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REGISTERED NUMBER: 05488107 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SMALL AREA LIMITED

SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMALL AREA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M P Clayton
Mrs E Clayton





REGISTERED OFFICE: Norwood House
High Casterton
Carnforth
Cumbria
LA6 2SD





REGISTERED NUMBER: 05488107 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,922 7,491
Investment property 5 702,386 -
721,308 7,491

CURRENT ASSETS
Debtors 6 1,046,282 945,720
Investments 7 52,483 52,483
Cash at bank 689,738 1,726,688
1,788,503 2,724,891
CREDITORS
Amounts falling due within one year 8 (36,867 ) (133,872 )
NET CURRENT ASSETS 1,751,636 2,591,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,472,944

2,598,510

CREDITORS
Amounts falling due after more than
one year

9

(19,167

)

(50,815

)
NET ASSETS 2,453,777 2,547,695

SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 2,452,777 2,546,695
SHAREHOLDERS' FUNDS 2,453,777 2,547,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 21 January 2025 and were signed on its behalf by:





M P Clayton - Director


SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Small Area 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery : 25% on cost
Motor Vehicles : 25% on reducing balance


Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.


SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 39,950
Additions 25,231
At 31 March 2024 65,181
DEPRECIATION
At 1 April 2023 32,459
Charge for year 13,800
At 31 March 2024 46,259
NET BOOK VALUE
At 31 March 2024 18,922
At 31 March 2023 7,491

SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 39,950
DEPRECIATION
At 1 April 2023 32,459
Charge for year 7,491
At 31 March 2024 39,950
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 7,491

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 702,386
At 31 March 2024 702,386
NET BOOK VALUE
At 31 March 2024 702,386

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,046,282 945,720

Other Debtors includes an amount of £73,618 (2023:: £24,800) owed by the director Mr M Clayton.

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 52,483 52,483

SMALL AREA LIMITED (REGISTERED NUMBER: 05488107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,167 9,167
Finance leases 21,648 2,910
Taxation and social security 2,341 118,345
Other creditors 3,711 3,450
36,867 133,872

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 19,167 29,167
Finance leases - 21,648
19,167 50,815

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 28,334 38,334

Barclays Bank Plc has a fixed and floating charge over the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RELATED PARTY DISCLOSURES

At 31 March 2024. Small Area France, a french company controlled by Mr MP and Mrs E Clayton, owed Small Area Limited £941,699 (2023: £910,220)

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr MP and Mrs E Clayton.