Registration number:
Prepared for the registrar
for the
Year Ended
Stone Circle Development Company Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Stone Circle Development Company Limited
Company Information
Directors |
S D Hendey N Samuels J C Terry I L Thorn B A Wayman |
Company secretary |
M J A Wilson |
Registered office |
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Auditors |
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Stone Circle Development Company Limited
(Registration number: 12195120)
Balance Sheet as at 31 March 2022
Note |
31 March 2022 |
31 March 2021 |
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Current assets |
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Work in progress |
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Debtors |
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Creditors: Amounts falling due within one year |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Stone Circle Development Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Name of parent of group
These financial statements are consolidated in the financial statements of Stone Circle Holding Company Limited.
The financial statements of Stone Circle Holding Company Limited may be obtained from Companies House.
Going concern
The financial statements have been prepared on a going concern basis on the assumption that support from its parent undertaking, Wiltshire Council, will continue to be forthcoming for the foreseeable future.
Judgements and estimation uncertainties
These financial statements do not contain any significant judgements or estimation uncertainty. |
Stocks
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Stone Circle Development Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Stone Circle Development Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
Year ended 31 March 2022 |
1 January 2020 to 31 March 2021 |
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Directors |
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Debtors |
31 March 2022 |
31 March 2021 |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Note |
31 March 2022 |
31 March 2021 |
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Due within one year |
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Trade creditors |
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Amounts due to group undertakings |
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Other creditors |
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Accrued expenses |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
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Non-current loans and borrowings |
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Other borrowings |
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Included within other borrowings is £501,922 loaned by the company's ultimate parent entity, Wiltshire Council. The loan is due for repayment in March 2030, and interest is charged at 3.6% per annum. The loan is secured on assets held by the company.
Share capital |
Allotted, called up and fully paid shares
31 March 2022 |
31 March 2021 |
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No. |
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No. |
£ |
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1 |
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1 |
Stone Circle Development Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Parent and ultimate parent undertaking |
The company's immediate parent undertaking is
The ultimate parent undertaking is
Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report |
As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. Accordingly, the Independent Auditors’ Report has also been omitted.