Company registration number 08290401 (England and Wales)
STRAKERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
STRAKERS LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
STRAKERS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
815,000
815,000
Current assets
Debtors
4
3,920
6,024
Cash at bank and in hand
19,742
30,005
23,662
36,029
Creditors: amounts falling due within one year
5
(206,968)
(216,932)
Net current liabilities
(183,306)
(180,903)
Total assets less current liabilities
631,694
634,097
Provisions for liabilities
(109,622)
(109,622)
Net assets
522,072
524,475
Capital and reserves
Called up share capital
2
2
Revaluation reserve
362,109
362,109
Profit and loss reserves
159,961
162,364
Total equity
522,072
524,475
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
D Strassman
Director
Company Registration No. 08290401
STRAKERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Strakers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 24 Brookside Road, London, NW11 9NE.
1.1
Accounting convention
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover represents net rental income receivable, excluding value added tax. Income is recognised when the rent becomes due.
1.3
Investment properties
Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis, are measured at fair value. Gains or losses arising from changes in the fair value of investment properties are included in the Income Statement, in the period in which they arise.
Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis, are included other fixed assets at cost less accumulated depreciation and accumulated impairment losses.
1.4
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttabale ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Debtors
Basic financial assets, including trade and other debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.
Creditors
Basic financial liabilities, including trade and other creditors, are recognised at transaction price.
1.5
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
STRAKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
815,000
Investment properties were revalued at open market basis on 30 November 2023 by the directors with no change being needed.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
101
3,498
Other debtors
3,819
2,526
3,920
6,024
STRAKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,330
Corporation tax
6,037
Other creditors
204,638
210,895
206,968
216,932