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Registered number: 00519616
Henry Streeter (Transport) Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00519616
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 984,019 894,241
984,019 894,241
CURRENT ASSETS
Debtors 5 58,996 58,996
Cash at bank and in hand 163,110 132,974
222,106 191,970
Creditors: Amounts Falling Due Within One Year 6 (514,491 ) (512,048 )
NET CURRENT ASSETS (LIABILITIES) (292,385 ) (320,078 )
TOTAL ASSETS LESS CURRENT LIABILITIES 691,634 574,163
PROVISIONS FOR LIABILITIES
Deferred Taxation (121,005 ) (98,560 )
NET ASSETS 570,629 475,603
CAPITAL AND RESERVES
Called up share capital 8 4,952 4,952
Fair value reserve 9 363,014 295,680
Profit and Loss Account 202,663 174,971
SHAREHOLDERS' FUNDS 570,629 475,603
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Page 2
For the year ending 31 May 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
C McCoy
Director
4th February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Henry Streeter (Transport) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00519616 . The registered office is 2 Station Road West, Oxted, Surrey, RH8 9EP.
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. Financial Instruments
i)Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, and loans from fellow Group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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2.3. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
There were no staff costs for the year ended 31 May 2024 nor for the year eneded 31 May 2023
Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)
- -
4. Investments
Listed
£
Cost
As at 1 June 2023 894,241
Revaluations 89,778
As at 31 May 2024 984,019
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 984,019
As at 1 June 2023 894,241
5. Debtors
2024 2023
£ £
Due within one year
VAT 737 737
Amounts owed by group undertakings 58,259 58,259
58,996 58,996
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 2,200 2,200
Amounts owed to group undertakings 512,291 509,848
514,491 512,048
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 98,560 98,560
Deferred taxation 22,445 22,445
Balance at 31 May 2024 121,005 121,005
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,952 4,952
9. Reserves
Fair Value Reserve
£
As at 1 June 2023 295,680
Transfer to profit and loss 67,334
As at 31 May 2024 363,014
10. Related Party Transactions
Henry Streeter Ltd - a parent company. The balance owing to Henry Streeter Ltd at the balance sheet date is £19,546 (2023 - £19,546).
Henry Streeter (Automotive) Ltd - a fellow subsidiary. During the year Henry Streeter (Automotive) paid expenses on behalf of the company of £2,445 (2023 - £4,635). The balance owing to Henry Streeter Automotive Ltd at the balance sheet date is £338,370 (2023 - £335,925).
Henry Streeter (Sunbury) Ltd - a fellow subsidiary. The balance owing from Henry Streeter (Sunbury) Ltd at the balance sheet date is £38,713 (2023 - £38,713).
Henry Streeter (Sand & Ballast) Ltd - a fellow subsidiary. The balance owing to Henry Streeter (Sand & Ballast) Ltd at the balance sheet date is £103,992 (2023 - £103,992).
Henry Streeter (Finance) Ltd - a fellow subsidiary. The balance owed from Henry Streeter (Finance) Ltd at the balance sheet date is £69,929 (2023 - £69,929).
McKenzies ATS Ltd, a company Mr C McCoy is a director and shareholder. During the year the company made purchases from McKenzies ATS Ltd of £2,445  (2023 - £2,435). The balance owing to McKenzies ATS Ltd at the balance sheet date is £Nil  (2023 - £Nil)
11. Ultimate Controlling Party
The company's ultimate controlling party is The Freddie Green & Family Charitable Foundation .
The director regards Henry Streeter Limited, registered in England and Wales, as the immediate parent company.
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