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 2021 |
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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 2021 |
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STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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BALANCE SHEET |
30TH APRIL 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS |
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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 |
(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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue 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 2021 |
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1. | STATUTORY INFORMATION |
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Stillmen Limited is a
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Registered number: |
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Registered office: |
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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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Going concern |
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
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Turnover |
Turnover represents amounts receivable in respect of services provided during the year. |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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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STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Interest |
in | Unlisted |
associate | investments | Totals |
£ | £ | £ |
COST |
At 1st May 2020 | 2,425 |
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3,426,766 |
Reclassification/transfer | ( |
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- |
At 30th April 2021 |
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3,426,766 |
NET BOOK VALUE |
At 30th April 2021 |
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3,426,766 |
At 30th April 2020 |
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3,426,766 |
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Other investments not loans (note 5) comprise the following: |
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a) A 32.27% (2020 - 32.27%) 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 number of shares held at the balance sheet date is 25,577,159 (2020: 25,577,159) 10 RS shares worth £3,382,410 (2020: 3,382,410). |
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b) A 1% (2020: 1%) interest in the issued ordinary share capital of 2 BVI companies. The total investment in this company was £43,080. There was no shareholder loan. |
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c) A 12.30% (2020: 12.30%) interest in the issued ordinary share capital of Troopers Limited. The total investment in this company was £1,231 comprising 1,231 ordinary shares of £1 each. |
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d) A 45% (2020: 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. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by participating interests | - | 314,145 |
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Other debtors related to loans due from Landloan Limited, a related company. |
STILLMEN LIMITED (REGISTERED NUMBER: 04990160) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
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8. | RELATED PARTY DISCLOSURES |
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Landloan Ltd |
An associated company. |
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Related company repaid a loan in the sum of £314,145 during the year. At the balance sheet date, the balance outstanding from related party is £Nil (2020: £314,145). |