Registered number
04328566
Steggles Property Limited
Unaudited Filleted Accounts
30 April 2024
Steggles Property Limited
Registered number: 04328566
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,439,951 2,458,270
Current assets
Debtors 4 - 2,730
Cash at bank and in hand 10,471 12,739
10,471 15,469
Creditors: amounts falling due within one year 5 (469,956) (453,455)
Net current liabilities (459,485) (437,986)
Total assets less current liabilities 1,980,466 2,020,284
Creditors: amounts falling due after more than one year 6 (1,291,754) (1,327,180)
Provisions for liabilities (39,500) (39,500)
Net assets 649,212 653,604
Capital and reserves
Called up share capital 20 20
Fair value reserve 605,795 605,795
Profit and loss account 43,397 47,789
Shareholders' funds 649,212 653,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Steggles
Director
Approved by the board on 31 December 2024
Steggles Property Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises rents receivable from the letting of company properties, such income recognised as arising.
Tangible fixed assets / fair value reserve
Tangible fixed assets are comprised substantively of investment properties which are held to earn both rental income and capital appreciation. These properties are not subject to depreciation but, instead, an annual review of their market valuation. Deferred taxation is recognised on the excess of valuation over cost and the net amount is disclosed within the fair value reserve, separately from retained profits as the valuation gains are unrealised and therefore non-distributible.
Taxation
Taxation balances are recognised where a) a current tax liability (or asset) exists in respect of tax payable (or recoverable) on the taxable profit of the current and past periods, and b) a deferred tax liability exists in respect of either timing differences between the recognition of income and expenses in the accounts and their assessment for taxation purposes or increased valuation of tangible fixed assets.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 2,385,000 4,600 73,010 2,462,610
At 30 April 2024 2,385,000 4,600 73,010 2,462,610
Depreciation
At 1 May 2023 - 2,840 1,500 4,340
Charge for the year - 441 17,878 18,319
At 30 April 2024 - 3,281 19,378 22,659
Net book value
At 30 April 2024 2,385,000 1,319 53,632 2,439,951
At 30 April 2023 2,385,000 1,760 71,510 2,458,270
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,739,705 1,739,705
Cumulative depreciation based on historical cost - -
1,739,705 1,739,705
Investment properties were revalued in 2020. It is not considered practicable to calculate a notional depreciation figure based on historical cost.
4 Debtors 2024 2023
£ £
Sundry debtors - 2,730
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,660 38,983
Obligations under finance lease and hire purchase contracts 9,653 8,200
Loan from directors 375,659 350,444
Other creditors 43,984 55,828
469,956 453,455
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,244,021 1,269,794
Obligations under finance lease and hire purchase contracts 47,733 57,386
1,291,754 1,327,180
7 Creditors 2024 2023
£ £
Creditors include:
Secured bank and hire purchase loans 1,284,681 1,374,363
Loans are secured upon company assets.

The bank facility has been calculated / allocated for the purpose of these accounts on the basis of a 25 year repayment period. This facility is, however, subject to re-negotiation with the company's bankers in 2025 and the balance of the loan at that point in time may become subject to repayment upon demand.
8 Related party transactions
The directors have lent money to the company interest-free and without other terms attaching. The amounts owed to the directors at the balance sheet dates are disclosed within Creditors.

9 Other information
Steggles Property Limited is a private company limited by shares and incorporated in England and Wales. The company is controlled by the directors where acting jointly and its registered office is situated at Cedar Hall, The Green, Gresford, Wrexham, LL12 8RG.
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