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REGISTERED NUMBER: 07633416 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

STAXTON LTD

STAXTON LTD (REGISTERED NUMBER: 07633416)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STAXTON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: C Josefovitz
A Oestreicher





REGISTERED OFFICE: 115 Craven Park Road
London
N15 6BL





REGISTERED NUMBER: 07633416 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

STAXTON LTD (REGISTERED NUMBER: 07633416)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 4,383 5,651
Investment property 6 1,366,231 1,139,184
1,370,614 1,144,835

CURRENT ASSETS
Debtors 7 4,620 7,567
Cash at bank 201 7,728
4,821 15,295
CREDITORS
Amounts falling due within one year 8 (427,904 ) (256,081 )
NET CURRENT LIABILITIES (423,083 ) (240,786 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

947,531

904,049

CREDITORS
Amounts falling due after more than one
year

9

(428,369

)

(458,316

)
NET ASSETS 519,162 445,733

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 188,606 188,606
Retained earnings 12 330,554 257,125
SHAREHOLDERS' FUNDS 519,162 445,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

STAXTON LTD (REGISTERED NUMBER: 07633416)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 and authorized for issue by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





C Josefovitz - Director


STAXTON LTD (REGISTERED NUMBER: 07633416)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Staxton 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

STAXTON LTD (REGISTERED NUMBER: 07633416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 6,356 8,760 15,116
DEPRECIATION
At 1 June 2023 3,038 6,427 9,465
Charge for year 498 770 1,268
At 31 May 2024 3,536 7,197 10,733
NET BOOK VALUE
At 31 May 2024 2,820 1,563 4,383
At 31 May 2023 3,318 2,333 5,651

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,139,184
Additions 227,047
At 31 May 2024 1,366,231
NET BOOK VALUE
At 31 May 2024 1,366,231
At 31 May 2023 1,139,184

The director has confirmed that there is no significant change in the value of the properties.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 4,507 7,547
Other debtors 113 20
4,620 7,567

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 13,673 8,698
Taxation and social security 37,078 21,351
Other creditors 377,153 226,032
427,904 256,081

STAXTON LTD (REGISTERED NUMBER: 07633416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 413,369 435,816
Other creditors 15,000 22,500
428,369 458,316

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 188,790 188,790

Repayable by instalments
Bank loans more 5 yr by instal 224,579 247,026
Other loans more 5yrs instal 15,000 22,500
239,579 269,526

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 413,369 435,816
Other loans 15,000 22,500
428,369 458,316

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £15,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 257,125 188,606 445,731
Profit for the year 73,429 73,429
At 31 May 2024 330,554 188,606 519,160

STAXTON LTD (REGISTERED NUMBER: 07633416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

13. RELATED PARTY DISCLOSURES

Other Creditors (Note 10) relates to amounts due to companies connected to the director and his family members. The loans are interest free and payable on demand.

14. ULTIMATE CONTROLLING PARTY

The controlling party is C Josefovitz.