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REGISTERED NUMBER: 00665585 (England and Wales)















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: BD Oldfield





SECRETARY: Mrs J Oldfield





REGISTERED OFFICE: Suite 1, 31 Sheephouse
Farnham
Surrey
GU9 8LR





BUSINESS ADDRESS: 4 Trafalgar Gate
The Strand
Brighton Marina Village
Brighton
BN2 5UY





REGISTERED NUMBER: 00665585 (England and Wales)





ACCOUNTANTS: Inghams Tax & Accounting Limited
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 1,390,000 1,390,000

CURRENT ASSETS
Debtors 5 2,572 1,160
Cash at bank 47,196 105,031
49,768 106,191
CREDITORS
Amounts falling due within one year 6 248,619 346,501
NET CURRENT LIABILITIES (198,851 ) (240,310 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,191,149

1,149,690

PROVISIONS FOR LIABILITIES 182,914 182,914
NET ASSETS 1,008,235 966,776

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 7 880,712 880,712
Retained earnings 127,521 86,062
SHAREHOLDERS' FUNDS 1,008,235 966,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 3 October 2023 and were signed by:





BD Oldfield - Director


Stelry Limited (Registered number: 00665585)

Notes to the Financial Statements
for the Year Ended 5 April 2023

1. STATUTORY INFORMATION

Stelry Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises amounts receivable from the company's rental property.

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 1 (2022 - 1 ) .

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 1,390,000
NET BOOK VALUE
At 5 April 2023 1,390,000
At 5 April 2022 1,390,000

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 2,120 876
Other debtors 452 284
2,572 1,160

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.23 5.4.22
£    £   
Other creditors 248,619 346,501

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 880,712

The fair value reserve comprises the revaluation adjustments to investment assets less deferred tax arising as a result of these adjustments.