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Registered number: 03660670
St Aldates Properties Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03660670
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 1,600,000 1,600,000
1,600,000 1,600,000
CURRENT ASSETS
Debtors 6 3,587 2,763
Cash at bank and in hand 234,403 182,092
237,990 184,855
Creditors: Amounts Falling Due Within One Year 7 (702,605 ) (648,687 )
NET CURRENT ASSETS (LIABILITIES) (464,615 ) (463,832 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,135,385 1,136,168
Creditors: Amounts Falling Due After More Than One Year 8 (450,000 ) (450,000 )
NET ASSETS 685,385 686,168
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 303,194 303,194
Profit and Loss Account 382,091 382,874
SHAREHOLDERS' FUNDS 685,385 686,168
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Cleaver
Director
12 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
St Aldates Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03660670 . The registered office is North Lodge Hawkesyard, Armitage Lane, Rugeley, Staffordshire, WS15 1PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% on cost
Computer Equipment 33% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 18,471 3,361 21,832
As at 31 August 2024 18,471 3,361 21,832
Depreciation
As at 1 September 2023 18,471 3,361 21,832
As at 31 August 2024 18,471 3,361 21,832
Net Book Value
As at 31 August 2024 - - -
As at 1 September 2023 - - -
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5. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 1,600,000
The director believes that the valuation of the property is not materially different to the amount shown in the accounts.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,099 2,463
Prepayments and accrued income 1,235 -
Other debtors 1,253 300
3,587 2,763
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 10,018 5,745
Other creditors 151,648 1,648
Accruals and deferred income 35,245 16,600
Director's loan account 460,132 610,132
Amounts owed to parent company 45,562 14,562
702,605 648,687
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 450,000 450,000
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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10. Reserves
Revaluation Reserve
£
As at 1 September 2023 303,194
As at 31 August 2024 303,194
11. Related Party Transactions
CTH Limited
A company under common control.
At the balance sheet date there is a loan payable to this related party of £1,648 (2023: £1,648). 
This loan is interest free and repayable upon demand.
St Aldates Investments Limited
Parent company
At the balance sheet date there is a loan payable to this related party of £45,562 (2023: £14,562).
This loan is interest free and repayable upon demand.
CTH Awards Limited
A company under common control.
At the balance sheet date there is a loan payable to this related party of £150,000 (2023: £0)
This loan is interest free and repayable upon demand.
Mr B Cleaver
A relative of Mr S Cleaver
During the year Mr B Cleaver received interest of £18,000 (2023: £18,000) on the £450,000 loan made to the company.
12. Ultimate Parent Undertaking and Controlling Party
St Aldates Investments Limited owns 100% of the company share capital. This company is incorporated in England and the company's registered office is North Lodge, Hawkesyard, Armitage Lane, Rugeley, Staffordshire, WS15 1PS.
The ultimate controlling party of St Aldates Investments Limited is Mr S J Cleaver.
13. Working capital deficit
Current liabilities exceed current assets, however, the company is able to meet its liabilities as they fall due.
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