Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr A R W Strang 16/03/1999 Mrs G A Strang 16/03/1999 02 November 2023 The principal activity of the company is mixed farming. 03731970 2023-03-31 03731970 bus:Director1 2023-03-31 03731970 bus:Director2 2023-03-31 03731970 2022-03-31 03731970 core:CurrentFinancialInstruments 2023-03-31 03731970 core:CurrentFinancialInstruments 2022-03-31 03731970 core:Non-currentFinancialInstruments 2023-03-31 03731970 core:Non-currentFinancialInstruments 2022-03-31 03731970 core:ShareCapital 2023-03-31 03731970 core:ShareCapital 2022-03-31 03731970 core:SharePremium 2023-03-31 03731970 core:SharePremium 2022-03-31 03731970 core:RetainedEarningsAccumulatedLosses 2023-03-31 03731970 core:RetainedEarningsAccumulatedLosses 2022-03-31 03731970 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-03-31 03731970 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 03731970 core:LandBuildings 2022-03-31 03731970 core:PlantMachinery 2022-03-31 03731970 core:FurnitureFittings 2022-03-31 03731970 core:LandBuildings 2023-03-31 03731970 core:PlantMachinery 2023-03-31 03731970 core:FurnitureFittings 2023-03-31 03731970 2022-04-01 2023-03-31 03731970 bus:FullAccounts 2022-04-01 2023-03-31 03731970 bus:SmallEntities 2022-04-01 2023-03-31 03731970 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03731970 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03731970 bus:Director1 2022-04-01 2023-03-31 03731970 bus:Director2 2022-04-01 2023-03-31 03731970 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-04-01 2023-03-31 03731970 core:PlantMachinery 2022-04-01 2023-03-31 03731970 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 03731970 2021-04-01 2022-03-31 03731970 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-04-01 2023-03-31 03731970 core:LandBuildings 2022-04-01 2023-03-31 03731970 core:FurnitureFittings 2022-04-01 2023-03-31 03731970 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 03731970 (England and Wales)

STRANG LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

STRANG LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

STRANG LIMITED

BALANCE SHEET

As at 31 March 2023
STRANG LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 373 745
Tangible assets 4 3,263,667 3,297,228
3,264,040 3,297,973
Current assets
Stocks 93,480 116,298
Debtors 5 136,964 97,455
Cash at bank and in hand 184,311 3,890
414,755 217,643
Creditors: amounts falling due within one year 6 ( 1,273,942) ( 1,256,034)
Net current liabilities (859,187) (1,038,391)
Total assets less current liabilities 2,404,853 2,259,582
Creditors: amounts falling due after more than one year 7 ( 511,827) ( 529,596)
Provision for liabilities ( 51,980) ( 31,753)
Net assets 1,841,046 1,698,233
Capital and reserves
Called-up share capital 1,000,000 1,000,000
Share premium account 550,113 550,113
Profit and loss account 290,933 148,120
Total shareholder's funds 1,841,046 1,698,233

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Strang Limited (registered number: 03731970) were approved and authorised for issue by the Board of Directors on 02 November 2023. They were signed on its behalf by:

Mrs G A Strang
Director
STRANG LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
STRANG LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Strang Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Manor Farm, Sutton Mandeville, Salisbury, SP3 5NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements 4 years straight line
Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Land and buildings not depreciated
Plant and machinery 20 % reducing balance
Fixtures and fittings 10 years straight line
Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. For the purposes of valuing agricultural stocks, cost of production for cattle and crops in store have been measured at 60% and 75% respectively of market value at the balance sheet date.

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 stocks 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.

Financial instruments

The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Entitlements Total
£ £
Cost
At 01 April 2022 1,489 1,489
At 31 March 2023 1,489 1,489
Accumulated amortisation
At 01 April 2022 744 744
Charge for the financial year 372 372
At 31 March 2023 1,116 1,116
Net book value
At 31 March 2023 373 373
At 31 March 2022 745 745

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2022 3,100,414 779,169 3,668 3,883,251
Additions 4,188 26,355 1,582 32,125
At 31 March 2023 3,104,602 805,524 5,250 3,915,376
Accumulated depreciation
At 01 April 2022 140,618 444,670 735 586,023
Charge for the financial year 0 64,783 903 65,686
At 31 March 2023 140,618 509,453 1,638 651,709
Net book value
At 31 March 2023 2,963,984 296,071 3,612 3,263,667
At 31 March 2022 2,959,796 334,499 2,933 3,297,228

5. Debtors

2023 2022
£ £
Trade debtors 881 32,405
Other debtors 136,083 65,050
136,964 97,455

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 30,038 18,033
Trade creditors 16,681 13,264
Taxation and social security 5,010 1,069
Obligations under finance leases and hire purchase contracts 14,213 13,817
Other creditors 1,208,000 1,209,851
1,273,942 1,256,034

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 511,827 515,383
Obligations under finance leases and hire purchase contracts 0 14,213
511,827 529,596

There are no amounts included above in respect of which any security has been given by the small entity.