ACCOUNTS - Final Accounts

STOCKBOURNE MANAGEMENT LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-3155true2020-11-01falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02503465 2020-11-01 2021-10-31 02503465 2019-11-01 2020-10-31 02503465 2021-10-31 02503465 2020-10-31 02503465 c:Director1 2020-11-01 2021-10-31 02503465 d:CurrentFinancialInstruments 2021-10-31 02503465 d:CurrentFinancialInstruments 2020-10-31 02503465 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 02503465 d:CurrentFinancialInstruments d:WithinOneYear 2020-10-31 02503465 d:ShareCapital 2021-10-31 02503465 d:ShareCapital 2020-10-31 02503465 d:RetainedEarningsAccumulatedLosses 2020-11-01 2021-10-31 02503465 d:RetainedEarningsAccumulatedLosses 2021-10-31 02503465 d:RetainedEarningsAccumulatedLosses 2020-10-31 02503465 c:OrdinaryShareClass1 2020-11-01 2021-10-31 02503465 c:OrdinaryShareClass1 2021-10-31 02503465 c:OrdinaryShareClass1 2020-10-31 02503465 c:FRS102 2020-11-01 2021-10-31 02503465 c:AuditExempt-NoAccountantsReport 2020-11-01 2021-10-31 02503465 c:FullAccounts 2020-11-01 2021-10-31 02503465 c:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 02503465 2 2020-11-01 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02503465

STOCKBOURNE MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2021

STOCKBOURNE MANAGEMENT LIMITED

REGISTERED NUMBER: 02503465

BALANCE SHEET

AS AT 31 OCTOBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	1,587,576		1,257,529
Cash at bank and in hand		87,421		125,381
		1,674,997		1,382,910
Creditors: amounts falling due within one year	5	(1,753,169)		(1,508,270)
Net current liabilities			(78,172)		(125,360)
Total assets less current liabilities			(78,172)		(125,360)

Net liabilities			(78,172)		(125,360)

Capital and reserves
Called up share capital	6	2	2
Profit and loss account	7	(78,174)	(125,362)
		(78,172)	(125,360)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M J Rickards FRICS

Director

Date: 26 July 2022

The notes on pages 2 to 5 form part of these financial statements.

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STOCKBOURNE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

1.	General information

Stockbourne Management Limited is a private company, limited by shares, and incorporated in England and Wales, registered number 02503465. The registered office is: Suite 1, Silwood Business Centre, Silwood Park, Buckhurst Road, Ascot, Berkshire, SL5 7PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
These financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Management fee income is recognised over the period of time the services are contracted for.

2.4

Going concern

The financial statements have been prepared on a going concern basis because the company continues to meet its obligations as and when they arise and the amounts owed to Group companies will not be called upon to the detriment of the company continuing to be a going concern.
The financial statements have been prepared on a going concern basis as the directors believe that the Company will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements.
In assessing the appropriateness of the going concern basis of preparation the directors have taken into account the key uncertainty surrounding the COVID-19 pandemic. In doing so the directors have considered the Company's business model and availability of cash resources. The directors consider it appropriate therefore to prepare the financial statements on a going concern basis.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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STOCKBOURNE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

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STOCKBOURNE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 5 (2020 - 5).

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	1,587,350	1,257,275
Other debtors	226	254
	1,587,576	1,257,529

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	60	-
Amounts owed to group undertakings	1,730,902	1,487,776
Corporation tax	11,112	9,935
Other taxation and social security	9,848	9,205
Other creditors	1,247	1,354
	1,753,169	1,508,270

Page 4

STOCKBOURNE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

6.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

2 (2020 - 2) Ordinary shares of £1.00 each	2	2

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends and other adjustments.

8.	Related party transactions
	The company has taken the exemption under FRS102 1A not to disclose transactions and balances with its parent and fellow subsidiary companies on the basis it is a wholly owned subsidiary.

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