Strara Properties Limited 13185823 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is rental property. Digita Accounts Production Advanced 6.30.9574.0 true true 13185823 2023-03-01 2024-02-29 13185823 2024-02-29 13185823 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-29 13185823 core:CurrentFinancialInstruments 2024-02-29 13185823 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13185823 core:Non-currentFinancialInstruments 2024-02-29 13185823 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 13185823 bus:SmallEntities 2023-03-01 2024-02-29 13185823 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13185823 bus:FullAccounts 2023-03-01 2024-02-29 13185823 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13185823 bus:RegisteredOffice 2023-03-01 2024-02-29 13185823 bus:Director1 2023-03-01 2024-02-29 13185823 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-01 2024-02-29 13185823 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13185823 countries:EnglandWales 2023-03-01 2024-02-29 13185823 2023-02-28 13185823 2022-03-01 2023-02-28 13185823 2023-02-28 13185823 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 13185823 core:CurrentFinancialInstruments 2023-02-28 13185823 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13185823 core:Non-currentFinancialInstruments 2023-02-28 13185823 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13185823

Strara Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Strara Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Strara Properties Limited

Company Information

Director

Mr J Perrin

Registered office

124 City Road
London
EC1V 2NX

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Strara Properties Limited

(Registration number: 13185823)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

450,000

210,000

Current assets

 

Debtors

5

-

501

Cash at bank and in hand

 

1,697

2,511

 

1,697

3,012

Creditors: Amounts falling due within one year

6

(167,714)

(86,638)

Net current liabilities

 

(166,017)

(83,626)

Total assets less current liabilities

 

283,983

126,374

Creditors: Amounts falling due after more than one year

6

(223,603)

(116,250)

Provisions for liabilities

(22,908)

(9,019)

Net assets

 

37,472

1,105

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

37,372

1,005

Shareholders' funds

 

37,472

1,105

 

Strara Properties Limited

(Registration number: 13185823)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 15 April 2024
 

.........................................
Mr J Perrin
Director

 

Strara Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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:
124 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the director on 15 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.

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 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.

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.

 

Strara Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. 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 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.

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.

 

Strara Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 March

210,000

Additions

166,902

Fair value adjustments

73,098

At 29 February

450,000

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

5

Debtors

2024
£

2023
£

Prepayments

-

501

-

501

 

Strara Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,239

1,108

Other creditors

166,475

85,530

167,714

86,638

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

223,603

116,250

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

223,603

116,250

Secured Liabilities

The loan of £223,603 is secured by a fixed charge over the company's investment property.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100