Stagers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01577069 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2022

for

STAGERS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Director:

J H Dade

Secretary:

N A Dade

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

01577069 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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 Stagers Limited for the year ended 31 January 2022 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stagers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stagers Limited and state those matters that we have agreed to state to the director of Stagers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stagers Limited and its director for our work or for this report.

It is your duty to ensure that Stagers 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 Stagers Limited. You consider that Stagers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stagers 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.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

27 June 2022

Fixed assets

Tangible assets

4

-

-

Investment property

5

1,500,000

1,150,000

1,500,000

1,150,000

Current assets

Stocks

16,975

7,725

Debtors

6

3,886

5,246

Cash at bank

52,578

58,218

73,439

71,189

Creditors

Amounts falling due within one year

7

55,016

53,030

Net current assets

18,423

18,159

Total assets less current liabilities

1,518,423

1,168,159

Provisions for liabilities

85,000

85,000

Net assets

1,433,423

1,083,159

Capital and reserves

Called up share capital

8

40,000

40,000

Revaluation reserve

9

1,194,324

844,324

Retained earnings

9

199,099

198,835

Shareholders' funds

1,433,423

1,083,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 June 2022 and were signed by:

J H Dade - Director

1.	Statutory information

Stagers Limited 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

3.	Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 February 2021

and 31 January 2022

63,965

3,146

23,713

1,116

91,940

Depreciation

At 1 February 2021

and 31 January 2022

63,965

3,146

23,713

1,116

91,940

Net book value

At 31 January 2022

-

-

-

-

-

At 31 January 2021

-

-

-

-

-

5.	Investment property

Total

£

Fair value

At 1 February 2021

1,150,000

Revaluations

350,000

At 31 January 2022

1,500,000

Net book value

At 31 January 2022

1,500,000

At 31 January 2021

1,150,000

If the investment property had not been revalued, it would have been included at its historical cost of £226,450.

The investment properties were revalued on 31 January 2022 by the Director on an open market basis.

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

-

1,870

Other debtors

3,886

3,376

3,886

5,246

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

7,880

7,131

Taxation and social security

2,296

2,547

Other creditors

44,840

43,352

55,016

53,030

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

40,000

Ordinary shares

£1

40,000

40,000

9.

Reserves

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 February 2021

198,835

844,324

1,043,159

Profit for the year

264

264

Revaluation in period

-

350,000

350,000

At 31 January 2022

199,099

1,194,324

1,393,423

10.	Related party disclosures

At the year end date, the company owed the director £26,499 (2021: £25,030) in relation to expenses paid personally. This loan is interest free and repayable on demand.