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COMPANY REGISTRATION NUMBER: 05712871
Little Stow Ltd
Filleted Unaudited Financial Statements
For the year ended
28 February 2024
Little Stow Ltd
Financial Statements
Year ended 28 February 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Little Stow Ltd
Officers and Professional Advisers
DIRECTOR
I Ezekiel
REGISTERED OFFICE
Ecen Suite 43
Enterprise Centre, Warth Park
Michael Way
Raunds
Northants
NN9 6GR
ACCOUNTANTS
Streets
Chartered accountants
ECEN
Michael Way
Warth Park
Northamptonshire
NN9 6GR
Little Stow Ltd
Statement of Financial Position
28 February 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
499,150
499,150
Current assets
Debtors
5
155,000
125,000
Cash at bank and in hand
34,633
24,547
---------
---------
189,633
149,547
Creditors: amounts falling due within one year
6
452,210
430,999
---------
---------
Net current liabilities
262,577
281,452
---------
---------
Total assets less current liabilities
236,573
217,698
Creditors: amounts falling due after more than one year
7
403,054
405,743
---------
---------
Net liabilities
( 166,481)
( 188,045)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 166,581)
( 188,145)
---------
---------
Shareholders deficit
( 166,481)
( 188,045)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Little Stow Ltd
Statement of Financial Position (continued)
28 February 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
I Ezekiel
Director
Company registration number: 05712871
Little Stow Ltd
Notes to the Financial Statements
Year ended 28 February 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 Ecen Suite 43, Enterprise Centre, Warth Park, Michael Way, Raunds, Northants, NN9 6GR.
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.
Going concern
At the reporting date, the entity has net liabilities in the sum of £166,481. The company is reliant on support by directors who have directors' loans of £224,925 and bank loans from Foundation Home Loans of £358,245 which are disclosed within 'Creditors: Amounts falling due after more than one year' respectively. On the basis that the directors and Foundation Home Loans will continue to support the entity of the foreseeable future, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of either the directors or Foundation Home Loans.
Revenue recognition
Turnover Represents rent receivable from tenants under contractual obligations which are performed gradually over time.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4. Investments
Investment properties
£
Cost
At 1 March 2023 and 28 February 2024
499,150
---------
Impairment
At 1 March 2023 and 28 February 2024
---------
Carrying amount
At 28 February 2024
499,150
---------
At 28 February 2023
499,150
---------
5. Debtors
2024
2023
£
£
Other debtors
155,000
125,000
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
452,210
430,999
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
403,054
405,743
---------
---------
Paratus AMC Limited hold a charge of the investment property dated 10 November 2021. Secured liabilities included with creditors amounts to £358,245 (2023 £358,245).