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Registered number: 00363119
J.W.Stratton Limited
Financial statements
Information for filing with the registrar
For the Year Ended 31 August 2025
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J.W.Stratton Limited
Registered number: 00363119
Balance Sheet
As at 31 August 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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J D Meachim
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The notes on pages 2 to 11 form part of these financial statements.
Page 1
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
J.W.Stratton Limited is a private company limited by shares incorporated in England and Wales (registered number: 00363119). The address of the registered office is 1 Mill Lane, Shoreham-By-Sea, West Sussex, BN43 5AB.
The financial statements are prepared in pound sterling (£), which is the functional currency of the entity.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company's business activities, together with factors likely to affect its future development, performance and position are set out in the strategic report.
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax.
Revenue is recognised in the financial statements on the date of completion, when the significant risks and rewards of ownership of the properties have passed to the buyer.
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Investment property rental income
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Rental income from the investment property is recognised over the term of the lease.
Ground rent received is accounted for in the period to which it relates.
Page 2
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is carried at fair value determined annually by either external valuers or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit or loss.
Stock relates to Land Stock and is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase plus costs associated with the purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal
level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit
is included in the valuation of work in progress.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Page 3
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Page 4
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. The directors base their estimates on historical experience and various other assumptions that they believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Work in progress provision
Provision against work in progress requires a judgment to estimate the foreseeable losses. The directors set the provision at 1% (2024 - 1%) of the work in progress balance as at the year end, based on historical experience and the outcome of previous year’s provisions. At the year end the provision included in the accounts was £40,160 (2024 - £51,792). An additional provision to recognise work in progress at the lower of cost and net realisable value has been made of £250,682 (2024 - £nil).
Valuation of investment property
Investment property is valued periodically through the use of professional valuers. A revaluation took place during the year, valuing the investment property at £220,000 (2024 - £180,000).
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The average monthly number of employees, including directors, during the year was 14 (2024 - 14).
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Page 5
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Charge for the year on owned assets
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Page 6
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Freehold investment property
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The 2025 valuation was made by the directors, with the assistance of a local estate agent, on an open market value basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Page 7
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 8
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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The development loan balance as at 31 August 2024 was repaid during the year.
The development loan balance as at 31 August 2025 is repayable at the earliest of 15 months after the first part of the loan is drawn, or the sale of the last property on the relevant site. Interest is charged on the loan at 4.75% over Bank of England base rate per annum.
Security has been given over the loans in the form of a legal charge over the development site to which the loan relates and via a debenture on all the assets of the Company.
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Short term timing differences
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Page 9
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Allotted, called up and fully paid
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99,999 (2024 - 99,999) Ordinary shares of £1.00 each
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Share premium account
The share premium account reflects proceeds received in addition to the nominal value of the shares issued. This is a non-distributable reserve.
Fair value reserve
The fair value reserve reflects the fair value uplift in the investment property since purchase. This is a non-distributable reserve.
The company had a fixed and floating charge secured on all assets of the company dated 29 March 2008. This charge was released on 29 November 2024 and a new charge secured on all the assets was put in place.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £36,055 (2024 - £26,714). Contributions totalling £3,869 (2024 - £3,740) were payable to the fund at the reporting date and are included in creditors.
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Related party transactions
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During the year J.W.Stratton Limited Employee Share Benefits Trust received a dividend of £4,760 (2024 - £6,686) from J.W.Stratton Limited.
J Meachim and D Woodward are Trustees of this trust.
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Post balance sheet events
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In September 2025 the Company entered into an agreement to loan £2,485,000 to fund the purchase of a new development site.
The directors consider the J W Stratton Settlement Trust to be the ultimate controlling party.
Page 10
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J.W.Stratton Limited
Notes to the Financial Statements
For the Year Ended 31 August 2025
The auditor's report on the financial statements for the year ended 31 August 2025 was unqualified.
The audit report was signed on 24 February 2026 by Simon Webber BA FCA DChA (Senior Statutory Auditor) on behalf of Kreston Reeves Audit LLP.
Page 11
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