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REGISTERED NUMBER: 07788929 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STRING PROPERTIES LTD

STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STRING PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mr P M Brown
Mr J D Cahill





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Hiltons Wharf
28 Norman Road
Greenwich
SE10 9QX





REGISTERED NUMBER: 07788929 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 647 12,904
Investment property 5 3,640,436 3,640,436
3,641,083 3,653,340

CURRENT ASSETS
Debtors 6 141,879 490,840
Cash at bank 191,385 27,961
333,264 518,801
CREDITORS
Amounts falling due within one year 7 2,353,170 708,352
NET CURRENT LIABILITIES (2,019,906 ) (189,551 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,621,177

3,463,789

CREDITORS
Amounts falling due after more than one
year

8

-

(1,995,766

)

PROVISIONS FOR LIABILITIES (162 ) (2,780 )
NET ASSETS 1,621,015 1,465,243

CAPITAL AND RESERVES
Called up share capital 21 21
Retained earnings 1,620,994 1,465,222
SHAREHOLDERS' FUNDS 1,621,015 1,465,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:




Mr P M Brown - Director



Mr J D Cahill - Director


STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

String Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 3 years straight line and 5 years straight line
Motor vehicles - 3 years straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 223,616 42,725 - 266,341
Additions - - 863 863
Disposals (223,616 ) (42,725 ) - (266,341 )
At 31 December 2023 - - 863 863
DEPRECIATION
At 1 January 2023 210,712 42,725 - 253,437
Charge for year - - 216 216
Eliminated on disposal (210,712 ) (42,725 ) - (253,437 )
At 31 December 2023 - - 216 216
NET BOOK VALUE
At 31 December 2023 - - 647 647
At 31 December 2022 12,904 - - 12,904

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 3,640,436
NET BOOK VALUE
At 31 December 2023 3,640,436
At 31 December 2022 3,640,436

Investment property was valued on an open market basis by the directors at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,500 76,625
Other debtors 1,521 221,338
VAT - 93,462
Prepayments and accrued income 133,858 99,415
141,879 490,840

STRING PROPERTIES LTD (REGISTERED NUMBER: 07788929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 216,690
Trade creditors 6,625 32,188
Corporation tax 50,574 133,187
VAT 3,811 -
Other creditors 916,927 316,750
Director's loan account 1,366,141 -
Accruals and deferred income 9,092 9,537
2,353,170 708,352

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 650,070
Bank loans more than 5 years - 1,345,696
- 1,995,766

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years - 1,345,696

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 2,212,456

Loans are secured against the investment property held by the company by way of fixed charges, floating charges and negative pledges. .