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Registered number: 00619291
Henry Streeter (Sunbury) 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: 00619291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,260,000 3,260,000
3,260,000 3,260,000
CURRENT ASSETS
Debtors 5 1,188,487 1,230,306
Cash at bank and in hand 3,113 3,310
1,191,600 1,233,616
Creditors: Amounts Falling Due Within One Year 6 (580,184 ) (624,184 )
NET CURRENT ASSETS (LIABILITIES) 611,416 609,432
TOTAL ASSETS LESS CURRENT LIABILITIES 3,871,416 3,869,432
PROVISIONS FOR LIABILITIES
Deferred Taxation (341,595 ) (341,595 )
NET ASSETS 3,529,821 3,527,837
CAPITAL AND RESERVES
Called up share capital 8 600 600
Fair value reserve 9 1,024,790 1,024,790
Profit and Loss Account 2,504,431 2,502,447
SHAREHOLDERS' FUNDS 3,529,821 3,527,837
Page 1
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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Page 3
Notes to the Financial Statements
1. General Information
Henry Streeter (Sunbury) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00619291 . The registered office is 2 Station Road, 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. Turnover
Turnover represents rent receivable, net of value added tax. Rental income is recognised in the period to which it relates.
2.3. Investment Properties
Investment property is included at market fair value. Gains are recognised in the income statement.
2.4. 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.
3. Average Number of Employees
There were no staff costs for the year ended 31 May 2024 nor for the year ended 31 May 2023
Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)
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4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 3,260,000
If the investment properties had not been revalued they would have been included at the following historical cost:
2024 2023
£ £
Cost 1,893,615 1,893,615
Investment properties were valued on an open market basis on 31 May 2021 by Savills.
The director re-assessed the values of the investment properites as at 31 May 2024 and concluded no adjustments to the open market value are required for the year ended 31 May 2024.
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 1,188,487 1,230,306
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 24,066 24,066
Amounts owed to group undertakings 556,118 600,118
580,184 624,184
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 341,595 341,595
Balance at 31 May 2024 341,595 341,595
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 600 600
9. Reserves
Fair Value Reserve
£
As at 1 June 2023 1,024,790
As at 31 May 2024 1,024,790
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10. Related Party Transactions
Henry Streeter (Automotive) Ltd - a fellow subsidiary. During the year the company made intergroup transfers to Henry Streeter (Automotive) Ltd of £181,228 (2023 - £267,613) and received transfers from Henry Streeter (Automotive) Ltd of £220,877 (2023 - £Nil). Henry Streeter (Automotive) Limited made payments on behalf of the company of £2,170 (2023 - £6,010). The balance owing from Henry Streeter (Automotive) Ltd at the balance sheet date is £1,188,487 (2023 - £1,230,306).
Henry Streeter (Sand & Ballast) Ltd - a fellow subsidiary. During the year there were intercompany transactions totalling £Nil (2023 - £Nil). The balance owing to Henry Streeter (Sand & Ballast) Ltd at the balance sheet date is £517,406 (2023 - £517,406).
Henry Streeter Transport Ltd - a fellow subsidiary. The balance owed to Henry Streeter Transport Ltd at the balance sheet date is £38,713 (2023 - £38,713).
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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