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REGISTERED NUMBER: 05038093 (England and Wales)














STREAM JET PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






STREAM JET PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 05038093)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STREAM JET PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: S Walton
J D Walton





REGISTERED OFFICE: Glenewes House
Gate Way Drive
Yeadon
Leeds
West Yorkshire
LS19 7XY





BUSINESS ADDRESS: 10 Barkers Well Fold
Leeds
West Yorkshire
LS12 5TR





REGISTERED NUMBER: 05038093 (England and Wales)





ACCOUNTANTS: BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

STREAM JET PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 05038093)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 603,130 635,992

CURRENT ASSETS
Debtors 5 5,636 5,533
Cash at bank 10,468 9,320
16,104 14,853
CREDITORS
Amounts falling due within one year 6 394,834 412,136
NET CURRENT LIABILITIES (378,730 ) (397,283 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,400

238,709

PROVISIONS FOR LIABILITIES 15,238 15,238
NET ASSETS 209,162 223,471

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Other reserves 170,302 170,302
Retained earnings 28,860 43,169
SHAREHOLDERS' FUNDS 209,162 223,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:



S Walton - Director


STREAM JET PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 05038093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Stream Jet Property Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents gross rents receivable for the period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

STREAM JET PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 05038093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 635,992
Disposals (32,862 )
At 28 February 2023 603,130
NET BOOK VALUE
At 28 February 2023 603,130
At 28 February 2022 635,992

The investment properties were valued at the year end by reference to the Nationwide House Price Index, where applicable.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 560 511
Other debtors 5,076 5,022
5,636 5,533

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,352 949
Other creditors 390,482 411,187
394,834 412,136

7. RELATED PARTY DISCLOSURES

During the year, the company covered costs totalling £4,565 (2022: £3,443) on behalf of Stream Jet Holdings Limited, a company with directors in common.

At the balance sheet date the company owed £387,909 (2022 : £408,282) to Stream Jet Holdings Limited.

The company also received rental income from A Walton, daughter of the directors, totalling £2,400 (2022: £2,400).