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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
Page
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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
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St Clements Lakes 361 Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
515,000 
500,000 
Current assets
Debtors
1,794 
11,727 
Cash at bank and in hand
3,799 
6,436 
5,593 
18,163 
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)
Net assets
46,638 
48,398 
Capital and reserves
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
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St Clements Lakes 361 Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
Financial instruments
Basic financial instruments are recognised at amortised cost.
4
Investment property
2024 
£ 
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.
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St Clements Lakes 361 Limited Notes to the Accounts for the year ended 31 December 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,794 
339 
Other debtors
- 
11,388 
1,794 
11,727 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
595 
1,788 
Loans from directors
135,894 
132,504 
Accruals
210 
210 
Deferred income
1,603 
532 
138,302 
135,034 
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)
16,782 
16,084 
2024 
2023 
£ 
£ 
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 
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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).
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