Registered number
10596932
Styal Investments Limited
Filleted Accounts
for the year ended 29 February 2024
Styal Investments Limited
Registered number: 10596932
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 703,035 719,076
Current assets
Debtors 3 15,000 19,792
Cash at bank and in hand 94,214 25,328
109,214 45,120
Creditors: amounts falling due within one year 4 (636,423) (612,750)
Net current liabilities (527,209) (567,630)
Total assets less current liabilities 175,826 151,446
Creditors: amounts falling due after more than one year 5 (13,283) (14,904)
Net assets 162,543 136,542
Capital and reserves
Called up share capital 1 1
Profit and loss account 162,542 136,541
Shareholder's funds 162,543 136,542
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Asim Asghar
Director
Approved by the board on 14 October 2024
Styal Investments Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of refunds. Turnover includes rent receivab from the investment properties. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Employees 2024 2023
Number Number
Average number of persons employed by the company - -
2 Tangible fixed assets
Freehold properties Motor vehicles Total
£ £ £
Cost
At 1 March 2023 654,912 85,552 740,464
At 29 February 2024 654,912 85,552 740,464
Depreciation
At 1 March 2023 - 21,388 21,388
Charge for the year - 16,041 16,041
At 29 February 2024 - 37,429 37,429
Net book value
At 29 February 2024 654,912 48,123 703,035
At 28 February 2023 654,912 64,164 719,076
3 Debtors 2024 2023
£ £
Other debtors 15,000 19,792
4 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' current account 632,009 607,813
Accruals and deferred income 634 613
Other creditors 3,780 4,324
636,423 612,750
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,283 14,904
6 Other information
Styal Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
2A Stanneylands Road
Wilmslow
Cheshire
SK9 4EJ
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