Strategic Residential Development Limited 23/03/2019 iXBRL

Strategic Residential Development Limited 23/03/2019 iXBRL

STRATEGIC RESIDENTIAL DEVELOPMENT LIMITED - Company Information

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23/03/2019 2019-03-23 false false false false false false false false false true true false false true false false false false false false false false No description of principal activities is disclosed 2018-03-29 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 08698702 2018-03-29 2019-03-23 08698702 2019-03-23 08698702 2018-03-28 08698702 bus:OrdinaryShareClass1 2018-03-29 2019-03-23 08698702 bus:Director1 2018-03-29 2019-03-23 08698702 core:WithinOneYear 2019-03-23 08698702 core:WithinOneYear 2018-03-28 08698702 core:AfterOneYear 2019-03-23 08698702 core:AfterOneYear 2018-03-28 08698702 core:ShareCapital 2019-03-23 08698702 core:ShareCapital 2018-03-28 08698702 bus:OrdinaryShareClass1 core:ShareCapital 2019-03-23 08698702 bus:OrdinaryShareClass1 core:ShareCapital 2018-03-28 08698702 core:CostValuation core:Non-currentFinancialInstruments 2019-03-23 08698702 core:Non-currentFinancialInstruments 2019-03-23 08698702 core:Non-currentFinancialInstruments 2018-03-28 08698702 bus:SmallEntities 2018-03-29 2019-03-23 08698702 bus:AuditExempt-NoAccountantsReport 2018-03-29 2019-03-23 08698702 bus:FullAccounts 2018-03-29 2019-03-23 08698702 bus:SmallCompaniesRegimeForAccounts 2018-03-29 2019-03-23 08698702 bus:EntityNoLongerTradingButTradedInPast 2018-03-29 2019-03-23 08698702 bus:PrivateLimitedCompanyLtd 2018-03-29 2019-03-23
Company registration number: 08698702
Strategic Residential Development Limited
Unaudited filleted financial statements
23 March 2019
Strategic Residential Development Limited
Contents
Statement of financial position
Notes to the financial statements
Strategic Residential Development Limited
Statement of financial position
23 March 2019
23/03/19 28/03/18
Note £ £ £ £
Fixed assets
Debenture loans 4 4,567,600 4,567,600
_______ _______
4,567,600 4,567,600
Current assets
Debtors 5 1,291,405 1,291,405
Cash at bank and in hand 1,177 1,177
_______ _______
1,292,582 1,292,582
Creditors: amounts falling due
within one year 6 ( 698,600) ( 698,600)
_______ _______
Net current assets 593,982 593,982
_______ _______
Total assets less current liabilities 5,161,582 5,161,582
Creditors: amounts falling due
after more than one year 7 ( 4,565,900) ( 4,565,900)
_______ _______
Net assets 50,000 50,000
_______ _______
Capital and reserves
Called up share capital 8 50,000 50,000
_______ _______
Shareholders funds 50,000 50,000
_______ _______
The company did not trade during the current period and has not made either a profit or loss.
For the period ending 23 March 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period 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.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 June 2020 , and are signed on behalf of the board by:
Mr Marc Hounsell
Director
Company registration number: 08698702
Strategic Residential Development Limited
Notes to the financial statements
Period ended 23 March 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is C/O Forest Edge Accountancy, 2 Appletree Close, Redlynch, Salisbury, SP5 2JG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current period.
Turnover
Turnover is interest received and receivable on loans.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debenture loans
Other loans Total
£ £
Cost
At 29 March 2018 and 23 March 2019 4,567,600 4,567,600
_______ _______
Impairment
At 29 March 2018 and 23 March 2019 - -
_______ _______
Carrying amount
At 23 March 2019 4,567,600 4,567,600
_______ _______
At 28 March 2018 4,567,600 4,567,600
_______ _______
The borrowing companies have failed to pay their debts when they became due. The companies were put into administration on 10 January 2019, currently it is not possible to quantify with certaintly how much of the debt will be recovered. No provision has been made against the debt.
5. Debtors
23/03/19 28/03/18
£ £
Called up share capital not paid 37,500 37,500
Prepayments and accrued income 544,505 544,505
Debenture loans 696,900 696,900
Other debtors 12,500 12,500
_______ _______
1,291,405 1,291,405
_______ _______
Prepayments and accrued income and debenture loans represent amounts owed by the borrowing companies. The companies have failed to pay their debts when they became due and were put into administration on 10 January 2019. Currently it is not possible to quantify with any certainty how much of the debt will be recovered. No provision has been made against the debt.
6. Creditors: amounts falling due within one year
23/03/19 28/03/18
£ £
Accruals and deferred income 545,682 545,682
Other creditors 698,600 698,600
_______ _______
1,244,282 1,244,282
_______ _______
7. Creditors: amounts falling due after more than one year
23/03/19 28/03/18
£ £
Other creditors 4,565,900 4,565,900
_______ _______
8. Called up share capital
Issued, called up and fully paid
23/03/19 28/03/18
No £ No £
Ordinary A shares of £ 1.00 each 50,000 50,000 50,000 50,000
_______ _______ _______ _______