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REGISTERED NUMBER: 15282957 (England and Wales)















FINANCIAL STATEMENTS FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024

FOR

STOREY PROPERTY DEVELOPMENTS ASSETS LTD

STOREY PROPERTY DEVELOPMENTS ASSETS LTD (REGISTERED NUMBER: 15282957)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STOREY PROPERTY DEVELOPMENTS ASSETS LTD

COMPANY INFORMATION
FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024







DIRECTORS: M R Storey
M P Storey



SECRETARY: M P Storey



REGISTERED OFFICE: Argent House
5 Goldington Road
BEDFORD
Bedfordshire
MK40 3JY



REGISTERED NUMBER: 15282957 (England and Wales)



SENIOR STATUTORY AUDITOR: David Rawlinson FCA FCCA



AUDITORS: Rawlinson Pryde Limited
Chartered Accountants and
Statutory Auditors
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

STOREY PROPERTY DEVELOPMENTS ASSETS LTD (REGISTERED NUMBER: 15282957)

BALANCE SHEET
30 JUNE 2024

Notes £   
CURRENT ASSETS
Stocks 5 2,155,184
Debtors 6 2
2,155,186
CREDITORS
Amounts falling due within one year 7 2,161,831
NET CURRENT LIABILITIES (6,645 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,645

)

CAPITAL AND RESERVES
Called up share capital 8 2
Retained earnings 9 (6,647 )
SHAREHOLDERS' FUNDS (6,645 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





M R Storey - Director


STOREY PROPERTY DEVELOPMENTS ASSETS LTD (REGISTERED NUMBER: 15282957)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024

1. STATUTORY INFORMATION

Storey Property Developments Assets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The Directors acknowledge that there is an excess of liabilities over assets on the balance sheet. The funds currently required by the company are provided by the parent company, Storey Property Developments Holdings Limited, which has indicated its continued financial support of the company for a period of at least twelve months from the date of approval of these financial statements. For this reason the Directors continue to adopt the going concern basis in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchases on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date stocks are assessed for impairment. If stock is impaired the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss recognised immediately in profit and loss.

Land stock is recognised at the time a liability is recognised; generally after exchange of unconditional contracts.

STOREY PROPERTY DEVELOPMENTS ASSETS LTD (REGISTERED NUMBER: 15282957)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

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, loan from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

5. STOCKS
£   
Stocks 2,155,184

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 2

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,904
Amounts owed to group undertakings 2,158,177
Accruals and deferred income 1,750
2,161,831

STOREY PROPERTY DEVELOPMENTS ASSETS LTD (REGISTERED NUMBER: 15282957)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 14 NOVEMBER 2023 TO 30 JUNE 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2 Ordinary £1 2

2 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9. RESERVES
Retained
earnings
£   

Deficit for the period (6,647 )
At 30 June 2024 (6,647 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Rawlinson FCA FCCA (Senior Statutory Auditor)
for and on behalf of Rawlinson Pryde Limited

11. CONTROLLING PARTY

The parent company is Storey Property Developments Holdings Limited.

Storey Property Developments Holdings Limited prepares consolidated financial statements and its registered office is Argent House, 5 Goldington Road, Bedford, MK40 3JY.