Company Registration No. 08801478 (England and Wales)
4 Stories Family Limited
Unaudited financial statements
for the year ended 31 March 2024
Pages for filing with the registrar
4 Stories Family Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
4 Stories Family Limited
Statement of financial position
As at 31 March 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
57,500
57,500
Current assets
Debtors
4
1,918
3,123
Cash at bank and in hand
844
18,803
2,762
21,926
Creditors: amounts falling due within one year
5
(68,055)
(69,380)
Net current liabilities
(65,293)
(47,454)
Net (liabilities)/assets
(7,793)
10,046
Capital and reserves
Called up share capital
6
1
1
Revaluation reserve
2,876
2,876
Profit and loss reserves
(10,670)
7,169
Total equity
(7,793)
10,046

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 7 October 2024.
Jeanne Work
Director
Company Registration No. 08801478
4 Stories Family Limited
Statement of changes in equity
For the year ended 31 March 2024
2
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2022
1
2,876
7,137
10,014
Period ended 31 March 2023:
Profit and total comprehensive income
-
-
32
32
Balance at 31 March 2023
1
2,876
7,169
10,046
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
(17,839)
(17,839)
Balance at 31 March 2024
1
2,876
(10,670)
(7,793)
4 Stories Family Limited
Notes to the financial statements
For the year ended 31 March 2024
3
1
Accounting policies
Company information

4 Stories Family Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 1-2, 17 Belgrave Place, London, SW1X 8BS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents amounts receivable for ground rents and service charges.
1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

4 Stories Family Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
4
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
57,500

Investment property comprises one freehold property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4 Stories Family Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
5
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,600
Other debtors
1,918
1,523
1,918
3,123
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
486
3,608
Other creditors
67,569
65,772
68,055
69,380
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1

The ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights, they do not confer any rights of redemption.

4 Stories Family Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
7
Related party transactions
Transactions with related parties

During the year sales of £6,400 (2023: £8,000) were made to 4 Stories Real Property LLP, a limited liability partnership of which the director is a designated member. Of these sales, £1,400 (2023: £1,750) was collected and held in a sinking fund within creditors. During the year £3,111 (2023: £2,336) of the total sinking fund was utilised. The sinking fund balance at the year end relating to 4 Stories Real Property LLP is £1,050 (2023: £2,411).

 

Included within other creditors are loans owing to the director at 31 March amounting to £61,199 (2023: £58,795). This loan is on an interest free basis without a specified repayment date.

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