REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2024 |
for |
Student Tribe Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2024 |
for |
Student Tribe Limited |
Student Tribe Limited (Registered number: 08572580) |
Contents of the Financial Statements |
for the Year Ended 31st July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Student Tribe Limited |
Company Information |
for the Year Ended 31st July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
34 - 35 Clarges Street |
Mayfair |
London |
W1J 7EJ |
Student Tribe Limited (Registered number: 08572580) |
Balance Sheet |
31st July 2024 |
31/7/24 | 31/7/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
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. |
Student Tribe Limited (Registered number: 08572580) |
Balance Sheet - continued |
31st July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Student Tribe Limited (Registered number: 08572580) |
Notes to the Financial Statements |
for the Year Ended 31st July 2024 |
1. | STATUTORY INFORMATION |
Student Tribe Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method or, if held under a finance lease, over the lease term, whichever is the shorter. |
Fixtures and fittings - 20% on cost |
Computer equipment - 33% on cost |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'other operating income' in the Income Statement. |
Investment property |
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised through profit or loss. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
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. |
Student Tribe Limited (Registered number: 08572580) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2023 |
Additions |
At 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st August 2023 |
Additions |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
Investment property was valued by Student Tribe Management Company Ltd on 30 September 2024. The valuation takes future market rate rental income figures into account. |
If investment property had not been revalued it would have been held at historical cost of £2,290,823 (2023 - £2,228,122). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/24 | 31/7/23 |
£ | £ |
Trade debtors |
Student Tribe Limited (Registered number: 08572580) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/24 | 31/7/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/08/24 | 31/08/23 |
£ | £ |
Creditors: amounts falling due after more than one year, less than five years | - | - |
Creditors: amounts falling due after more than five years | 1,812,438 | 1,812,438 |
1,812,438 | 1,812,438 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/7/24 | 31/7/23 |
£ | £ |
Mortgages | 1,812,438 | 1,812,438 |
Each mortgage is secured by a fixed charge over the specific investment property to which it relates. |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st August 2023 |
and 31st July 2024 |