Company registration number 04518435 (England and Wales)
Stretton Wakefield Limited
Unaudited financial statements
For the year ended 31 May 2024
Stretton Wakefield Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Stretton Wakefield Limited
Balance sheet
As at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,355,560
1,665,089
Debtors
3
473,213
449,149
Cash at bank and in hand
97,099
49,489
1,925,872
2,163,727
Creditors: amounts falling due within one year
4
(87,752)
(47,763)
Net current assets
1,838,120
2,115,964
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
1,838,118
2,115,962
Total equity
1,838,120
2,115,964
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 November 2024 and are signed on its behalf by:
Mr S Chantler
Director
Company registration number 04518435 (England and Wales)
Stretton Wakefield Limited
Notes to the financial statements
For the year ended 31 May 2024
- 2 -
1
Accounting policies
Company information
Stretton Wakefield Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF. The business address is Stretton Hall Farm, Tilston, Malpas, Cheshire, SY14 7JA.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the sale of commercial property net of VAT.
1.3
Stocks
Stock is valued at the lower of cost and net realisable value.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Stretton Wakefield Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
22,778
241
Amounts owed by group undertakings
442,448
434,556
Other debtors
7,987
14,352
473,213
449,149
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,132
16,370
Amounts owed to group undertakings
137
Taxation and social security
49,868
6,523
Other creditors
36,752
24,733
87,752
47,763
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
200
200
2
2
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
7,219
16,688
Stretton Wakefield Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 4 -
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Services received
2024
2023
£
£
Other related parties
35,902
25,619
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due to related parties
£
£
Entities under common control
3
3
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities under common control
7,152
1,845