Year Ended 31 March 2023 |
A director retired during the year and his shares were bought out, thus there has been a reduction to the balance sheet reserves. The opportunity was taken to review trading balances and recoverable trade receivables were quantified with bad debt being written off. |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Balance Sheet - continued |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Stanbridge Associates Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised to the extent it is probable that economic benefits accrue to the company. Turnover is measured as the fair value of consideration received or receivable net of value added tax. |
Contracts are recognised in the period in which those services are provided and can be reliably measured and with a reasonable expectation of recovery. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investments in associates |
Investments in unlisted shares are valued at historic cost. |
Investment property |
Investment property is valued at an amount considered by the directors to be fair market value given the location and condition of each property. The increase on historic cost is considered to be reasonable given a range of sale values of similar properties in the locations.No depreciation is provided as repairs are included as they occur to retain the standard of the properties. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the yearr 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company offers a defined contribution plan for employees under which payments are made to a separate entity. The assets of the plan are held separately in independently administered funds. |
The company has no obligation to make further payments other than as agreed with the employees as part of their contractual arrangements. Once payment is made no further obligation arises and these are recognised as an expense when they fall due. Amounts not paid by the year end are included as accruals in the balance sheet. |
The company also operates a workplace pension scheme. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | FIXED ASSET INVESTMENTS |
The company invested in ASI, a start-up company in the medical sector. The shareholding is valued at cost. Post the balance sheet date, half of this investment was sold at cost to the retiring director and shareholder R Stanbridge. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Disposals | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Stanbridge Associates Ltd. (Registered number: 01401387) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors | ( |
) |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors | ( |
) |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2022 |
and 31 March 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs V Sanders. |
The ultimate controlling party is |