Company Registration No. 09223403 (England and Wales)
STONE HILL PARK LIMITED
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2015
Evolution Business and Tax Advisors LLP
Wynyard Park House
Wynyard Avenue
Wynyard
TS22 5TB
STONE HILL PARK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
STONE HILL PARK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
Notes
£
£
Current assets
Stocks
7,375,855
Debtors
56,546
Cash at bank and in hand
500
7,432,901
Creditors: amounts falling due within one year
2
(2,598,085)
Total assets less current liabilities
4,834,816
Creditors: amounts falling due after more than one year
3
(5,000,000)
Provisions for liabilities
(500,000)
(665,184)
Capital and reserves
Called up share capital
4
100
Profit and loss account
(665,284)
Shareholders' funds
(665,184)
For the financial period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 December 2015
Mr J C Musgrave
Director
Company Registration No. 09223403
STONE HILL PARK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company meets its day to day working capital requirements through loans provided by connected shareholder companies. On this basis, the company is heavily reliant on the continued support of these companies who have agreed to support the business for the foreseeable future.
On this basis, the directors consider it appropriate to prepare financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Stock and work in progress
Work in progress which consists of development land held for resale is valued at the lower of cost and net realisable value.
2
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £2,000,000.
3
Creditors: amounts falling due after more than one year
2015
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
5,000,000
The aggregate amount of creditors for which security has been given amounted to £3,000,000.
STONE HILL PARK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2015
- 3 -
4
Share capital
2015
£
Allotted, called up and fully paid
80 A ordinary of £1 each
80
20 B ordinary of £1 each
20
100
On incorporation, 80 A
ordinary shares of £
1
each
and 20 B ordinary shares of £1 each
were allotted and fully paid at par for cash consideration.
5
Control
The company's immediate and ultimate parent company is Invicta Asset Management Limited.