REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Stratwicks Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Stratwicks Limited |
Stratwicks Limited (Registered number: 01840533) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Stratwicks Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Stratwicks Limited (Registered number: 01840533) |
Abridged Statement of Financial Position |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Stratwicks Limited (Registered number: 01840533) |
Abridged Statement of Financial Position - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Stratwicks Limited (Registered number: 01840533) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Stratwicks Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vans | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first in first out method. |
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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. |
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. |
Stratwicks Limited (Registered number: 01840533) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Goodwill |
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. |
Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. |
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life. Goodwill was fully amortised in the previous accounting period. |
Investment property |
Investment property is included at fair value. Any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment property. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Stratwicks Limited (Registered number: 01840533) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Pursuance to disposal of the Ground Floor shop at arms' length on 06/06/2019, the upper parts of the freehold property comprising of 2 nos. residential flats represent investment property. (Historical cost: £360,206 on 1 September 2005) |
The valuation of the freehold property was carried out by Mr Trevor Jackman, MRICS of Aspect Surveyors Limited, of 4 Kings Cross Road, London WC1X 9QA on 18 January 2019. |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Valuation in 2019 | 924,221 |
Stratwicks Limited (Registered number: 01840533) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 100 |
NET BOOK VALUE |
At 31 December 2023 | 100 |
At 31 December 2022 | 100 |
7. | LEASING AGREEMENTS |
As at 31 December 2023, the company had total minimum lease payment commitments under non-cancellable operating leases as follows:- |
< 1 year £58,148 (2022: £54,500) |
Between 2 - 5 years £226,660 (2022: £218,000) |
Over 5 years £286,975 (2022: £341,975) |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
Movement on deferred tax | (1,878 | ) |
At 31 December 2023 |
9. | RELATED PARTY DISCLOSURES |
During the year, dividends to the tune of £266,800 (2022: £266,800) were paid to the directors in their capacity as shareholders. |
10. | ULTIMATE CONTROLLING PARTY |
The company was under the control of the directors throughout the current and previous period by virtue of the fact that between them they own the entire issued share capital of the company. |