Stryton Developments Ltd 13731207 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of property development Digita Accounts Production Advanced 6.30.9574.0 true true 13731207 2022-12-01 2023-11-30 13731207 2023-11-30 13731207 core:CurrentFinancialInstruments 2023-11-30 13731207 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 13731207 bus:SmallEntities 2022-12-01 2023-11-30 13731207 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13731207 bus:FilletedAccounts 2022-12-01 2023-11-30 13731207 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13731207 bus:RegisteredOffice 2022-12-01 2023-11-30 13731207 bus:Director1 2022-12-01 2023-11-30 13731207 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13731207 countries:EnglandWales 2022-12-01 2023-11-30 13731207 2021-12-01 2022-11-30 13731207 2022-11-30 13731207 core:CurrentFinancialInstruments 2022-11-30 13731207 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 13731207

Stryton Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Stryton Developments Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Stryton Developments Ltd

(Registration number: 13731207)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

814,753

814,753

Debtors

5

-

155,644

Cash at bank and in hand

 

215

-

 

814,968

970,397

Creditors: Amounts falling due within one year

6

(819,232)

(973,577)

Net liabilities

 

(4,264)

(3,180)

Capital and reserves

 

Called up share capital

200

-

Profit and loss account

(4,464)

(3,180)

Shareholders' deficit

 

(4,264)

(3,180)

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.

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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 


Mr Graham Neil Street
Director

 

Stryton Developments 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:
7C Cranmere Road
Okehampton
Devon
EX20 1UE

Principal activity

The principal activity of the company is that of property development

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Stryton Developments Ltd

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

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

4

Stocks

2023
£

2022
£

Work in progress

814,753

814,753

5

Debtors

 

Stryton Developments Ltd

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

5

Debtors (continued)

2023
£

2022
£

Other debtors

-

155,644

-

155,644

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

408,771

563,596

Accruals and deferred income

 

804

1,000

Other creditors

 

409,657

408,981

 

819,232

973,577

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

408,771

563,596