Company Registration No. SC563347 (Scotland)
STONE ACRE HOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
STONE ACRE HOUSE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2019
30 April 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
2
2,736
157
Cash at bank and in hand
16,482
514,769
19,218
514,926
Creditors: amounts falling due within one year
3
(16,837)
(108,127)
Net current assets
2,381
406,799
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,281
406,699
Total equity
2,381
406,799
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2020 and are signed on its behalf by:
Mr A D F Craig
Director
Company Registration No. SC563347
STONE ACRE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
- 2 -
1
Accounting policies
Company information
Stone Acre House Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
59 Bonnygate, CUPAR, Fife, UK, KY15 4BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The company was incorporated on 13 April 2017 and commenced trading on 14 June 2017. The accounts were prepared for the previous period to 30 April 2018.
1.3
Turnover
T
urnover comprises
income from sale of development projects.
1.4
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
STONE ACRE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
- 3 -
2
Debtors
2019
2018
Amounts falling due within one year:
£
£
Corporation tax recoverable
1,566
-
Other debtors
1,170
157
2,736
157
3
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
-
941
Corporation tax
-
95,440
Other taxation and social security
12,902
11,746
Accruals and deferred income
3,935
-
16,837
108,127