Company registration number 13798185 (England and Wales)
Stretton Beeston Limited
Unaudited financial statements
For the year ended 31 May 2024
Stretton Beeston Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Stretton Beeston Limited
Balance sheet
As at 31 May 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
40,377,256
1,328,500
Debtors
3
480,367
51,999
Cash at bank and in hand
84,513
59,913
40,942,136
1,440,412
Creditors: amounts falling due within one year
4
(10,566,707)
(1,551,615)
Net current assets/(liabilities)
30,375,429
(111,203)
Creditors: amounts falling due after more than one year
5
(31,500,000)
-
0
Net liabilities
(1,124,571)
(111,203)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(1,124,671)
(111,303)
Total equity
(1,124,571)
(111,203)

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 12 November 2024 and are signed on its behalf by:
Mr E C Chantler
Director
Company registration number 13798185 (England and Wales)
Stretton Beeston Limited
Notes to the financial statements
For the year ended 31 May 2024
- 2 -
1
Accounting policies
Company information

Stretton Beeston 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.

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
Going concern

The company meets its day to day working capital requirements through funding by entities controlled by the directors, and for this reason the directors have prepared the accounts on the going concern basis.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Stretton Beeston Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
105,867
14,861
Deferred tax asset
374,500
37,138
480,367
51,999
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
64,156
30,585
Other creditors
10,502,551
1,521,030
10,566,707
1,551,615
Stretton Beeston Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 4 -
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,000,000
-
0
Trade creditors
22,500,000
-
0
31,500,000
-
0

The bank loans are secured by a legal charge over the land in work in progress, a debenture and a personal guarantee by Mr S Chantler (director).

 

Long term trade creditors are secured over the land held in work in progress.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary A shares of £1 each
51
51
51
51
Ordinary B shares of £1 each
9
9
9
9
Ordinary C shares of £1 each
40
40
40
40
100
100
100
100
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Admin costs
Interest payable
2024
2023
2024
2023
£
£
£
£
Entities controlled by the directors
17,591
3,840
784,738
103,395
2024
2023
Amounts due to related parties
£
£
Entities controlled by the directors
10,420,554
1,513,789
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