Registered number
12160084
Stella Tracy Property Company Limited
Filleted Accounts
31 August 2024
Stella Tracy Property Company Limited
Registered number: 12160084
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 600,000 600,000
Current assets
Debtors 4 1,853 3,853
Cash at bank and in hand 9,518 13,628
11,371 17,481
Creditors: amounts falling due within one year 5 (400) (400)
Net current assets 10,971 17,081
Total assets less current liabilities 610,971 617,081
Creditors: amounts falling due after more than one year 6 (467,251) (473,569)
Net assets 143,720 143,512
Capital and reserves
Called up share capital 10 10
Revaluation reserve 8 145,926 145,926
Profit and loss account (2,216) (2,424)
Shareholder's funds 143,720 143,512
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Gonultas
Director
Approved by the board on 31 May 2025
Stella Tracy Property Company Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
The company's land and buildings are investment properties and are therefore stated at
valuation and are not subject to periodic charges for depreciation.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2023 600,000
At 31 August 2024 600,000
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 600,000
At 31 August 2023 600,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 454,074 454,074
Cumulative depreciation based on historical cost - -
454,074 454,074
The land and buildings were revalued at open market value as at 31st August 2024 by the company director.
4 Debtors 2024 2023
£ £
Other debtors 1,853 3,853
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 400 400
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 329,286 325,293
Director's loan account 137,965 148,276
467,251 473,569
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 329,286 325,293
The bank loans are secured on the company owned land and buildings.
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 145,926 -
Gain on revaluation of land and buildings - 145,926
At 31 August 2024 145,926 145,926
9 Other information
Stella Tracy Property Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
49 Farm Road
Milton
Weston Super Mare
BS22 8BE
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