Company Registration No. 10504646 (England and Wales)
St Clements Lakes 297 Limited
Unaudited accounts
for the year ended 30 November 2024
St Clements Lakes 297 Limited
Unaudited accounts
Contents
St Clements Lakes 297 Limited
Company Information
for the year ended 30 November 2024
Director
Jagjit Singh Johal
Company Number
10504646 (England and Wales)
Registered Office
The Whinnies, Church Road
Hartley
Longfield
DA3 8DJ
United Kingdom
Accountants
Workabee Accountants
Sharon Gillett BSc FCA
11 Chestnut Avenue
Buckhurst Hill
Essex
IG9 6EN
St Clements Lakes 297 Limited
Statement of financial position
as at 30 November 2024
Investment property
500,000
495,000
Cash at bank and in hand
16,368
14,979
Creditors: amounts falling due within one year
(115,327)
(118,740)
Net current liabilities
(84,323)
(89,149)
Total assets less current liabilities
415,677
405,851
Creditors: amounts falling due after more than one year
(323,757)
(319,722)
Provisions for liabilities
Deferred tax
(19,622)
(18,372)
Called up share capital
1
1
Profit and loss account
72,297
67,756
Shareholders' funds
72,298
67,757
For the year ending 30 November 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 January 2025 and were signed on its behalf by
Jagjit Singh Johal
Director
Company Registration No. 10504646
St Clements Lakes 297 Limited
Notes to the Accounts
for the year ended 30 November 2024
St Clements Lakes 297 Limited is a private company, limited by shares, registered in England and Wales, registration number 10504646. The registered office is The Whinnies, Church Road, Hartley, Longfield, DA3 8DJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises of rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains and losses at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost.
Fair value at 1 December 2023
495,000
Net gain from fair value adjustments
5,000
At 30 November 2024
500,000
Valuation of properties is based on director valuations.
St Clements Lakes 297 Limited
Notes to the Accounts
for the year ended 30 November 2024
Amounts falling due within one year
Accrued income and prepayments
448
424
Other debtors
14,188
14,188
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
207
699
Other creditors
2,730
5,701
Loans from directors
110,380
110,380
Deferred income
1,800
1,750
In the accounts for the year ended 30 November 2023, £10,614 in relation to bank loans (mortgage) was incorrectly classified as an amount falling due within one year. The whole of the mortgage creditor should have been classified as falling due for payment after five years. The amounts as at 30 November 2023 have been restated.
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
323,757
319,722
Aggregate of amounts that fall due for payment after five years
323,757
319,722
The bank loans (mortgage) are secured against the value of the investment property.
In the accounts for the year ended 30 November 2023, the whole amount in relation to bank loans (mortgage), being £319,722 should have been included in the aggregate of amounts that fall due for payment after five years. Instead the amounts were incorrectly split as £10,614 falling due within one year, £309,108 falling due after more than one year with £266,652 falling due after five years. The amounts as at 30 November 2023 have been restated.
8
Deferred taxation
2024
2023
Revaluation of investment property
19,622
18,372
Provision at start of year
18,372
15,724
Charged to the profit and loss account
1,250
2,648
Provision at end of year
19,622
18,372
St Clements Lakes 297 Limited
Notes to the Accounts
for the year ended 30 November 2024
9
Transactions with related parties
As at 30 November 2024, amounts owed to directors totalled £110,380 (2023: £110,380).
No interest is charged on money owed and the amounts are repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).