REGISTERED NUMBER: |
STUDENT FACILITY MANAGEMENT LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
STUDENT FACILITY MANAGEMENT LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STUDENT FACILITY MANAGEMENT LIMITED |
COMPANY INFORMATION |
for the year ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
BALANCE SHEET |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
BALANCE SHEET - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Student Facility Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced sales of service charges, letting management and recharges of costs i.e salaries, net of VAT. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Government grants |
Government grants represent apprenticeship grants and are shown in full in the year which they were received. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at transaction price including transaction costs. |
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss. |
Financial liabilities are classified depending on the substance of the contractual arrangements entered into. |
Basic financial liabilities, including trade and other creditors, bank loans, finance leases, accruals, are initially recognised at transaction price. |
Debt instruments are subsequently measured at amortised cost using the effective interest method. |
Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire. |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured against a government backed initiative. |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 1,217 | 1,229 |
Deferred |
tax |
£ |
Balance at 1 February 2023 |
Provided during year | ( |
) |
Balance at 31 January 2024 |
STUDENT FACILITY MANAGEMENT LIMITED (REGISTERED NUMBER: 06052955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
10. | RELATED PARTY DISCLOSURES |
Included within creditors is a loan of £990 (2023 £Nil) owing to the director, by way of director's loan account. No interest is charged on the outstanding amount. |
Purchase invoices for management fees and rent amounting to £326,705 gross (2023 £339,626), were invoiced in the financial year from EGT Development Services Ltd this is a company in which the directors have shareholdings and also directorship. |
Purchase invoices for management fees amounting £9,420 gross (2023 £35,304), were invoiced in the financial year from Ratefield Ltd, this is a company in which one of the directors has a directorship and has significant control over the company. |
Sales invoices were issued in the period to Q3 Apartments Ltd, The Warehouse Preston Limited, and Q4 Apartments Ltd, two of the directors have a directorship and own shares in these companies. These transactions were conducted under normal market conditions. |