Stonewood Partnerships (RGI) Sandford Limited - Period Ending 2022-09-30
Stonewood Partnerships (RGI) Sandford Limited - Period Ending 2022-09-30
Registration number:
Prepared for the registrar
for the
Period from 16 December 2021 to 30 September 2022
Stonewood Partnerships (RGI) Sandford Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Stonewood Partnerships (RGI) Sandford Limited
Company Information
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Directors |
B Lang A Marks |
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Registered office |
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Auditors |
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Stonewood Partnerships (RGI) Sandford Limited
(Registration number: 13804716)
Balance Sheet as at 30 September 2022
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Note |
2022 |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
1 |
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Profit and loss account |
(1,825) |
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Shareholders' deficit |
(1,824) |
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 Profit and Loss Account has been taken.
Approved and authorised by the
Director
Stonewood Partnerships (RGI) Sandford Limited
Notes to the Financial Statements for the Period from 16 December 2021 to 30 September 2022
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Name of parent of group
The parent of the smallest group preparing consolidated financial statements which include this company is Stonewood Builders Holdings Limited. The registered office of Stonewood Builders Holdings Limited is The Stonewood Office, West Yatton Lane, Castle Combe, Chippenham, SN14 7EY.
Going concern
On the basis of the company's and the enlarged group's financial projections, and having received a letter of support from the company's parent company, Stonewood Builders Holdings Limited, confirming their intention to continue to support the company for a period of not less than 12 months following the date of approval of these financial statements, the directors consider it appropriate to prepare the financial statements on a going concern basis. The projections assume that facilities in place at the date of approval of the accounts will continue on no less favourable terms than current arrangements. The financial statements do not include any adjustments that would result from insufficient facilities being made available to the company.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Stonewood Partnerships (RGI) Sandford Limited
Notes to the Financial Statements for the Period from 16 December 2021 to 30 September 2022
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Stonewood Partnerships (RGI) Sandford Limited
Notes to the Financial Statements for the Period from 16 December 2021 to 30 September 2022
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non-financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
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Staff numbers |
The company had no employees other than directors.
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Debtors |
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30 September 2022 |
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Other debtors |
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Creditors |
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30 September 2022 |
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Due within one year |
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Amounts due to related parties |
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Accrued expenses |
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Amounts owed to related parties are interest free and repayable on demand.
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Related party transactions |
Stonewood Partnerships Limited
(a company under common control)
During the year the company was advanced a loan of £36,419 (2021 - £NIL) from Stonewood Partnerships Limited. No interest has been charged on this loan and no repayments have been made during the current year. At the balance sheet date, the amount owed to Stonewood Partnerships Limited in respect of this loan was £36,419 (2
Stonewood Partnerships (RGI) Sandford Limited
Notes to the Financial Statements for the Period from 16 December 2021 to 30 September 2022
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Audit report |