REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Sten Property Group Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Sten Property Group Limited |
Sten Property Group Limited (Registered number: 10618869) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Sten Property Group Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1 |
Liberty House |
South Liberty Lane |
Bristol |
BS3 2ST |
Sten Property Group Limited (Registered number: 10618869) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET (LIABILITIES)/ASSETS | ( |
) |
Sten Property Group Limited (Registered number: 10618869) |
Statement of Financial Position - continued |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Sten Property Group Limited (Registered number: 10618869) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Sten Property Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. The directors have confirmed their continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment properties are recorded at valuation. No depreciation is provided on freehold properties as such assets are not held for consumption, but as investments, and the properties are well maintained and externally valued on a regular open market basis. |
Any surplus or deficit arising on revaluing investment properties is recognised in the fair value reserve. Disposals are recognised on completion. Profits and losses arising are recognised through the profit and loss account; the profit on disposal is determined as the difference between the sales proceeds and the carrying amount of the asset at the commencement of the accounting period plus additions in the period. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Sten Property Group Limited (Registered number: 10618869) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Sten Property Group Limited (Registered number: 10618869) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Additions |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other creditors |
Sten Property Group Limited (Registered number: 10618869) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
29.2.24 | 28.2.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Molo Tech Mortgage | 329,634 | - |
Landbay Mortgage | 231,750 | - |
Paragon Mortgage | 473,879 | - |
Precise Mortgage | 270,016 | - |
Repayable by instalments |
Westone mortgage | - | 284,200 |
Paragon Bank Mortgage | - | 411,939 |
Precise Mortgage | - | 270,015 |
Kensington Mortgage | - | 151,999 |
- | 1,118,153 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
During the year the company entered into the following transactions with the directors: |
2024 | 2023 |
Management fees receivable | 2,160 | 2,160 |
Capital introduced/(withdrawn) | (216,734 | ) | 59,356 |
At the period end date the amount due to the director was £188,207 (2023 - £404,941) |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is E G Stenner. |