0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09688211 2022-08-01 2023-08-31 09688211 2023-08-31 09688211 2022-07-31 09688211 2021-08-01 2022-07-31 09688211 2022-07-31 09688211 2021-07-31 09688211 bus:Director1 2022-08-01 2023-08-31 09688211 core:WithinOneYear 2023-08-31 09688211 core:WithinOneYear 2022-07-31 09688211 core:AfterOneYear 2023-08-31 09688211 core:AfterOneYear 2022-07-31 09688211 core:ShareCapital 2023-08-31 09688211 core:ShareCapital 2022-07-31 09688211 core:RetainedEarningsAccumulatedLosses 2023-08-31 09688211 core:RetainedEarningsAccumulatedLosses 2022-07-31 09688211 bus:SmallEntities 2022-08-01 2023-08-31 09688211 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-08-31 09688211 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-08-31 09688211 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-08-31 09688211 bus:FullAccounts 2022-08-01 2023-08-31
COMPANY REGISTRATION NUMBER: 09688211
St Mary's Development (Kent) Ltd
Filleted Unaudited Financial Statements
31 August 2023
St Mary's Development (Kent) Ltd
Statement of Financial Position
31 August 2023
31 Aug 23
31 Jul 22
Note
£
£
Current assets
Stocks
1,396,490
1,362,574
Debtors
4
12,392
27,709
Cash at bank and in hand
2,857
1
------------
------------
1,411,739
1,390,284
Creditors: amounts falling due within one year
5
743,400
668,879
------------
------------
Net current assets
668,339
721,405
---------
---------
Total assets less current liabilities
668,339
721,405
Creditors: amounts falling due after more than one year
6
717,173
773,164
---------
---------
Net liabilities
( 48,834)
( 51,759)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 48,835)
( 51,760)
--------
--------
Shareholders deficit
( 48,834)
( 51,759)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 August 2023 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
St Mary's Development (Kent) Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr B Heer
Director
Company registration number: 09688211
St Mary's Development (Kent) Ltd
Notes to the Financial Statements
Period from 1 August 2022 to 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Debtors
31 Aug 23
31 Jul 22
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,483
Other debtors
12,392
24,226
--------
--------
12,392
27,709
--------
--------
5. Creditors: amounts falling due within one year
31 Aug 23
31 Jul 22
£
£
Bank loans and overdrafts
54,271
60,012
Trade creditors
74,683
Amounts owed to group undertakings and undertakings in which the company has a participating interest
480,186
307,588
Corporation tax
18
Other creditors
208,943
226,578
---------
---------
743,400
668,879
---------
---------
6. Creditors: amounts falling due after more than one year
31 Aug 23
31 Jul 22
£
£
Bank loans and overdrafts
717,173
773,164
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £561,590 (2022: £552,080) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7. Going concern
The companies liabilities exceed its assets by £48,834 as at the year end. The directors have stated that they will continue to support the company and therefore the company will continue on a going concern basis.