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Registration number: 10377428

Streetz Ahead Creative Housing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Streetz Ahead Creative Housing Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Streetz Ahead Creative Housing Ltd

Company Information

Directors

Miss K O'Connor Farrant

Miss SLR O'Connor

Registered office

58 Northgate Street
Gloucester
GL1 1SQ

 

Streetz Ahead Creative Housing Ltd

(Registration number: 10377428)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

311,501

274,324

Current assets

 

Debtors

5

850,258

396,905

Cash at bank and in hand

 

102,834

116,744

 

953,092

513,649

Creditors: Amounts falling due within one year

6

(760,769)

(520,484)

Net current assets/(liabilities)

 

192,323

(6,835)

Total assets less current liabilities

 

503,824

267,489

Provisions for liabilities

(298)

-

Net assets

 

503,526

267,489

Capital and reserves

 

Called up share capital

1

1

Retained earnings

503,525

267,488

Shareholders' funds

 

503,526

267,489

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2024 and signed on its behalf by:
 

.........................................
Miss K O'Connor Farrant
Director

   
     
 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
58 Northgate Street
Gloucester
GL1 1SQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% per annum straight line.

Plant and machinery

4 years straight line

Fixtures and fittings

4 years straight line

Motor vehicles

5 years straight line

Computer equipment

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2022 - 69).

 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 October 2022

259,000

14,645

10,278

12,249

Additions

-

5,240

964

7,780

At 30 September 2023

259,000

19,885

11,242

20,029

Depreciation

At 1 October 2022

-

8,973

7,187

10,224

Charge for the year

5,180

3,752

2,692

3,102

At 30 September 2023

5,180

12,725

9,879

13,326

Carrying amount

At 30 September 2023

253,820

7,160

1,363

6,703

At 30 September 2022

259,000

5,672

3,091

2,025

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

8,865

305,037

Additions

53,513

67,497

At 30 September 2023

62,378

372,534

Depreciation

At 1 October 2022

4,329

30,713

Charge for the year

15,594

30,320

At 30 September 2023

19,923

61,033

Carrying amount

At 30 September 2023

42,455

311,501

At 30 September 2022

4,536

274,324

 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

5

Debtors

Current

2023
£

2022
£

Trade debtors

542,189

216,333

Prepayments

26,022

-

Other debtors

282,047

180,572

 

850,258

396,905

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

358,648

318,649

Trade creditors

 

58,237

7,231

Taxation and social security

 

287,699

168,783

Accruals and deferred income

 

55,226

23,155

Other creditors

 

959

2,666

 

760,769

520,484

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Directors current account

358,648

318,649

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £37,500.00 per each Ordinary £1

 

37,500

 

37,500

         
 

Streetz Ahead Creative Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,996

16,602

Contributions paid to money purchase schemes

40,000

20,000

52,996

36,602

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

Advanced

378,640

378,640

Repaid

(210,741)

(210,741)

At end of period

167,899

167,899

Terms of loans to related parties

Streetz Ahead Property Management Ltd has been provided a loan with no terms of repayment or interest charged. The Compamies are under common control.
 

Loans from related parties

2023

Key management
£

Total
£

At start of period

318,647

318,647

Advanced

(100,000)

(100,000)

Repaid

140,000

140,000

At end of period

358,647

358,647

2022

Key management
£

Total
£

At start of period

2,143

2,143

Advanced

(143,496)

(143,496)

Repaid

460,000

460,000

At end of period

318,647

318,647