Company No: 10693754 (England and Wales)

Contents

• Company Information
• Accountant's Report
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTOR	Johan Andries Strydom
REGISTERED OFFICE	Century House
	Nicholson Road
	Torquay
	Devon
	TQ2 7TD
	United Kingdom
COMPANY NUMBER	10693754(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	Century House
	Nicholson Road
	Torquay
	TQ2 7TD

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Strydom Commercial Limited for the financial year ended 31 March 2020 which comprises the Statement of Financial Position and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.

It is your duty to ensure that Strydom Commercial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Strydom Commercial Limited. You consider that Strydom Commercial Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Strydom Commercial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Strydom Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 03 December 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Strydom Commercial Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strydom Commercial Limited and its Director as a body for our work or for this report.

Bishop Fleming LLP
Chartered Accountants

Century House
Nicholson Road
Torquay
TQ2 7TD

05 March 2021

		2020		2019
	Note	£		£
Fixed assets
Investment property	3	450,000		450,000
		450,000		450,000
Current assets
Debtors	4	481,820		447,820
Cash at bank and in hand		15,157		388
		496,977		448,208
Creditors
Amounts falling due within one year	5	( 708,375)		( 658,008)
Net current liabilities		(211,398)		(209,800)
Total assets less current liabilities		238,602		240,200
Provisions for liabilities		( 44,600)		( 40,172)
Net assets		194,002		200,028
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		194,001		200,027
Total shareholder's funds		194,002		200,028

For the financial year ending 31 March 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Strydom Commercial Limited (registered number: 10693754) were approved and authorised for issue by the Director on 03 March 2021. They were signed on its behalf by:

Johan Andries Strydom Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Strydom Commercial Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, Devon, TQ2 7TD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Strydom Commercial Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Investment property

Investment property are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2020	2019
	Number	Number
Monthly average number of persons employed by the Company during the year, including director	1	1

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2019	450,000
As at 31 March 2020	450,000

4. Debtors

	2020	2019
	£	£
Other debtors	481,820	447,820
	481,820	447,820

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Amounts owed to director	707,199	656,448
Accruals	1,176	1,560
	708,375	658,008

6. Deferred tax

	2020	2019
	£	£
At the beginning of financial year	( 40,172)	0
Charged to the Statement of Income and Retained Earnings	( 4,428)	( 40,172)
At the end of financial year	( 44,600)	( 40,172)

7. Called-up share capital and reserves

	2020	2019
	£	£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 (2019: 1 share of £ 1.00 )	1	1
	1	1

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2020	2019
	£	£
Amounts owed by Twenty1 Limited, a company under common control	476,500	448,000
Amounts owed by Prestige Torquay Limited, a company under common control	5,320	(180)

No interest has been charged on these balances and there are no fixed dates for repayment.

Transactions with the entity's director

	2019	2020
	£	£
Amounts owed to Mr J Strydom, the director	707,199	656,488

No interest has been charged on this balance and there is no fixed date for repayment.