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COMPANY REGISTRATION NUMBER: 02846372
Strathfield Estates Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
Strathfield Estates Limited
Abridged Financial Statements
Year Ended 31 March 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Strathfield Estates Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed Assets
Investments
5
2,147,721
1,931,293
Current Assets
Debtors
9,626
9,581
Cash at bank and in hand
13,950
23,023
--------
--------
23,576
32,604
Creditors: amounts falling due within one year
77,098
84,745
--------
--------
Net Current Liabilities
53,522
52,141
------------
------------
Total Assets Less Current Liabilities
2,094,199
1,879,152
Creditors: amounts falling due after more than one year
189,500
207,500
Provisions
Taxation including deferred tax
143,297
143,297
------------
------------
Net Assets
1,761,402
1,528,355
------------
------------
Strathfield Estates Limited
Abridged Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and Reserves
Called up share capital
6
5,000
5,000
Profit and loss account
1,756,402
1,523,355
------------
------------
Shareholders Funds
1,761,402
1,528,355
------------
------------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr R Cutt
Ms E J Gallagher
Director
Director
Company registration number: 02846372
Strathfield Estates Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and the place of business is 54 Knifesmithsgate, Chesterfield, Derbyshire, S40 1RQ
2. Statement of compliance
These abridged 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 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. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A0 of the Companies Act 2006.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Any fixed asset investment carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.
An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Investments
£
Cost
At 1 April 2023
1,931,293
Revaluations
216,428
------------
At 31 March 2024
2,147,721
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
2,147,721
------------
At 31 March 2023
1,931,293
------------
6. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5,000
5,000
5,000
5,000
-------
-------
-------
-------
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5,000
5,000
5,000
5,000
-------
-------
-------
-------
7. Directors' advances, credits and guarantees
There are no directors advances, credits or guarantees requiring disclosure.