Company registration number 08755885 (England and Wales)
Stretton (Ormskirk) Ltd
Unaudited financial statements
For the year ended 30 September 2023
Stretton (Ormskirk) Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Stretton (Ormskirk) Ltd
Balance sheet
As at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
84,101
84,101
Debtors
3
6,247
4,729
Cash at bank and in hand
1,623
15,855
91,971
104,685
Creditors: amounts falling due within one year
4
(103,429)
(114,940)
Net current liabilities
(11,458)
(10,255)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(11,558)
(10,355)
Total equity
(11,458)
(10,255)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 4 April 2024 and are signed on its behalf by:
Mr S Chantler
Director
Company registration number 08755885 (England and Wales)
Stretton (Ormskirk) Ltd
Notes to the financial statements
For the year ended 30 September 2023
- 2 -
1
Accounting policies
Company information

Stretton (Ormskirk) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Cheshire, CW5 6PF, Nantwich.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The nature of the company's business is such that it has entered into a single contract, for which it will bear upfront costs with the potential for cash inflow at the end of the contract.

 

The company meets its day to day working capital requirements through interest-free loans provided by entities under the control of the shareholders. This funding will continue for the foreseeable future.

 

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Stocks

Amounts included in work in progress are stated at the lower of cost and net realisable value. Net realisable value is considered in relation to the eventual outcome of planning permission being obtained on a site under the terms of the company's contractual obligations.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Stretton (Ormskirk) Ltd
Notes to the financial statements (CONTINUED)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,200
2,200
Other debtors
194
100
2,394
2,300
Deferred tax asset
3,853
2,429
6,247
4,729
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
576
-
0
Other creditors
101,854
113,954
Accruals and deferred income
999
986
103,429
114,940
Stretton (Ormskirk) Ltd
Notes to the financial statements (CONTINUED)
For the year ended 30 September 2023
- 4 -
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
6
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Entities under common control
101,854
113,954
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