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REGISTERED NUMBER:
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STILLMEN LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2018 |
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REGISTERED NUMBER:
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STILLMEN LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2018 |
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STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Certified Accountants' Report | 6 |
STILLMEN LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Tax Advisers and |
Chartered Certified Accountants |
Broad House |
1 The Broadway |
Old Hatfield |
Herts |
AL9 5BG |
STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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ABRIDGED BALANCE SHEET |
30TH APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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1. | STATUTORY INFORMATION |
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Stillmen Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Fixed asset investments |
Fixed asset investments are stated at cost less any amounts written off. |
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Turnover |
Turnover represents amounts receivable in respect of services provided during the year. |
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3. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1st May 2017 | 703,768 |
Repayments | (100 | ) |
At 30th April 2018 | 703,668 |
NET BOOK VALUE |
At 30th April 2018 | 703,668 |
At 30th April 2017 | 703,768 |
STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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3. | FIXED ASSET INVESTMENTS - continued |
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Other investments not loans (note 3) comprise the following: |
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a) A 7.26% (2017- 7.26%) interest in the issued ordinary share capital of Riverside Resorts and Holiday |
Homes Private Limited (a related company), a company Incorporated in India. The total investment of |
£700,000 in this company comprises 5,459,073 (2017- 5,459,073) equity shares of Rs 10 each. |
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b) A 1% (2017- 1%) interest in the issued ordinary share capital of 2 BVI companies. The total investment in |
these companies was £4. There were no shareholders loans. |
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c) A 10% (2017- 10%) interest in the issued ordinary share capital of Wickham Road Development Ltd (a |
related company) . The related company has been dissolved during the year and therefore a disposal of |
£100 is being recognised in these accounts. |
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d) A 23.7% (2017- 23.7%) interest in the issued ordinary share capital of Berrypink Ltd (an associated |
company). The total investment in this company was £2,370 comprising 2,370 ordinary shares of £1 |
each. There was a loan of £288,372 from prior periods which was still outstanding at the year end. The |
loan is shown as part of current assets. |
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e) A 30.30% (2017- 30.30%) interest in the issued ordinary share capital of Coolpass Ltd (an associated |
company). The total investment in this company was £10 comprising 10 ordinary shares of £1 |
each. |
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f) A 0.04% (2017- 0.04%) interest in the issued ordinary share capital of Acrobelt Ltd (an associated |
company). The total investment in Acrobelt Ltd was £8 comprising of 8 ordinary shares.The company |
owned 0.04% shares directly (8 ordinary shares) and 30.30% shares through Coolpass Ltd, making it an |
overall investment of 30.34%. |
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g) A 45% (2017- 45%) interest in the issued ordinary share capital of Landloan Ltd (an associated |
company). The total investment in this company was £45 comprising 45 ordinary shares of £1 |
each. There was a loan of £314,145 due by the related party from prior periods. |
STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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4. | RELATED PARTY DISCLOSURES |
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Landloan Ltd |
An associated company |
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At the year end the associated company has a loan of £314,145 (2017- £314,145) due back to the reporting entity.The loan is |
classed as a current asset. There were no terms agreed for the loan. |
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Prime UK Properties Ltd |
A Shah is the director and holds 33.33% shares in this company |
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A loan of £250,000 has now been repaid by Prime Uk Properties Ltd during the year. At the balance sheet date, the balance |
of the loan was £nil (2017 - £250,000). |
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Wickham Road Development Ltd |
A Shah is a director in the related company |
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During the year, the company received a dividend of £nil (2017- £6,440). |
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As disclosed within note 3c of these accounts, the investment in the related company has been fully written off. |
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Berrypink Ltd |
An associated company |
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The reporting entity had provided an interest free loan to the associated company. The outstanding balance at the year end |
was £288,372.10 (2017- £288,372.10 which is shown as part of current assets. |
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Trooper Ltd |
A Shah is the director |
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The current assets include a loan in the sum of £300,000 (2017- £300,000) due from Trooper Ltd. The related company |
transferred this loan in the last year to Halamar (Birchlands) Ltd (a related company where A Shah is a director), which is |
now under administration. There is a probability that the aforementioned loan may not be fully recoverable. No provision has |
been made in these accounts for a potential write off. |
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The loan has no fixed date for repayment and is interest free. |
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5. | POST BALANCE SHEET EVENTS |
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As explained within note 5 to these accounts, a related party loan of £300,000 may not be fully recoverable. |
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6. | ULTIMATE CONTROLLING PARTY |
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The controlling party is A M Shah. |
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He owns over 50% of the issued ordinary share capital. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
STILLMEN LIMITED |
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The following reproduces the text of the report prepared for the directors 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 Abridged Income Statement and certain other primary statements and the Report of the |
Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Stillmen Limited for the year ended 30th April 2018 which comprise the Abridged Income Statement, Abridged |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given |
us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Stillmen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stillmen Limited and state those matters that we have agreed to state to the Board of Directors of Stillmen Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Stillmen 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 loss of Stillmen Limited. You consider that Stillmen Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Stillmen 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. |
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Chartered Tax Advisers and |
Chartered Certified Accountants |
Broad House |
1 The Broadway |
Old Hatfield |
Herts |
AL9 5BG |
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