| Stillshore Limited |
| Registered number: |
05449055 |
| Balance Sheet |
| as at 31 May 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
3,561,232 |
|
|
3,561,848 |
|
| Current assets |
| Debtors |
3 |
|
265,219 |
|
|
194,608 |
| Cash at bank and in hand |
|
|
5,370 |
|
|
18,367 |
|
|
|
270,589 |
|
|
212,975 |
|
| Creditors: amounts falling due within one year |
4 |
|
(218,230) |
|
|
(76,983) |
|
| Net current assets |
|
|
|
52,359 |
|
|
135,992 |
|
| Total assets less current liabilities |
|
|
|
3,613,591 |
|
|
3,697,840 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(2,085,993) |
|
|
(2,230,000) |
|
| Provisions for liabilities |
|
|
|
(50,193) |
|
|
(62,030) |
|
|
| Net assets |
|
|
|
1,477,405 |
|
|
1,405,810 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Revaluation reserve |
7 |
|
|
805,723 |
|
|
793,886 |
| Profit and loss account |
|
|
|
671,681 |
|
|
611,923 |
|
| Shareholder's funds |
|
|
|
1,477,405 |
|
|
1,405,810 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| M Safarzadeh |
| Director |
| Approved by the board on 10 October 2018 |
|
| Stillshore Limited |
| Notes to the Accounts |
| for the year ended 31 May 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investment properties |
|
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred tax on such gains or losses is recognised in accordance with the requirements of FRS 102.
The investment property fair values were determined by the director by reference to reports procured from an independent, qualified valuer who uses current market prices for comparable property, adjusted for any differences in nature, location and condition. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 4 years |
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost or valuation |
|
At 1 June 2017 |
3,560,000 |
|
41,061 |
|
3,601,061 |
|
At 31 May 2018 |
3,560,000 |
|
41,061 |
|
3,601,061 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2017 |
- |
|
39,213 |
|
39,213 |
|
Charge for the year |
- |
|
616 |
|
616 |
|
At 31 May 2018 |
- |
|
39,829 |
|
39,829 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2018 |
3,560,000 |
|
1,232 |
|
3,561,232 |
|
At 31 May 2017 |
3,560,000 |
|
1,848 |
|
3,561,848 |
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
3,169 |
|
2,270 |
|
Other debtors |
262,050 |
|
192,338 |
|
|
|
|
|
|
265,219 |
|
194,608 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
76,470 |
|
- |
|
Trade creditors |
22,458 |
|
15,589 |
|
Taxation and social security costs |
34,256 |
|
60,194 |
|
Other creditors |
85,046 |
|
1,200 |
|
|
|
|
|
|
218,230 |
|
76,983 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans |
2,085,993 |
|
2,230,000 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans |
2018 |
|
2017 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
2,162,463 |
|
2,230,000 |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Revaluation reserve |
2018 |
|
2017 |
| £ |
£ |
|
|
At 1 June 2017 |
793,886 |
|
771,967 |
|
Deferred taxation arising on the revaluation of land and buildings |
11,837 |
|
21,919 |
|
|
At 31 May 2018 |
805,723 |
|
793,886 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
At 31 May 2018 the company owed £82,596 to Redi-94 Limited. At 31 May 2018 Caspiana Limited owed the company £63,980.
Both Redi-94 Limited and Caspiana Limited are controlled by M Safarzadeh. |
|
|
| 9 |
Controlling party |
|
|
The company was under the control of M Safarzadeh throughout the year. |
|
|
| 10 |
Other information |
|
|
Stillshore Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Kings Barn |
|
34 Thame Road |
|
Warborough |
|
Oxfordshire |
|
OX10 7DA |
