T. Stace & Sons Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09164217 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

T. STACE & SONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T R Stace

N C Stace

T A Stace

REGISTERED OFFICE:

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

REGISTERED NUMBER:

09164217 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Investment property

4

3,191,034

3,191,034

CURRENT ASSETS

Debtors

5

15,960

33,507

Investments

6

123,343

100,003

Cash at bank

34,206

22,280

173,509

155,790

CREDITORS

Amounts falling due within one year

7

255,122

279,538

NET CURRENT LIABILITIES

(81,613

)

(123,748

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,109,421

3,067,286

CREDITORS

Amounts falling due after more than one year

8

(599,871

)

(651,604

)

PROVISIONS FOR LIABILITIES

10

(143,042

)

(148,307

)

NET ASSETS

2,366,508

2,267,375

CAPITAL AND RESERVES

Called up share capital

11

570

570

Non-distributable reserve

841,958

1,109,017

Retained earnings

1,523,980

1,157,788

SHAREHOLDERS' FUNDS

2,366,508

2,267,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 December 2019 and were signed on its behalf by:

T R Stace - Director

1.	STATUTORY INFORMATION

T. Stace & Sons Ltd 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 as modified by the revaluation of certain assets.

Turnover

Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated

customer rebates and other similar allowances.

Revenue represents the rental income received from the investment properties, excluding value added tax where

applicable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

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

Current asset investments

Current asset investments are stated at fair value.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

and 30 September 2019

3,191,034

NET BOOK VALUE

At 30 September 2019

3,191,034

At 30 September 2018

3,191,034

Investment properties were valued on an open market basis on 18th July 2017 by Porters Intrinsic Valuations.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,000

1,583

Other debtors

7,960

31,924

15,960

33,507

6.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Listed investments

123,343

100,003

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

53,480

54,801

Taxation and social security

26,397

24,525

Other creditors

175,245

200,212

255,122

279,538

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

599,871

651,604

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

300,092

414,918

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

653,351

706,405

10.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

143,042

148,307

Deferred

tax

£

Balance at 1 October 2018

148,307

Credit to Income Statement during year

(5,265

)

Balance at 30 September 2019

143,042

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

570

Ordinary

£1

570

570

12.	RELATED PARTY DISCLOSURES

Included in Creditors: amounts due within one year at the balance sheet date is an amount due to the directors

of £125,452 (2018: £153,361).