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Registered number: 01602280










STRATTON CLOSE PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STRATTON CLOSE PROPERTIES LIMITED
REGISTERED NUMBER: 01602280

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,535
4,713

Investment property
 6 
300,000
300,000

  
303,535
304,713

Current assets
  

Debtors: amounts falling due within one year
 7 
112,622
111,444

Net current assets
  
 
 
112,622
 
 
111,444

Total assets less current liabilities
  
416,157
416,157

Provisions for liabilities
  

Deferred tax
 8 
(75,000)
(75,000)

  
 
 
(75,000)
 
 
(75,000)

Net assets
  
341,157
341,157


Capital and reserves
  

Called up share capital 
 9 
103
103

Other reserves
  
225,000
225,000

Profit and loss account
  
116,054
116,054

  
341,157
341,157


Page 1

 
STRATTON CLOSE PROPERTIES LIMITED
REGISTERED NUMBER: 01602280
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 September 2024.




M. Patwa
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
STRATTON CLOSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Stratton Close Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 01602280. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover  is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover  is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss Account.

Page 3

 
STRATTON CLOSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets
1,178
1,571


4.


Employees

In addition to the directors, the company has 1 (2022: 2) employees. The costs of these employees are borne by the service charge fund and there is no cost to the company.

Page 4

 
STRATTON CLOSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
17,393



At 31 December 2023

17,393



Depreciation


At 1 January 2023
12,680


Charge for the year on owned assets
1,178



At 31 December 2023

13,858



Net book value



At 31 December 2023
3,535



At 31 December 2022
4,713


6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
300,000



At 31 December 2023
300,000

The 2023 valuations were made by the directors, on an open market value basis.






7.


Debtors

2023
2022
£
£

Page 5

 
STRATTON CLOSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.Debtors (continued)


Other debtors
112,622
111,444



8.


Deferred taxation




2023


£






At beginning of year
(75,000)



At end of year
(75,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Deferred tax on fair value movement on investment property
(75,000)
(75,000)

(75,000)
(75,000)

Page 6

 
STRATTON CLOSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



103 (2022 - 103) Ordinary shares of £1.00 each
103
103



10.


Related party transactions

Included in other debtors is a balance of £112,622 (2022: £111,444) due from Stratton Close Service Charge Fund in which the shareholders have a material interest.

 
Page 7