1 September 2023 v2025.21.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP093430582023-09-012024-08-31093430582024-08-31093430582023-08-3109343058core:WithinOneYear2024-08-3109343058core:WithinOneYear2023-08-3109343058core:AfterOneYear2024-08-3109343058core:AfterOneYear2023-08-3109343058core:ShareCapital2024-08-3109343058core:ShareCapital2023-08-3109343058core:RetainedEarningsAccumulatedLosses2024-08-3109343058core:RetainedEarningsAccumulatedLosses2023-08-3109343058bus:Director12023-09-012024-08-3109343058bus:Director22023-09-012024-08-3109343058bus:RegisteredOffice2023-09-012024-08-3109343058core:NetGoodwill2023-09-012024-08-3109343058core:Goodwill2023-09-012024-08-3109343058core:LandBuildings2023-09-012024-08-3109343058core:OfficeEquipment2023-09-012024-08-3109343058core:FurnitureFittings2023-09-012024-08-31093430582023-01-012023-08-31093430582023-09-0109343058core:BetweenOneFiveYears2024-08-3109343058core:BetweenOneFiveYears2023-08-3109343058core:MoreThanFiveYears2024-08-3109343058core:MoreThanFiveYears2023-08-310934305812023-09-012024-08-3109343058countries:EnglandWales2023-09-012024-08-3109343058bus:AuditExempt-NoAccountantsReport2023-09-012024-08-3109343058bus:PrivateLimitedCompanyLtd2023-09-012024-08-3109343058bus:SmallEntities2023-09-012024-08-3109343058bus:AbridgedAccounts2023-09-012024-08-31
Company registration number:
09343058
Endless Stretch Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 August 2024
Endless Stretch Limited
Abridged Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Intangible assets 5
1,033,333
 
1,133,333
 
Tangible assets 5
1,376,311
 
1,475,829
 
2,409,644
 
2,609,162
 
Current assets    
Debtors
61,819
 
112,150
 
Cash at bank and in hand -  
1,613
 
61,819
 
113,763
 
Creditors: amounts falling due within one year
(146,391
)
(168,913
)
Net current liabilities
(84,572
)
(55,150
)
Total assets less current liabilities 2,325,072   2,554,012  
Creditors: amounts falling due after more than one year
(3,545,689
)
(3,721,125
)
Net liabilities
(1,220,617
)
(1,167,113
)
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
(1,221,617
)
(1,168,113
)
Shareholders deficit
(1,220,617
)
(1,167,113
)
For the 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 abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 August 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
25 April 2025
, and are signed on behalf of the board by:
W Robertson
Mrs S Walsh
DirectorDirector
Company registration number:
09343058
Endless Stretch Limited
Notes to the Abridged Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
77 Grey Street
,
Newcastle Upon Tyne
,
NE1 6EF
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The director's loan account due after more than one year has been reconfirmed at the date of signing the balance sheet as not being due for more than one year. The accounts have therefore been prepared as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received for rent, net of discounts and Value Added Tax.
Revenue from rent is recognised on the quarter days; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
20 years straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 30 years
Office equipment
15% Reducing Balance
Fixtures and fittings
15% Reducing Balance

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Fixed assets

Intangible assetsTangible assetsTotal
£££
Cost      
At
1 September 2023
and
31 August 2024
2,000,000
 
2,861,558
  4,861,558  
Amortisation and depreciation      
At
1 September 2023
866,667
 
1,385,729
  2,252,396  
Charge
100,000
 
99,518
  199,518  
At
31 August 2024
966,667
 
1,485,247
  2,451,914  
Carrying amount      
At
31 August 2024
1,033,333
 
1,376,311
 
2,409,644
 
At 31 August 2023
1,133,333
 
1,475,829
 
2,609,162
 

6 Operating leases

The company as lessee    
Year to 31 Aug 2024Period from 1 Jan 2023 to 31 Aug 2023
££
Not later than 1 year
411,423.00
 
411,423.00
 
Later than 1 year and not later than 5 years
1,645,692.00
 
1,645,692.00
 
Later than 5 years
7,302,758
 
7,714,181
 
9,359,873
 
9,771,296
 

7 Guarantees and other financial commitments

Property rental agreement commenced in September 2012 for 35 years, rent reviews every 5 years with no break clause. Rent due in less than 12 months £411,423 and between 1 and 5 years £1,645,692.

8 Controlling party

The Ultimate Controlling party is the director W G Robertson.