| Strettles Property Lettings & Management Limited |
| Registered number: |
05534306 |
| Balance Sheet |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
781,765 |
|
|
800,622 |
| Investments |
4 |
|
|
1 |
|
|
1 |
|
|
|
|
781,766 |
|
|
800,623 |
|
| Current assets |
| Debtors |
5 |
|
1,366,319 |
|
|
1,691,996 |
| Cash at bank and in hand |
|
|
50,507 |
|
|
249,375 |
|
|
|
1,416,826 |
|
|
1,941,371 |
|
| Creditors: amounts falling due within one year |
6 |
|
(574,603) |
|
|
(843,628) |
|
| Net current assets |
|
|
|
842,223 |
|
|
1,097,743 |
|
| Total assets less current liabilities |
|
|
|
1,623,989 |
|
|
1,898,366 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(876,033) |
|
|
(1,083,349) |
|
| Net assets |
|
|
|
747,956 |
|
|
815,017 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
747,955 |
|
|
815,016 |
|
| Shareholder's funds |
|
|
|
747,956 |
|
|
815,017 |
|
|
|
|
|
|
|
|
| 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 his 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. |
|
|
|
|
| Mr DJ Strettle |
| Director |
| Approved by the board on 29 September 2025 |
|
| Strettles Property Lettings & Management Limited |
| Notes to the Accounts |
| for the year ended 30 September 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales / value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. |
|
|
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, as follows: |
|
|
Freehold buildings |
2% on cost |
|
Fixtures, fittings, tools and equipment |
25% on written down value |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
960,119 |
|
10,645 |
|
970,764 |
|
Additions |
- |
|
899 |
|
899 |
|
At 30 September 2024 |
960,119 |
|
11,544 |
|
971,663 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
160,814 |
|
9,328 |
|
170,142 |
|
Charge for the year |
19,202 |
|
554 |
|
19,756 |
|
At 30 September 2024 |
180,016 |
|
9,882 |
|
189,898 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
780,103 |
|
1,662 |
|
781,765 |
|
At 30 September 2023 |
799,305 |
|
1,317 |
|
800,622 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 October 2023 |
1 |
|
|
At 30 September 2024 |
1 |
|
|
The company's investments at the balance sheet date represent 100% of the share capital in White Cube Developments Limited, whose nature of business is property development and lettings. At 31 August 2024 White Cube Developments Limited had an aggregate capital and reserves of £314258 and made of profit for the year after tax of £67696. |
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
1,116,635 |
|
1,186,639 |
|
Other debtors |
249,684 |
|
505,357 |
|
|
|
|
|
|
1,366,319 |
|
1,691,996 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
8,000 |
|
8,000 |
|
Trade creditors |
28,707 |
|
15,025 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
488,767 |
|
767,764 |
|
Taxation and social security costs |
10,455 |
|
8,223 |
|
Other creditors |
38,674 |
|
44,616 |
|
|
|
|
|
|
574,603 |
|
843,628 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
876,033 |
|
1,083,349 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2024 |
|
2023 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
884,033 |
|
1,069,349 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by fixed and floating charges over the assets of the company. |
|
| 9 |
Related party transactions |
|
|
Mr D Strettle controls the company by virtue of his shareholding. Mr D Strettle also controls STR Properties Limited, a company which had provided a non-interest paying loan to Strettles Property Lettings and Management Limited. The company owed £488767 (2023: £505871) to STR Properties Limited at 30 September 2024. |
|
A non-interest paying loan has also been provided to the subsidiary company, White Cube Developments Limited during the year. At 30 September 2024 the loan amounted to £1116635 (2023: £1186639). |
|
Mr D Strettle has a loan account with the company. At 30 September 2024 Mr Strettle owed the company £98531 (2023: £96525). |
|
| 10 |
Other information |
|
|
Strettles Property Lettings & Management Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 16 Eastway Business Village |
|
Olivers Place |
|
Fulwood |
|
Preston |
|
PR2 9WT |