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Registration number: 8472914

Strang Management Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 May 2023 to 31 March 2024

 

Strang Management Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

 

Strang Management Limited

Company Information

Director

Mr Nicholas Marshall

Registered office

Office 2, 1st Floor
41 - 43 Liverpool Road
Cadishead
Manchester
M44 5BQ

Accountants

Hutton Pike Limited
Chartered Certified Accountants
Office 2, 1st Floor
41 - 43 Liverpool Road
Cadishead
Manchester
M44 5BQ

 

Strang Management Limited

(Registration number: 8472914)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

937

38,620

Investments

5

864

864

 

1,801

39,484

Current assets

 

Debtors

187,459

193,959

Other financial assets

6

2,208,864

-

Cash at bank and in hand

 

9,011,322

9,758,433

 

11,407,645

9,952,392

Prepayments and accrued income

 

162,818

62,684

Creditors: Amounts falling due within one year

(39,168)

(30,966)

Net current assets

 

11,531,295

9,984,110

Total assets less current liabilities

 

11,533,096

10,023,594

Provisions for liabilities

(46,043)

(9,655)

Accruals and deferred income

 

(2,880)

(2,575)

Net assets

 

11,484,173

10,011,364

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

11,484,172

10,011,363

Shareholders' funds

 

11,484,173

10,011,364

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Strang Management Limited

(Registration number: 8472914)
Abridged Balance Sheet as at 31 March 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 September 2024
 

.........................................
Mr Nicholas Marshall
Director

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

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:
Office 2, 1st Floor
41 - 43 Liverpool Road
Cadishead
Manchester
M44 5BQ

These financial statements were authorised for issue by the director on 12 September 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 abridged 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 abridged 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.

Group accounts not prepared

The financial statements contain information about Strang Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 383 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and subsidiary undertakings are classed as small by reference to sections 384 and 399(2A) of the Companies Act 2006..

Judgements

There are no judgements that have a significant effect on amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

Finance income and costs policy

Franked investment income is recognised when it is received. Interest is measured as the amounts received during the period less any accrued interest already accounted for in prior years plus any accured interest for loans on which interest is earned but has not been received at the end of the year.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

7.5% on reducing balance

Fixtures and fittings

25% on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiary and associated undertakings are measured at cost. Dividends on equity securities are recognised in income when receivable.

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

56,740

56,740

Additions

1,249

-

1,249

Disposals

-

(56,740)

(56,740)

At 31 March 2024

1,249

-

1,249

Depreciation

At 1 May 2023

-

18,120

18,120

Charge for the period

312

1,745

2,057

Eliminated on disposal

-

(19,865)

(19,865)

At 31 March 2024

312

-

312

Carrying amount

At 31 March 2024

937

-

937

At 30 April 2023

-

38,620

38,620

5

Investments

Total
£

Cost or valuation

At 1 May 2023

864

Provision

Carrying amount

At 31 March 2024

864

At 30 April 2023

864

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Strang Investments (2007) Limited

Leigh House, 28-32 St Pauls Street, Leeds, LS1 2JT

England and Wales

B Ordinary Shares

75%

75%

Strang Investments (2) Limited

Leigh House, 28-32 St Pauls Street, Leeds, LS1 2JT

England & Wales

Ordinary Shares

75%

75%

Associates

Fermain Residential Property Management Limited

Leigh House, 28-32 St Paul's Street, Leeds, LS1 2JT

A Ordinary Shares

37.5%

37.5%

England & Wales

HM365 Limited

Marshall House, Rake Lane, Clifton, Manchester, M27 8LJ

Ordinary Shares

50%

50%

England and Wales

Langdale Capital Limited

Leigh House, 28-32 St. Pauls Street, Leeds, LS1 2JT

A Ordinary Shares

38.25%

38.25%

England and Wales

Subsidiary undertakings

Strang Investments (2007) Limited

The principal activity of Strang Investments (2007) Limited is property investment.

Strang Investments (2) Limited

The principal activity of Strang Investments (2) Limited is property investment.

Associates

Fermain Residential Property Management Limited

The principal activity of Fermain Residential Property Management Limited is property management.

HM365 Limited

The principal activity of HM365 Limited is raising sheep and goats.

Langdale Capital Limited

The principal activity of Langdale Capital Limited is property development.

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

Additions

2,208,864

2,208,864

At 31 March 2024

2,208,864

2,208,864

Impairment

Carrying amount

At 31 March 2024

2,208,864

2,208,864

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Related party transactions

Summary of transactions with subsidiaries

Strang Investments (2007) Limited

There were no transactions with Strang Investments (2007) Limited during the period. In the prior year ended 30 April 2023 the outstanding loan of £1,591,000 was repaid and the company received interest of £213,440.

Strang Investments (2) Limited

There were no transactions with Strang Investments (2) Limited during the period. In the prior year ended 30 April 2023 the outstanding loan of £1,086,000 was repaid and the company received interest of £111,919.

 

Strang Management Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 March 2024

Summary of transactions with associates

Fermain Residential Management Limited

A company in which Mr Marshall is a shareholder.

At 31 March 2024 Fermain Residential Management Limited owed a balance of £17,200 (2023 : £23,700) to the company. During the year the company received £7,445 (2023 : 7,445) comprising interest of £2,164 (2023 : £2,645) and capital of £6,500 (2023 : £4,800). The company has accrued interest of £587 (2023 : £1,445) in respect of the loan. The loan is repayable on demand.

HM365 Limited

A company in which Mr Marshall is a shareholder.

During the period loans of £nil (2023 : £nil) were made to HM365 Limited. At 31 March 2024 there is an outstanding balance of £170,259 (2023 : £170,259). The loan is interest free and repayable on demand.

9

Parent and ultimate parent undertaking

The ultimate controlling party is Nicholas Marshall.