Accounts filed on 30-11-2018

Accounts filed on 30-11-2018

STAITE ENTERPRISES LIMITED - Company Information

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Registered number: 05283257
Staite Enterprises Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2018
Prepared By:
Taylor & Taylor Accountants Limited
Chartered Accountants
175 Cole Valley Road
Birmingham
West Midlands
B28 0DG
Staite Enterprises Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2018
DIRECTORS
J.Staite
REGISTERED OFFICE
Taylor & Taylor Accountants
175 Cole Valley Road
Birmingham
B28 0DG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05283257
ACCOUNTANTS
Taylor & Taylor Accountants Limited
Chartered Accountants
175 Cole Valley Road
Birmingham
West Midlands
B28 0DG
Staite Enterprises Limited
ACCOUNTS
FOR THEYEARENDED30/11/2018
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Staite Enterprises Limited
BALANCE SHEET AT 30/11/2018
20182017
Notes££
FIXED ASSETS
Tangible assets21,440,7391,447,145
CURRENT ASSETS
Debtors4452,902440,752
Cash at bank and in hand7,3229,130
460,224449,882
CREDITORS: Amounts falling due within one year535,57733,847
NET CURRENT ASSETS424,647416,035
TOTAL ASSETS LESS CURRENT LIABILITIES1,865,3861,863,180
CREDITORS: Amounts falling due after more than one year698,079120,889
PROVISIONS FOR LIABILITIES AND CHARGES871,6931,415
NET ASSETS1,695,6141,740,876
CAPITAL AND RESERVES
Called up share capital93,5003,500
Share premium account10754,961754,961
Profit and loss account937,153982,415
SHAREHOLDERS' FUNDS1,695,6141,740,876
For the year ending 30/11/2018 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 04/04/2019 and signed on their behalf by
.............................
J.Staite
Director
Staite Enterprises Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2018
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 25%
Equipmentreducing balance 25%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
2. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 01/12/20171,420,54537,1641,457,709
Additions-325325
At 30/11/20181,420,54537,4891,458,034
Depreciation
At 01/12/2017-10,56410,564
For the year-6,7316,731
At 30/11/2018-17,29517,295
Net Book Amounts
At 30/11/20181,420,54520,1941,440,739
At 30/11/20171,420,54526,6001,447,145
Staite Enterprises Limited
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/12/20171,420,5451,420,545
At 30/11/20181,420,5451,420,545
The 2018 valuations were confirmed by the director using her knowledge of market prices to estimate the value of these properties
4. DEBTORS 20182017
££
Amounts falling due within one year:
Other debtors452,902440,752
452,902440,752
Other debtors includes a loan to Bhusal Films, an unconnected party, there is no fixed repayment date or interest terms.
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20182017
££
Bank loans and overdrafts26,06425,826
Taxation and social security6,9805,364
Other creditors2,5332,657
35,57733,847
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20182017
££
Bank loans and overdrafts98,079120,889
98,079120,889
Staite Enterprises Limited
7. EMPLOYEES
20182017
No.No.
Average number of employees22
8. PROVISIONS FOR LIABILITIES 20182017
££
Deferred taxation71,6931,415
71,6931,415
9. SHARE CAPITAL 20182017
££
Allotted, issued and fully paid:
3500 Ordinary shares of £1 each35003500
3,5003,500
10. SHARE PREMIUM ACCOUNT 20182017
££
Share premium account754,961754,961