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Registration number: 03829590

STE&M Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

Pages for filing with Registrar

 

STE&M Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

STE&M Developments Ltd

Company Information

Directors

T T Bamford

J M Gee

Registered office

2 Fernbank Road
Bristol
BS6 6PZ

Registered number

03829590

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

STE&M Developments Ltd

(Registration number: 03829590)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,438

7,574

Investment property

6

790,000

1,175,000

 

796,438

1,182,574

Current assets

 

Debtors

7

1,927

1,100

Cash at bank and in hand

 

4,120

593

 

6,047

1,693

Creditors: Amounts falling due within one year

8

(52,997)

(10,963)

Net current liabilities

 

(46,950)

(9,270)

Total assets less current liabilities

 

749,488

1,173,304

Creditors: Amounts falling due after more than one year

8

-

(360,091)

Provisions for liabilities

(70,500)

(120,000)

Net assets

 

678,988

693,213

Capital and reserves

 

Called up share capital

4

4

Other reserves

306,413

537,038

Profit and loss account

372,571

156,171

Total equity

 

678,988

693,213

 

STE&M Developments Ltd

(Registration number: 03829590)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 year 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 


T T Bamford
Director

   
     
 

STE&M Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

Statutory information

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

The address of its registered office is:
2 Fernbank Road
Bristol
BS6 6PZ
England

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover represents rents receivable under operating leases on an accruals basis.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Plant and machinery

15% reducing balance

Furniture and fittings

15% reducing balance

 

STE&M Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

Trade creditors

Trade creditors are recognised 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.

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 year, was 2 (2023 - 2).

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Revaluation of investment property

70,500

70,500

2023

Liability
£

Revaluation of investment property

120,000

120,000

 

STE&M Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible fixed assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost

At 1 September 2023

22,361

17,064

39,425

At 31 August 2024

22,361

17,064

39,425

Depreciation

At 1 September 2023

19,792

12,059

31,851

Charge for the year

385

751

1,136

At 31 August 2024

20,177

12,810

32,987

Carrying amount

At 31 August 2024

2,184

4,254

6,438

At 31 August 2023

2,569

5,005

7,574

6

Investment properties

2024
£

At 1 September

1,175,000

Disposals

(385,000)

At 31 August

790,000

Investment property is carried at fair value, determined by the directors with reference to the condition and location of the property, as well as current, observable market prices. There has been no valuation of investment property by an independent valuer.

 

STE&M Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors: amounts falling due within one year

2024
£

2023
£

Prepayments

-

1,100

Directors' loan accounts

1,927

-

1,927

1,100

8

Creditors

2024
£

2023
£

Trade creditors

-

701

Corporation tax

49,597

832

Other creditors

600

600

Accruals and deferred income

2,800

3,830

Directors' loan accounts

-

5,000

52,997

10,963

Due after one year

Loans and borrowings

-

241,042

Directors' loan accounts

-

119,049

-

360,091

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4