Streets ISA Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07525045

STREETS ISA LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 March 2025

STREETS ISA LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	15,434	33,781
Investments	6	29,502	29,502
		--------	--------
		44,936	63,283

Current assets

Debtors	7	1,093,641	984,780
Cash at bank and in hand		194,261	221,670
		------------	------------
		1,287,902	1,206,450

Creditors: amounts falling due within one year	8	( 691,914)		( 746,331)
		------------		------------
Net current assets			595,988	460,119
			---------	---------
Total assets less current liabilities			640,924	523,402

Provisions

Taxation including deferred tax	( 4,586)	( 8,445)
	---------	---------
Net assets	636,338	514,957
	---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	635,338	513,957
	---------	---------
Shareholders funds	636,338	514,957
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 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 financial statements .

STREETS ISA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

P F Tutin

Director

Company registration number: 07525045

STREETS ISA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax, and is inclusive of accrued income for any work done not invoiced. Given the nature of the services provided the billings plus any accrued income represent the fair value of the services provided.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Operating leases

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Investments

Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2024: 29 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	77,379	57,750	17,366	152,495
	--------	--------	--------	---------
Depreciation
At 1 April 2024	68,996	32,485	17,233	118,714
Charge for the year	3,776	14,438	133	18,347
	--------	--------	--------	---------
At 31 March 2025	72,772	46,923	17,366	137,061
	--------	--------	--------	---------
Carrying amount
At 31 March 2025	4,607	10,827	–	15,434
	--------	--------	--------	---------
At 31 March 2024	8,383	25,265	133	33,781
	--------	--------	--------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	29,502
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	29,502
	--------
At 31 March 2024	29,502
	--------

The company owns 100% of the issued share capital in Mark Carr & Co Ltd.

7. Debtors

	2025	2024
	£	£
Trade debtors	903,346	838,845
Other debtors	190,295	145,935
	------------	---------
	1,093,641	984,780
	------------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	336,218	278,682
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10,168	18,946
Corporation tax	72,732	194,603
Social security and other taxes	136,753	133,356
Other creditors	136,043	120,744
	---------	---------
	691,914	746,331
	---------	---------

9. Charges on assets

Natwest Bank hold a debenture which secures all amounts owing to the bank by any of the Streets entities. The debenture contains a fixed and floating charge over the assets of this limited company and other related Streets entities.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	60,750	53,500
Later than 1 year and not later than 5 years	–	41,500
	--------	--------
	60,750	95,000
	--------	--------

11. Related party transactions

The company was under the control of SMS Corporate Partner Limited throughout the current and previous year. SMS Corporate Partner Limited is owned by the partners of Streets Management Services, a general commercial partnership. The company did not enter into any transactions during the current or previous period, such as would require disclosure in accordance with FRS 102 section 1A.