Company Registration No. 07237303 (England and Wales)
Stony Valley Limited
Unaudited accounts
for the year ended 31 March 2021
Stony Valley Limited
Unaudited accounts
Contents
Stony Valley Limited
Company Information
for the year ended 31 March 2021
Company Number
07237303 (England and Wales)
Registered Office
21/25 St Johns Hill
Clapham
London
SW7 1TT
Accountants
Monty Accounting Solutions
16 Smitham Bridge Road
Hungerford
Berkshire
RG17 0QP
Stony Valley Limited
Statement of financial position
as at
31 March 2021
Tangible assets
123,429
143,022
Inventories
14,837
14,837
Debtors
1,223,127
1,428,284
Cash at bank and in hand
1,565,265
2,709
Creditors: amounts falling due within one year
(1,676,028)
(1,113,399)
Net current assets
1,127,201
332,431
Total assets less current liabilities
1,250,630
475,453
Creditors: amounts falling due after more than one year
(1,480,000)
-
Net (liabilities)/assets
(229,370)
475,453
Called up share capital
100
100
Profit and loss account
(229,470)
475,353
Shareholders' funds
(229,370)
475,453
For the year ending 31 March 2021 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 director acknowledges his 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 and authorised for issue on 15 March 2022 and were signed on its behalf by
Howard Spooner
Director
Company Registration No. 07237303
Stony Valley Limited
Notes to the Accounts
for the year ended 31 March 2021
Stony Valley Limited is a private company, limited by shares, registered in England and Wales, registration number 07237303. The registered office is 21/25 St Johns Hill, Clapham, London, SW7 1TT.
2
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 accounts have been prepared under the historical cost convention
The company will meet its day to day working capital requirement through the support of its director. The director believes the company has adequate resources to operate for the foreseeable future thus the going concern basis of accounting is adopted in these financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.
Leased assets & hire purchase
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Stony Valley Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Charge for the year
34,154
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Fixtures & fittings
32,119
39,418
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
105,983
46,757
Amounts due from group undertakings etc.
895,646
755,938
Accrued income and prepayments
180,928
221,976
Other debtors
40,570
403,613
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
132,262
200,352
Obligations under finance leases and hire purchase contracts
48,308
5,922
Trade creditors
1,098,457
671,248
Taxes and social security
97,238
68,036
Other creditors
106,248
109,326
7
Creditors: amounts falling due after more than one year
2021
2020
Other creditors
1,430,000
-
Stony Valley Limited
Notes to the Accounts
for the year ended 31 March 2021
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan account
376,490
83,415
421,735
38,170
376,490
83,415
421,735
38,170
Included in other debtors is directors loan of £38,170 (2020 - £376,490). This loan was fully cleared in December 2020 by way of a loan write off. Subsequently, further advances were made to the director.
9
Transactions with related parties
Rent of £400,000 (2020 - £400,000) has been paid to Clapham and Fulham Properties Limited, the parent company.
At the year end £895,645 (2020 - £732,079) was owed to the Company by Clapham and Fulham Properties Limited. There is no formal agreement in place between the two companies.
At the year end £193,515 was due to Quay Street Limited (2020 - £93,515 ).
10
Average number of employees
During the year the average number of employees was 29 (2020: 38).