0 false false false false false false false false false false true false false false false true false 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 19,533 19,533 19,533 xbrli:pure xbrli:shares iso4217:GBP 13989712 2023-04-01 2024-03-31 13989712 2024-03-31 13989712 2023-03-31 13989712 2022-03-19 2023-03-31 13989712 2023-03-31 13989712 2022-03-18 13989712 bus:Director1 2023-04-01 2024-03-31 13989712 bus:Director2 2023-04-01 2024-03-31 13989712 core:WithinOneYear 2024-03-31 13989712 core:WithinOneYear 2023-03-31 13989712 core:AfterOneYear 2024-03-31 13989712 core:AfterOneYear 2023-03-31 13989712 core:ShareCapital 2024-03-31 13989712 core:ShareCapital 2023-03-31 13989712 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 13989712 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13989712 bus:SmallEntities 2023-04-01 2024-03-31 13989712 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13989712 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13989712 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13989712 bus:FullAccounts 2023-04-01 2024-03-31 13989712 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 13989712
South Street Residents Company Limited
Filleted Unaudited Financial Statements
31 March 2024
South Street Residents Company Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
19,533
19,533
Current assets
Cash at bank and in hand
3,800
2,820
Creditors: amounts falling due within one year
5
1,861
724
-------
-------
Net current assets
1,939
2,096
--------
--------
Total assets less current liabilities
21,472
21,629
Creditors: amounts falling due after more than one year
6
21,470
21,627
--------
--------
Net assets
2
2
--------
--------
Capital and reserves
Called up share capital
2
2
----
----
Shareholders funds
2
2
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 October 2024 , and are signed on behalf of the board by:
Mrs Z Becsy
Mrs M Norrington-Davies
Director
Director
Company registration number: 13989712
South Street Residents Company Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The House, South Street, Wilton, SP2 0JS, Wiltshire. The Company was incorporated to facilitate the purchase of the freehold owned jointly by the lessees. No ground rent is charged, utilities, insurance & general maintence is aportioned per property.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
No cash flow statement has been presented for the company.
Tangible assets
The Freehold is recoreded at cost and not subject to depreciation.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property
£
Cost
At 1 April 2023 and 31 March 2024
19,533
--------
Depreciation
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
19,533
--------
At 31 March 2023
19,533
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4
Other creditors
1,861
720
-------
----
1,861
724
-------
----
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
21,470
21,627
--------
--------
Within creditors the balance of £ 21,530 relates to loans for the purchase of the Freeehold and is split as follows: - Mrs Becsy £5,382 Mrs Norrington-Davis £5,382 Mr S James £5,383 Mrs P Swinstead £5,383