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REGISTERED NUMBER: 09459639 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

Storeton Capital Limited

Storeton Capital Limited (Registered number: 09459639)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Storeton Capital Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr Luke Gareth Williams
Mrs Lucy Anne Williams





REGISTERED OFFICE: Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA





REGISTERED NUMBER: 09459639 (England and Wales)





ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA

Storeton Capital Limited (Registered number: 09459639)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,302 17,119
Investments 5 4,157,784 2,593,433
Investment property 6 1,015,000 609,684
5,184,086 3,220,236

CURRENT ASSETS
Debtors 7 253,683 127,705
Cash at bank 37,420 985,826
291,103 1,113,531
CREDITORS
Amounts falling due within one year 8 201,351 492,666
NET CURRENT ASSETS 89,752 620,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,273,838

3,841,101

PROVISIONS FOR LIABILITIES 169,350 4,280
NET ASSETS 5,104,488 3,836,821

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 284,539 132,181
Retained earnings 4,819,945 3,704,636
5,104,488 3,836,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Storeton Capital Limited (Registered number: 09459639)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr Luke Gareth Williams - Director


Storeton Capital Limited (Registered number: 09459639)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Storeton Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Storeton Capital Limited (Registered number: 09459639)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2023
and 29 February 2024 23,534
DEPRECIATION
At 1 March 2023 6,415
Charge for year 5,817
At 29 February 2024 12,232
NET BOOK VALUE
At 29 February 2024 11,302
At 28 February 2023 17,119

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 3 2,593,430 2,593,433
Additions - 1,238,403 1,238,403
Revaluations - 325,948 325,948
At 29 February 2024 3 4,157,781 4,157,784
NET BOOK VALUE
At 29 February 2024 3 4,157,781 4,157,784
At 28 February 2023 3 2,593,430 2,593,433

Cost or valuation at 29 February 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2022 - (4,533 ) (4,533 )
Valuation in 2023 - 466,313 466,313
Valuation in 2024 - 325,948 325,948
Cost 3 3,370,053 3,370,056
3 4,157,781 4,157,784

Storeton Capital Limited (Registered number: 09459639)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 609,684
Additions 864,398
Revaluations (459,082 )
At 29 February 2024 1,015,000
NET BOOK VALUE
At 29 February 2024 1,015,000
At 28 February 2023 609,684

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28 February 2022 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 (144,045 )
Valuation in 2024 405,316
Cost 753,729
1,015,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 253,683 127,705

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security (144 ) 10,180
Other creditors 201,495 482,486
201,351 492,666

9. RELATED PARTY DISCLOSURES

Included in other creditors is £201,495 (2023 - £482,486) which is owed to Mr & Mrs Williams , the directors and shareholders of the company. This loan is provided on an interest free basis and is repayable on demand.

The company has taken advantage of the exemption under FRS102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly-owned by such a member.