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Registration number: 12836833

Statom House Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Statom House Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Statom House Ltd

Company Information

Directors

Mrs V Brown

Mr S E Nikudinski

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

 

Statom House Ltd

(Registration number: 12836833)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,624,132

1,624,132

Other financial assets

5

1

1

 

1,624,133

1,624,133

Current assets

 

Debtors

6

22,867

1,928

Cash at bank and in hand

 

2,046

15,208

 

24,913

17,136

Creditors: Amounts falling due within one year

7

(145,087)

(605,471)

Net current liabilities

 

(120,174)

(588,335)

Total assets less current liabilities

 

1,503,959

1,035,798

Creditors: Amounts falling due after more than one year

7

(1,255,980)

(821,233)

Net assets

 

247,979

214,565

Capital and reserves

 

Called up share capital

100

100

Retained earnings

247,879

214,465

Shareholders' funds

 

247,979

214,565

For the financial year ending 30 November 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.

 

Statom House Ltd

(Registration number: 12836833)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 8 July 2024 and signed on its behalf by:
 

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

.........................................
Mr S E Nikudinski
Director

 

Statom House Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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 8 July 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 rents receivable by the company, excluding value added tax.

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.

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.

 

Statom House Ltd

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

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 initially at the transaction price.

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).

 

Statom House Ltd

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

4

Investment properties

2023
£

At 1 December

1,624,132

At 30 November

1,624,132

Investment property was valued on the open market basis on 30 November 2023 by the the company director's. They considered the value to be the same as historical cost.

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

 

Statom House Ltd

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

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2022

1

1

At 30 November 2023

1

1

Impairment

Carrying amount

At 30 November 2023

1

1

6

Debtors

Current

2023
£

2022
£

Prepayments

442

-

Other debtors

22,425

1,928

 

22,867

1,928

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

49,085

30,047

Trade creditors

 

-

478

Taxation and social security

 

69,720

50,364

Accruals and deferred income

 

1,800

7,100

Other creditors

 

24,482

517,482

 

145,087

605,471

 

Statom House Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,255,980

821,233

Creditors include bank loan which is secured of £1,305.065. The bank loan is secured by a fixed and floating charge over the company's assets and a legal charge over the leasehold property.

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

1,255,980

821,233

Current loans and borrowings

2023
£

2022
£

Bank borrowings

49,085

30,047