STONEY WARE ESTATE LIMITED

STONEY WARE ESTATE LIMITED

STONEY WARE ESTATE LIMITED - Company Information

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STONEY WARE ESTATE LIMITED

Company Registration Number:
03856616 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

STONEY WARE ESTATE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

STONEY WARE ESTATE LIMITED

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Current assets
Debtors:   198,386 291,324
Cash at bank and in hand: 134,120 350,791
Total current assets: 332,506 642,115
Creditors: amounts falling due within one year: 3 (321,599) (631,259)
Net current assets (liabilities): 10,907 10,856
Total assets less current liabilities: 10,907 10,856
Total net assets (liabilities): 10,907 10,856
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 10,905 10,854
Shareholders funds: 10,907 10,856

The notes form part of these financial statements

STONEY WARE ESTATE LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 December 2020
and signed on behalf of the board by:

Name: Kim Roberts
Status: Director

The notes form part of these financial statements

STONEY WARE ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Other accounting policies

TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in thereporting period. Tax is recognised in the statement of comprehensive income, except to the extent thatit relates to items recognised in other comprehensive income or directly in capital and reserves. In thiscase, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will berecovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax ismeasured using the tax rates and laws that have been enacted or substantively enacted by thereporting date that are expected to apply to the reversal of the timing difference.

STONEY WARE ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 19 18

STONEY WARE ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Creditors: amounts falling due within one year note

Creditors: amounts falling due within one yearBank loans and overdrafts £114,411 (2018 - £107,122)Corporation tax £12 (2018 -)Other creditors £207,176 (2018 - £524,137)Totals £321,599 (2018 - £631,259)

STONEY WARE ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Related party transactions

Name of the related party: Yaser Naghi, Mohammed Naghi and members of close family
Relationship:
Shareholders
Description of the Transaction: The whole of the issued share capital of the company is held by or for Mr Yaser Naghi, Mr Mohammed Naghi and members of their close family who are tenants of the Stoney Ware Estate and areconsidered to be related parties and Controller. The whole of the company's turnover is derived from the provision of services to the related parties. Office facilities in an estate property have also been provided without charge to the company.
£
Balance at 01 January 2019 231,853
Balance at 31 December 2019 7,830