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Registration number: 14695853

Storm Property Maintenance Limited

Unaudited Financial Statements

for the Period from 28 February 2023 to 29 February 2024

 

Storm Property Maintenance Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Storm Property Maintenance Limited

Company Information

Director

Mr Andrew Thomas Page

Registered office

18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ

 

Storm Property Maintenance Limited

(Registration number: 14695853)
Balance Sheet as at 29 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

8,633

Current assets

 

Debtors

5

4,381

Cash at bank and in hand

 

3,379

 

7,760

Creditors: Amounts falling due within one year

6

(13,507)

Net current liabilities

 

(5,747)

Total assets less current liabilities

 

2,886

Provisions for liabilities

(716)

Net assets

 

2,170

Capital and reserves

 

Called up share capital

1

Retained earnings

2,169

Shareholders' funds

 

2,170

For the financial period ending 29 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr Andrew Thomas Page
Director

 

Storm Property Maintenance Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales. .

The address of its registered office is:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ
United Kingdom

These financial statements were authorised for issue by the director on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date, the company had net current liabilities of £5,747 and retained earnings of £2,169. The directors have pledged to continue to financially suppport the company for the following 12 months. On this basis, the directors feel it appropriate to prepare these financial statements on a going concern basis.

 

Storm Property Maintenance Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 29 February 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Motor vehicles

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Storm Property Maintenance Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed for bad debts on an annual basis. Any adjustment is made accordingly
through the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Storm Property Maintenance Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 29 February 2024

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

Additions

5,500

4,045

9,545

At 29 February 2024

5,500

4,045

9,545

Depreciation

Charge for the period

454

458

912

At 29 February 2024

454

458

912

Carrying amount

At 29 February 2024

5,046

3,587

8,633

5

Debtors

Current

2024
£

Trade debtors

2,104

Prepayments

1,604

Other debtors

673

 

4,381

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

1,711

Accruals and deferred income

2,565

Other creditors

9,231

13,507

 

Storm Property Maintenance Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary share of £1 each

1

1

     

During the year, 1 Ordinary Share was issued at par value.

8

Dividends

   

2024

   

£

Interim dividend of £1,000 per ordinary share

 

1,000

     

9

Related party transactions

Transactions with the director

2024

At 28 February 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr Andrew Thomas Page

-

4,418

(13,650)

(9,232)

         
       

 

This loan is provided interest free and is repayable on demand.

10

Ultimate controlling party

The ultimate controlling party is Mr. Andrew Page, by virtue of his shareholding.