Stonewater Properties Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12836653 (England and Wales)

STONEWATER PROPERTIES GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25 AUGUST 2020 TO 31 MAY 2021

Page

Balance Sheet

1

Notes to the Financial Statements

2

Chartered Certified Accountants' Report

5

FIXED ASSETS

Investments

4

450

CURRENT ASSETS

Debtors

5

1,962,450

Cash at bank

1,664,935

3,627,385

CREDITORS

Amounts falling due within one year

6

141,000

NET CURRENT ASSETS

3,486,385

TOTAL ASSETS LESS CURRENT LIABILITIES

3,486,835

CREDITORS

Amounts falling due after more than one year

7

2,950,778

NET ASSETS

536,057

CAPITAL AND RESERVES

Called up share capital

150

Retained earnings

535,907

536,057

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2022 and were signed on its behalf by:

M S Basra - Director

L Kallar - Director

1.	STATUTORY INFORMATION

Stonewater Properties Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

12836653

Registered office:

10 Station Road

Letchworth Garden City

United Kingdom

Hertfordshire

SG6 3AU

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.

Preparation of consolidated financial statements

The financial statements contain information about Stonewater Properties Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

450

At 31 May 2021

450

NET BOOK VALUE

At 31 May 2021

450

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed by group undertakings

1,962,450

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

70,000

Other creditors and accruals

71,000

141,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

2,950,778

8.	RELATED PARTY DISCLOSURES

Stonewater Capital Limited

Company shareholder.

Amount due to the related party at the balance sheet date £1,391,278.

No interest is payable on the loan and there are no agreed repayment terms.

KS Construction Barton Ltd

A company in which K Singh is a shareholder and a director.

Amount due to related party at the balance sheet date £300,000.

No interest is payable on the loan and there are no agreed repayment terms.

Stonewater Enterprises Ltd

A company in which K Singh is a shareholder and a director.

Amount due to related party at the balance sheet date £100,000.

No interest is payable on the loan and there are no agreed repayment terms.

Sterling Safety Services Ltd

A company in which M S Basra is a shareholder and a director.

Amount due to related party at the balance sheet date £100,000.

No interest is payable on the loan and there are no agreed repayment terms.

Kallarview Homes Ltd

Company shareholder

Amount due to the related party at the balance sheet date £529,750.

No interest is payable on the loan and there are no agreed repayment terms.

Oakmont Estates Ltd

Company shareholder

Amount due to the related party at the balance sheet date £529,750.

No interest is payable on the loan and there are no agreed repayment terms.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

The company is equally owned by Stonewater Capital Limited, Oakmont Estates Limited and Kallarview Homes Limited.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stonewater Properties Group Limited for the period ended 31 May 2021 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Stonewater Properties Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stonewater Properties Group Limited and state those matters that we have agreed to state to the Board of Directors of Stonewater Properties Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Stonewater Properties Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stonewater Properties Group Limited. You consider that Stonewater Properties Group Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Stonewater Properties Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

71 Knowl Piece

Wilbury Way

Hitchin

SG4 0TY

4 March 2022