Company Registration No. 02353985 (England and Wales)
Steadfast Properties Limited
Unaudited accounts
for the year ended 31 December 2023
Steadfast Properties Limited
Unaudited accounts
Contents
Steadfast Properties Limited
Company Information
for the year ended 31 December 2023
Company Number
02353985 (England and Wales)
Registered Office
61 HIGH STREET
GREENFIELD
BEDFORD
BEDFORDSHIRE
MK45 5DD
Accountants
Offgrid Ltd
394 Goldington Road
Bedford
Bedfordshire
MK41 9NT
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Steadfast Properties Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Steadfast Properties Limited for the year ended
31 December 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Steadfast Properties Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2018. Our work has been undertaken solely to prepare for your approval the accounts of Steadfast Properties Limited and state those matters that we have agreed to state to the Board of Directors of Steadfast Properties Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steadfast Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Steadfast Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Steadfast Properties Limited. You consider that Steadfast Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Steadfast Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Offgrid Ltd
Chartered Accountants
394 Goldington Road
Bedford
Bedfordshire
MK41 9NT
8 February 2024
Steadfast Properties Limited
Statement of financial position
as at 31 December 2023
Tangible assets
50,444
51,590
Inventories
365,000
304,000
Cash at bank and in hand
25,388
1,375
Creditors: amounts falling due within one year
(218,668)
(124,437)
Net current assets
247,198
243,631
Total assets less current liabilities
297,642
295,221
Creditors: amounts falling due after more than one year
(34,146)
(30,359)
Net assets
263,496
264,862
Called up share capital
50,000
50,000
Revaluation reserve
160,000
160,000
Profit and loss account
53,496
54,862
Shareholders' funds
263,496
264,862
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 February 2024 and were signed on its behalf by
Mr S R Janes
Director
Company Registration No. 02353985
Steadfast Properties Limited
Notes to the Accounts
for the year ended 31 December 2023
Steadfast Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 02353985. The registered office is 61 HIGH STREET, GREENFIELD, BEDFORD, BEDFORDSHIRE, MK45 5DD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Motor vehicles
25% on cost
Computer equipment
50% on cast
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
57,239
47,796
-
105,035
Additions
15,950
-
833
16,783
At 31 December 2023
73,189
47,796
833
121,818
At 1 January 2023
11,448
41,997
-
53,445
Charge for the year
11,714
5,799
416
17,929
At 31 December 2023
23,162
47,796
416
71,374
At 31 December 2023
50,027
-
417
50,444
At 31 December 2022
45,791
5,799
-
51,590
Steadfast Properties Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
13,576
5,264
Other debtors
48,482
46,518
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
6,830
Obligations under finance leases and hire purchase contracts
10,169
5,385
Trade creditors
66,304
15,285
Taxes and social security
5
5
Loans from directors
140,990
95,732
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
34,146
30,359
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).