W W Stansby & Sons Limited - Period Ending 2019-01-31

Registration number: 00481872

W W Stansby & Sons Limited

Financial Statements

for the Year Ended 31 January 2019

Beever and Struthers
Chartered Accountants
St George's House
215-219 Chester Road
Manchester
Lancashire
M15 4JE

W W Stansby & Sons Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 5

W W Stansby & Sons Limited

(Registration number: 00481872)
Statement of Financial Position as at 31 January 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	32,508	30,453
Investment properties	5	8,925,000	8,925,000
		8,957,508	8,955,453
Current assets
Debtors	6	40,153	63,845
Cash at bank and in hand		190,587	216,432
		230,740	280,277
Creditors: Amounts falling due within one year	7	(164,769)	(175,204)
Net current assets		65,971	105,073
Total assets less current liabilities		9,023,479	9,060,526
Provisions for liabilities		(826,232)	(826,811)
Net assets		8,197,247	8,233,715
Capital and reserves
Called up share capital		3,000	3,000
Fair value reserve		7,785,543	7,785,543
Profit and loss account		408,704	445,172
Shareholders funds		8,197,247	8,233,715

For the financial year ending 31 January 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

W W Stansby & Sons Limited

(Registration number: 00481872)
Statement of Financial Position as at 31 January 2019

Approved and authorised by the Board on 18 July 2019 and signed on its behalf by:
 

.........................................

P K Stansby
Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

W W Stansby & Sons Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
36 Leigh Road
Hale
Altrincham
Cheshire
WA15 9BD
United Kingdom

These financial statements were authorised for issue by the Board on 18 July 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

The company recognises revenue when the amount of revenue can be reliably measured and economic benefit shown. Rental income received which relates to periods after the balance sheet date are included in deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is also provided on the revaluation of investment properties to their fair value.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

W W Stansby & Sons Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	10% reducing balance

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable property.
Changes in fair value are recognised in the income statement.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2018	111,796	111,796
At 31 January 2019	111,796	111,796
Depreciation
At 1 February 2018	81,343	81,343
Charge for the year	(2,055)	(2,055)
At 31 January 2019	79,288	79,288
Carrying amount
At 31 January 2019	32,508	32,508
At 31 January 2018	30,453	30,453

5	Investment properties

	£
At 1 February 2018	8,925,000

The investment properties were valued in November 2016 by external professional valuers.

Page 4

W W Stansby & Sons Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

6

Debtors

	2019 £	2018 £
Other debtors	40,153	63,845

7

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Taxation and social security	1,156	1,007
Accruals	118,606	79,488
Corporation tax	45,007	94,709
	164,769	175,204

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
A Ordinary of £1 each	1,500	1,500	1,500	1,500
B Ordinary of £1 each	1,500	1,500	1,500	1,500
	3,000	3,000	3,000	3,000

Page 5