Stoneygate Living Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12746712 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

STONEYGATE LIVING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Y A Bux

P L Waring

REGISTERED OFFICE:

Barton Hall

Garstang Road

Broughton

Preston

Lancashire

PR3 5BT

REGISTERED NUMBER:

12746712 (England and Wales)

ACCOUNTANTS:

James Todd & Co

Greenbank House

141 Adelphi Street

Preston

Lancashire

PR1 7BH

CURRENT ASSETS

Stocks

2,304,804

2,091,903

Debtors

4

16,126

2,939

Cash at bank and in hand

303

1

2,321,233

2,094,843

CREDITORS

Amounts falling due within one year

5

2,334,375

2,094,842

NET CURRENT (LIABILITIES)/ASSETS

(13,142

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,142

)

1

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(13,143

)

-

(13,142

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2022 and were signed on its behalf by:

Y A Bux - Director

1.	STATUTORY INFORMATION

Stoneygate Living Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks and work-in-progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. Work-in-progress in relation to a construction project, is valued at costs incurred to date plus recognised profits less recognised losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include stocks, debtors, and bank balances, are initially measured at transaction price and are subsequently carried at cost. Basic financial liabilities, which include creditors, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

24

-

Other debtors

9,587

2,939

Prepayments

6,515

-

16,126

2,939

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

7,875

1,861,200

Amounts owed to group undertakings

2,326,500

233,642

2,334,375

2,094,842

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

8.	GOING CONCERN

The company was insolvent at the year end. However, the accounts have been prepared on a going concern basis due to the ongoing support of the company's bankers, and the shareholders of the company, who are its principal creditors.