Silverfin false 28/02/2023 01/03/2022 28/02/2023 J J M St John 19/02/2021 M M St John 19/02/2021 29 November 2023 The principal activity of the Company during the financial year was letting and operating of own or leased real estate 13212176 2023-02-28 13212176 bus:Director1 2023-02-28 13212176 bus:Director2 2023-02-28 13212176 2022-02-28 13212176 core:CurrentFinancialInstruments 2023-02-28 13212176 core:CurrentFinancialInstruments 2022-02-28 13212176 core:ShareCapital 2023-02-28 13212176 core:ShareCapital 2022-02-28 13212176 core:RetainedEarningsAccumulatedLosses 2023-02-28 13212176 core:RetainedEarningsAccumulatedLosses 2022-02-28 13212176 2022-03-01 2023-02-28 13212176 bus:FullAccounts 2022-03-01 2023-02-28 13212176 bus:SmallEntities 2022-03-01 2023-02-28 13212176 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13212176 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13212176 bus:Director1 2022-03-01 2023-02-28 13212176 bus:Director2 2022-03-01 2023-02-28 13212176 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Company No: 13212176 (England and Wales)

ST JOHN PRIORY COTTAGES LTD

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

ST JOHN PRIORY COTTAGES LTD

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

ST JOHN PRIORY COTTAGES LTD

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
ST JOHN PRIORY COTTAGES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 1,091,209 1,086,001
1,091,209 1,086,001
Current assets
Cash at bank and in hand 4 37,731 9,487
37,731 9,487
Creditors: amounts falling due within one year 5 ( 1,116,733) ( 1,088,241)
Net current liabilities (1,079,002) (1,078,754)
Total assets less current liabilities 12,207 7,247
Net assets 12,207 7,247
Capital and reserves
Called-up share capital 100 100
Profit and loss account 12,107 7,147
Total shareholder's funds 12,207 7,247

For the financial year ending 28 February 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 St John Priory Cottages Ltd (registered number: 13212176) were approved and authorised for issue by the Director. They were signed on its behalf by:

J J M St John
Director

29 November 2023

ST JOHN PRIORY COTTAGES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
ST JOHN PRIORY COTTAGES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 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

St John Priory Cottages Ltd (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 The Priory Scabharbour Road, Hildenborough, Tonbridge, TN11 8PJ, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 March 2022 1,086,001
Additions 5,208
As at 28 February 2023 1,091,209

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 37,731 9,487

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 1,116,733 1,088,241

6. Related party transactions

Other related party transactions

2023 2022
£ £
Other creditors 440,113 433,850

Included within other creditors is an amount of £6,163 (2022: -£100) due to the company director. The balance is unsecured, interest free and repayable upon demand.

Also included within other creditors is an amount of £433,950 due to a connected company. The balance is unsecured and accruing interest at 2.5%.