REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 August 2024 |
for |
Strada Holdings Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 August 2024 |
for |
Strada Holdings Ltd |
Strada Holdings Ltd (Registered number: SC672550) |
Contents of the Financial Statements |
for the Year Ended 30 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Strada Holdings Ltd |
Company Information |
for the Year Ended 30 August 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
KA9 2PB |
Strada Holdings Ltd (Registered number: SC672550) |
Balance Sheet |
30 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Strada Holdings Ltd (Registered number: SC672550) |
Notes to the Financial Statements |
for the Year Ended 30 August 2024 |
1. | STATUTORY INFORMATION |
Strada Holdings Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
After reviewing the company's current and future trading performance, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis in preparing the company's financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Income/revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Income is presented, net of value-added tax, rebates and discounts and represents rent amounts due under the current lease. |
The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met. Turnover represents rental income measured on the above basis. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. Impairment review is carried out regularly. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Strada Holdings Ltd (Registered number: SC672550) |
Notes to the Financial Statements - continued |
for the Year Ended 30 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. |
The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities: |
Loans and other receivables |
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. |
Other financial liabilities |
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. |
Impairment of financial instruments |
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Strada Holdings Ltd (Registered number: SC672550) |
Notes to the Financial Statements - continued |
for the Year Ended 30 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease. |
Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor. |
All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 31 August 2023 |
and 30 August 2024 |
NET BOOK VALUE |
At 30 August 2024 |
At 30 August 2023 |
Fixed asset investments comprise |
100% share capital of Strada Properties Ltd |
100% share capital of Strada Environmental Ltd |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 August 2023 |
Additions |
At 30 August 2024 |
NET BOOK VALUE |
At 30 August 2024 |
At 30 August 2023 |
The fair value of investment property has been determined from market based evidence and in conjunction with advice provided from professional qualified valuers. |
Strada Holdings Ltd (Registered number: SC672550) |
Notes to the Financial Statements - continued |
for the Year Ended 30 August 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
8. | RELATED PARTY DISCLOSURES |
The company operates a loan account with the director. |
During the year, the director advanced loans totalling £1,610 to the company. At the year end, the balance due to the director was £3,059 (2023: £1,449). This loan is unsecured, interest free and has no fixed repayment terms. |
9. | CONTROLLING PARTY |
The controlling party is Andrew James Gray. |