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Registration number: 10884421

152 Staplehurst Road Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

152 Staplehurst Road Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

152 Staplehurst Road Limited

Company Information

Directors

J R C Boucher

R E Bonner

Company secretary

S Chawner

Registered office

150 Staplehurst Road,
Sittingbourne
Kent
ME10 1XS

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

152 Staplehurst Road Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,250,000

1,250,000

Current assets

 

Debtors

5

152,977

72,909

Cash at bank and in hand

 

251,397

264,268

 

404,374

337,177

Creditors: Amounts falling due within one year

6

(1,420,976)

(1,420,320)

Net current liabilities

 

(1,016,602)

(1,083,143)

Net assets

 

233,398

166,857

Capital and reserves

 

Called up share capital

1

1

Retained earnings

233,397

166,856

Shareholders' funds

 

233,398

166,857

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................

J R C Boucher

Director

Company registration number: 10884421

 

152 Staplehurst Road Limited

Notes to the Unaudited Financial Statements for the Year Ended 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:
150 Staplehurst Road,
Sittingbourne
Kent
ME10 1XS

The principal activity of the company is that of the investment letting and management of commercial property.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date amounting to £233,398 including cash at bank of £251,397.

Having made enquiries the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

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. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises rental and service charge income evenly over the period of the lease or licence and lease renewal premiums on contractual completion.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.

 

152 Staplehurst Road Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

4

Investment properties

Fair value

2024
£

At 1 April 2023

1,250,000

At 31 March 2024

1,250,000

The investment property is included at fair value as estimated by the directors at 31 March 2024 at an amount of £1,250,000.

5

Debtors

2024
£

2023
£

Trade debtors

39,676

41,656

Other debtors

113,301

31,253

152,977

72,909

 

152 Staplehurst Road Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Amounts owed to group undertakings

1,399,000

1,399,000

Taxation and social security

18,979

19,110

Other creditors

2,997

2,210

1,420,976

1,420,320

7

Related party transactions

Exemption has been taken under FRS 102 Paragraph 1AC.35 not to disclose transactions or amounts falling due with companies that are wholly owned within the group.