REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
STRATHMORE POPLAR LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
STRATHMORE POPLAR LTD |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STRATHMORE POPLAR LTD |
COMPANY INFORMATION |
for the Year Ended 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
BALANCE SHEET |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
BALANCE SHEET - continued |
31 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Strathmore Poplar Ltd is a company incorporated and domiciled in England. It has its registration no. 10314547. The registered office and its principle place of business is at 16A Nordham, North Cave, HU15 2LT. |
The principal activity of the company is that of other letting and operating of own or leased real estate. |
The presentational currency of the financial statements is Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2023 |
Additions |
Revaluations | (16,770 | ) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
The directors have considered the carrying amount of the investment property at the year end and consider it to be approximate to its fair value. |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2017 | 23,340 |
Valuation in 2022 | 40,270 |
Valuation in 2024 | (16,770 | ) |
Cost | 921,131 |
967,971 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
STRATHMORE POPLAR LTD (REGISTERED NUMBER: 10314547) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 September 2023 |
Investment properties | (51,524 | ) |
At 31 August 2024 |
8. | RELATED PARTY TRANSACTIONS |
Included in other creditors is a loan to the company from its directors amounting to £574,579 (2023: £303,323). |
This loan is interest free and repayable on demand. Although the loan is repayable on demand the directors have confirmed they will not demand repayment until there are sufficient funds available. |
On this basis the accounts have been prepared on a going concern basis. |
9. | ULTIMATE CONTROLLING PARTY |