Registration number:
STE&M Developments Ltd
for the Year Ended 31 August 2024
Pages for filing with Registrar
STE&M Developments Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
STE&M Developments Ltd
Company Information
Directors |
T T Bamford J M Gee |
Registered office |
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Registered number |
03829590 |
Accountants |
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STE&M Developments Ltd
(Registration number: 03829590)
Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
6,438 |
7,574 |
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Investment property |
790,000 |
1,175,000 |
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796,438 |
1,182,574 |
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Current assets |
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Debtors |
1,927 |
1,100 |
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Cash at bank and in hand |
4,120 |
593 |
|
6,047 |
1,693 |
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Creditors: Amounts falling due within one year |
(52,997) |
(10,963) |
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Net current liabilities |
(46,950) |
(9,270) |
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Total assets less current liabilities |
749,488 |
1,173,304 |
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Creditors: Amounts falling due after more than one year |
- |
(360,091) |
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Provisions for liabilities |
(70,500) |
(120,000) |
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Net assets |
678,988 |
693,213 |
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Capital and reserves |
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Called up share capital |
4 |
4 |
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Other reserves |
306,413 |
537,038 |
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Profit and loss account |
372,571 |
156,171 |
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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:
• |
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• |
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
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STE&M Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Deferred tax
Deferred tax assets and liabilities
2024 |
Liability |
Revaluation of investment property |
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2023 |
Liability |
Revaluation of investment property |
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STE&M Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible fixed assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost |
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At 1 September 2023 |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Investment properties |
2024 |
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At 1 September |
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Disposals |
( |
At 31 August |
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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
Debtors: amounts falling due within one year |
2024 |
2023 |
|
Prepayments |
- |
1,100 |
Directors' loan accounts |
1,927 |
- |
1,927 |
1,100 |
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 |
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Due after one year |
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Loans and borrowings |
- |
241,042 |
Directors' loan accounts |
- |
119,049 |
- |
360,091 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
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4 |
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4 |