ST Magdalen Limited 15185285 false 2023-10-03 2024-10-31 2024-10-31 The principal activity of the company is Letting and operating of own real estate Digita Accounts Production Advanced 6.30.9574.0 true 15185285 2023-10-03 2024-10-31 15185285 2024-10-31 15185285 core:CurrentFinancialInstruments 2024-10-31 15185285 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 15185285 core:Non-currentFinancialInstruments 2024-10-31 15185285 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 15185285 bus:SmallEntities 2023-10-03 2024-10-31 15185285 bus:AuditExemptWithAccountantsReport 2023-10-03 2024-10-31 15185285 bus:FilletedAccounts 2023-10-03 2024-10-31 15185285 bus:SmallCompaniesRegimeForAccounts 2023-10-03 2024-10-31 15185285 bus:RegisteredOffice 2023-10-03 2024-10-31 15185285 bus:Director1 2023-10-03 2024-10-31 15185285 bus:Director2 2023-10-03 2024-10-31 15185285 bus:PrivateLimitedCompanyLtd 2023-10-03 2024-10-31 15185285 bus:Agent1 2023-10-03 2024-10-31 15185285 countries:EnglandWales 2023-10-03 2024-10-31 iso4217:GBP xbrli:pure

Registration number: 15185285

ST Magdalen Limited

Unaudited Filleted Financial Statements

for the Period from 3 October 2023 to 31 October 2024

 

ST Magdalen Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

ST Magdalen Limited

Company Information

Directors

Mr TJ Brown

Mr SE Nikudinski

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

ST Magdalen Limited

(Registration number: 15185285)
Balance Sheet as at 31 October 2024

Note

2024
£

Fixed assets

 

Investment property

4

1,949,138

Current assets

 

Debtors

5

944,632

Cash at bank and in hand

 

18,709

 

963,341

Creditors: Amounts falling due within one year

6

(124,135)

Net current assets

 

839,206

Total assets less current liabilities

 

2,788,344

Creditors: Amounts falling due after more than one year

6

(2,750,000)

Net assets

 

38,344

Capital and reserves

 

Called up share capital

100

Retained earnings

38,244

Shareholders' funds

 

38,344

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

ST Magdalen Limited

(Registration number: 15185285)
Balance Sheet as at 31 October 2024

Approved and authorised by the Board on 19 March 2025 and signed on its behalf by:
 

.........................................
Mr TJ Brown
Director

.........................................
Mr SE Nikudinski
Director

 

ST Magdalen Limited

Notes to the Unaudited Financial Statements for the Period from 3 October 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the Board on 19 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of rents receivable by the company, excluding value added tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value determined annually by the directors, Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

ST Magdalen Limited

Notes to the Unaudited Financial Statements for the Period from 3 October 2023 to 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2024
£

Additions

1,949,138

At 31 October

1,949,138

Investment property was valued on the open market basis on 31 October 2024 by thr company director's. They considered the value to be the same as historical cost.

There has been no valuation of investment property by an independent valuer.

 

ST Magdalen Limited

Notes to the Unaudited Financial Statements for the Period from 3 October 2023 to 31 October 2024

5

Debtors

Current

Note

2024
£

Trade debtors

 

262,500

Amounts owed by related parties

648,854

Prepayments

 

20,184

Other debtors

 

13,094

   

944,632

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

50,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

260

Taxation and social security

 

12,868

Accruals and deferred income

 

2,674

Other creditors

 

58,333

 

124,135

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

2,750,000

Creditors include bank loans which is secured of £2,750,000. The bank loan is secured by a fixed and floating charge over the company's assets and a legal charge over the leasehold property.

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

2,750,000