Registered number
08939607
Street London Limited
Unaudited Filleted Accounts
31 March 2024
Street London Limited
Registered number: 08939607
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 20,000
Tangible assets 4 57,079 64,626
57,079 84,626
Current assets
Debtors 5 131,121 160,078
Cash at bank and in hand 321,513 160,970
452,634 321,048
Creditors: amounts falling due within one year 6 (137,870) (108,882)
Net current assets 314,764 212,166
Net assets 371,843 296,792
Capital and reserves
Called up share capital 140 140
Profit and loss account 371,703 296,652
Shareholder's funds 371,843 296,792
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.
T Chapman
Director
Approved by the board on 18 November 2024
Street London Limited
Notes to the Accounts
for the year ended 31 March 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 discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery 25 % reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 200,000
At 31 March 2024 200,000
Amortisation
At 1 April 2023 180,000
Provided during the year 20,000
At 31 March 2024 200,000
Net book value
At 31 March 2024 -
At 31 March 2023 20,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 57,953 88,424 31,641 178,018
Additions - 1,366 - 1,366
At 31 March 2024 57,953 89,790 31,641 179,384
Depreciation
At 1 April 2023 17,388 71,871 24,133 113,392
Charge for the year 2,898 4,138 1,877 8,913
At 31 March 2024 20,286 76,009 26,010 122,305
Net book value
At 31 March 2024 37,667 13,781 5,631 57,079
At 31 March 2023 40,565 16,553 7,508 64,626
5 Debtors 2024 2023
£ £
Trade debtors 71,151 100,208
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,355 10,255
Other debtors 49,615 49,615
131,121 160,078
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 57,395 52,165
Taxation and social security costs 69,072 24,588
Other creditors 11,403 32,129
137,870 108,882
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 215,000 198,461
8 Controlling party
The immediate parent company is Street London Holdings Limited, a company incorporated in England & Wales.
9 Other information
Street London Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Dunston Street
London
E8 4EB
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