Company Registration No. 11118207 (England and Wales)
St Clements Lakes 361 Limited
Unaudited accounts
for the year ended 31 December 2024
St Clements Lakes 361 Limited
Unaudited accounts
Contents
St Clements Lakes 361 Limited
Company Information
for the year ended 31 December 2024
Director
Jagjit Singh Johal
Company Number
11118207 (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 361 Limited
Statement of financial position
as at 31 December 2024
Investment property
515,000
500,000
Cash at bank and in hand
3,799
6,436
Creditors: amounts falling due within one year
(138,302)
(135,034)
Net current liabilities
(132,709)
(116,871)
Total assets less current liabilities
382,291
383,129
Creditors: amounts falling due after more than one year
(318,871)
(318,647)
Provisions for liabilities
Deferred tax
(16,782)
(16,084)
Called up share capital
1
1
Profit and loss account
46,637
48,397
Shareholders' funds
46,638
48,398
For the year ending 31 December 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 4 February 2025 and were signed on its behalf by
Jagjit Singh Johal
Director
Company Registration No. 11118207
St Clements Lakes 361 Limited
Notes to the Accounts
for the year ended 31 December 2024
St Clements Lakes 361 Limited is a private company, limited by shares, registered in England and Wales, registration number 11118207. 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 are recognised in the income statement. Deferred taxation is provided on these gains 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 January 2024
500,000
Net gain from fair value adjustments
15,000
At 31 December 2024
515,000
Valuation of properties is based on director valuations.
St Clements Lakes 361 Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Accrued income and prepayments
1,794
339
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
135,894
132,504
In the accounts for the year ended 31 December 2023, £17,789 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 31 December 2023 have been restated.
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
318,871
318,647
Aggregate of amounts that fall due for payment after five years
318,871
318,647
The bank loans (mortgage) are secured against the value of the investment property.
In the accounts for the year ended 31 December 2023, the whole amount in relation to bank loans (mortgage), being £318,647 should have been included in the aggregate of amounts that fall due for payment after five years. Instead the amounts were incorrectly split as £17,789 falling due within one year and £300,858 falling due after more than one year, with £229,702 falling due after five years. The amounts as at 31 December 2023 have been restated.
8
Deferred taxation
2024
2023
Revaluation of investment property
19,903
16,153
Tax losses carried forward
(3,121)
(69)
Provision at start of year
16,084
11,906
Charged to the profit and loss account
698
4,178
Provision at end of year
16,782
16,084
St Clements Lakes 361 Limited
Notes to the Accounts
for the year ended 31 December 2024
9
Transactions with related parties
As at 31 December 2024, amounts owed to directors totalled £135,894 (2023: £132,504).
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).