REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2023 |
for |
Stelry Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2023 |
for |
Stelry Limited |
Stelry Limited (Registered number: 00665585) |
Contents of the Financial Statements |
for the Year Ended 5 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Stelry Limited |
Company Information |
for the Year Ended 5 April 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 1 |
31 Sheephouse |
Farnham |
Surrey |
GU9 8LR |
Stelry Limited (Registered number: 00665585) |
Balance Sheet |
5 April 2023 |
5.4.23 | 5.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings | 86,062 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Stelry Limited (Registered number: 00665585) |
Balance Sheet - continued |
5 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Stelry Limited (Registered number: 00665585) |
Notes to the Financial Statements |
for the Year Ended 5 April 2023 |
1. | STATUTORY INFORMATION |
Stelry Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Investment property |
Investment property is shown at year end valuation. Any aggregate surplus or deficit arising from changes in fair value is firstly recognised in the income statement and then transferred across to the fair value reserve. Deferred tax arising on revaluation of investments is also transferred to the fair value reserve. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
Deferred tax arising from revaluation of investment assets is transferred from retained earnings to the fair value reserve where it is netted off against the fair value adjustment of the asset. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Stelry Limited (Registered number: 00665585) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2022 |
and 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
The company's investment property comprises a residential property in E5, London. The property was encumbered under a long term contract at a peppercorn rent until 2017 and has since been converted into two flats, with 2020/21 being the first full period of lettings. |
The investment properties were valued by the Director using an independent Estate Agent for the 2022 accounts at £1.39m (2020 £1.308m). The Director is of the opinion that there has been no significant change in their value during the year ended 5 April 2023. |
If the investment property had not been revalued in these accounts then it would have been included at a historical cost of £302,701. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Other creditors |
Included within other creditors is £239,247 (2022 £338,731) advanced to the company by it's director B Oldfield. The Director does not foresee the requirement for repayment of this balance however it is considered due within one year. |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 6 April 2022 |
and 5 April 2023 |
The fair value reserve comprises the revaluation adjustments to investment assets less deferred tax arising as a result of these adjustments. |