Santon Asset Management Ltd |
Registered number: |
10737501 |
Statement of Financial Position |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Debtors |
4 |
|
8,870 |
|
|
17,685 |
Cash at bank and in hand |
|
|
11 |
|
|
96 |
|
|
|
8,881 |
|
|
17,781 |
|
Creditors: amounts falling due within one year |
5 |
|
(4,960) |
|
|
(8,519) |
|
Net current assets |
|
|
|
3,921 |
|
|
9,262 |
|
Total assets less current liabilities |
|
|
|
3,921 |
|
|
9,262 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(5,667) |
|
|
(9,667) |
|
Provisions for liabilities |
|
|
|
- |
|
|
(1,461) |
|
|
Net liabilities |
|
|
|
(1,746) |
|
|
(1,866) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Profit and loss account |
|
|
|
(2,746) |
|
|
(2,866) |
|
Shareholders' funds |
|
|
|
(1,746) |
|
|
(1,866) |
|
|
|
|
|
|
|
|
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 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. |
|
|
|
|
S Ellis |
Director |
Approved by the board on 28 January 2025 |
|
Santon Asset Management Ltd |
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 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland. |
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The director considers the company to be a going concern, notwithstanding that there are losses of £2,746. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy. |
|
|
Investment property |
|
Investment property is measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value/Impairment losses are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
2 |
Exceptional items |
2024 |
|
2023 |
£ |
£ |
|
|
Value adjustments on fixed assets and current asset investments |
- |
|
6,231 |
|
|
|
|
|
|
- |
|
6,231 |
|
|
|
|
|
|
|
|
|
|
3 |
Employees and directors |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of directors and persons employed by the company |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Prepayments |
- |
|
5,833 |
|
Other debtors |
8,870 |
|
11,852 |
|
|
|
|
|
|
8,870 |
|
17,685 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
4,000 |
|
4,000 |
|
Accruals |
960 |
|
4,519 |
|
|
|
|
|
|
4,960 |
|
8,519 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
5,667 |
|
9,667 |
|
|
|
|
|
|
|
|
|
|
7 |
Fair value reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 May 2023 |
- |
|
6,231 |
|
Loss on revaluation of land and buildings |
- |
|
(6,231) |
|
|
At 30 April 2024 |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
S Ellis |
|
Repayable on demand |
11,852 |
|
- |
|
2,982 |
|
8,870 |
|
|
|
11,852 |
|
- |
|
2,982 |
|
8,870 |
|
|
|
|
|
|
|
|
|
|
9 |
Other information |
|
|
Santon Asset Management Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Knowle Hall |
|
Kenilworth Road |
|
Knowle, Solihull |
|
West Midlands |
|
B93 0AB |