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Registration number: 13879353

St James Projects Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

St James Projects Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

St James Projects Ltd

Company Information

Directors

J J Paul

K S Chang

M H Merran

K Makolli

Registered office

130 Shaftesbury Avenue
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

St James Projects Ltd

Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

328,721

359,092

Investments

5

1

1

 

328,722

359,093

Current assets

 

Debtors

6

2,500,841

603,479

Cash at bank and in hand

 

129

3,225

 

2,500,970

606,704

Creditors: Amounts falling due within one year

7

(2,692,652)

(1,566,556)

Net current liabilities

 

(191,682)

(959,852)

Net assets/(liabilities)

 

137,040

(600,759)

Capital and reserves

 

Called up share capital

1,000

5

Share premium reserve

1,024,760

-

Retained earnings

(888,720)

(600,764)

Shareholders' funds/(deficit)

 

137,040

(600,759)

For the financial year ending 30 September 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.

 

St James Projects Ltd

Statement of Financial Position as at 30 September 2024

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 7 May 2025 and signed on its behalf by:
 

.........................................

J J Paul

Director

Company registration number: 13879353

 

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
130 Shaftesbury Avenue
London
W1D 5EU

The principal activity of the company is that of an investment holding company.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - '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 except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a loss for the year ended 30 September 2024 and had net assets amounting to £137,040 at that date.

The company funds its working capital requirements with loans from directors, shareholders and companies under common control. At 30 September 2024 an amount of £2,473,607 was due to these entities. No matters have been drawn to the attention of the directors to suggest that this funding will not continue and that the amounts due will not be called upon for the foreseeable future. The directors have assessed that the subsidiary undertaking has sufficient working capital to meet its obligations.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of management services and rental income in the ordinary course of company's activities. Turnover is shown net of value added tax, rebates and discounts. Turnover from management services is recognised as services are provided and from rental income evenly over the period of the lease or licence.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property

Over length of lease

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Leasehold Property
£

Total
£

Cost or valuation

At 1 October 2023

403,560

403,560

At 30 September 2024

403,560

403,560

Depreciation

At 1 October 2023

44,468

44,468

Charge for the year

30,371

30,371

At 30 September 2024

74,839

74,839

Carrying amount

At 30 September 2024

328,721

328,721

At 30 September 2023

359,092

359,092

5

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 October 2023 and 30 September 2024

1

Carrying amount

At 30 September 2024

1

At 30 September 2023

1

 

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Amounts owed by group undertakings

2,421,092

507,924

Other debtors

79,749

95,555

2,500,841

603,479

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

129,904

102,479

Other creditors

2,562,748

1,464,077

2,692,652

1,566,556

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £2,960,051 (2023 - £3,276,535).

9

Related party transactions

Summary of transactions with subsidiaries

In accordance with FRS 102 paragraph 1AC.35, exemption is taken to not disclose transactions in the period or amounts falling due with wholly owned undertakings.