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Registration number: 12140728

St Richards Deal Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

St Richards Deal Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

St Richards Deal Ltd

Company Information

Directors

Mrs V Brown

Mr TJ Brown

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

St Richards Deal Ltd

(Registration number: 12140728)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

3,045,000

3,045,000

Current assets

 

Debtors

5

6,320

1,993

Cash at bank and in hand

 

46,398

980,129

 

52,718

982,122

Creditors: Amounts falling due within one year

6

(1,710,525)

(2,621,639)

Net current liabilities

 

(1,657,807)

(1,639,517)

Total assets less current liabilities

 

1,387,193

1,405,483

Creditors: Amounts falling due after more than one year

6

(1,363,333)

(1,403,330)

Net assets

 

23,860

2,153

Capital and reserves

 

Called up share capital

125

125

Retained earnings

23,735

2,028

Shareholders' funds

 

23,860

2,153

For the financial year ending 31 August 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.

 

St Richards Deal Ltd

(Registration number: 12140728)
Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
Mrs V Brown
Director

.........................................
Mr TJ Brown
Director

 

St Richards Deal Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the Board on 3 April 2024.

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.

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.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises 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.

 

St Richards Deal Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

Investment property

Investment property is carried at fair value determined annually by the directors, Changes in fair value are recognised in profit or loss.

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 at the transaction price 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.

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 at the transaction price.

 

St Richards Deal Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 September

3,045,000

At 31 August

3,045,000

The investment properties were valued on the open markert basis on the 31 August 2023 by the directors of the company.

There has been no valuation of investment property by an independent valuer at year end.

5

Debtors

2023
£

2022
£

Trade debtors

4,400

-

Prepayments

1,920

1,993

6,320

1,993

 

St Richards Deal Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

40,000

40,003

Trade creditors

 

110,584

110,584

Taxation and social security

 

31,227

24,728

Accruals and deferred income

 

5,140

5,500

Other creditors

 

1,523,574

2,440,824

 

1,710,525

2,621,639

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

1,363,333

1,403,330

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

1,363,333

1,403,330

Current loans and borrowings

2023
£

2022
£

Bank borrowings

40,000

40,003

The carrying amount of the bank loan is £1,403,333 (2022 - £1,443,333).

The bank loan interest is charged at 2.8% over the bank sterling base rate.

The bank loan is secured by a fixed and floating charge over the company assets and properties.