Stratford Collins Associates Limited - Accounts to registrar (filleted) - small 18.2
Stratford Collins Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| STRATFORD COLLINS ASSOCIATES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| STRATFORD COLLINS ASSOCIATES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Tudor House |
| 16 Cathedral Road |
| Cardiff |
| CF11 9LJ |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| BALANCE SHEET |
| 31ST MARCH 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| BALANCE SHEET - continued |
| 31ST MARCH 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Stratford Collins Associates Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| 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. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
| - The valuation of the company's freehold investment properties. |
| Turnover |
| Turnover comprises rental income receivable. |
| Investment property |
| Investment properties are stated at cost which comprises the original purchase price plus associated legal and professional fees relating to the acquisition.. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The COVID-19 pandemic has had a significant negative impact on the UK economy, and whilst the consequences of COVID-19 on the company has been limited during the year and since the year end, the directors recognise that in the longer term its effect may be more significant. At this point in time any long-term effect -on the company is unknown, but the directors remain confident of the financial position of the company. The directors believe that the company has sufficient reserves to withstand any further economic downturns created by the pandemic and are confident that it is correct to prepare the accounts on a going concern basis. |
| Going concern |
| Government grants are recognised over the period for which the grant is intended to compensate. Grants that are receivable as compensation for expenses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
| Repairs and maintenance |
| In the absence of a specific intention by the board of either a disposition or substantial reconstruction of letting units in investment properties, all expenditure incurred on general repair, maintenance and upgrade is written off as incurred. It is the opinion of the board that the nature of the company's property ownership is such that any appreciation in value is due to the passage of time rather than intent to improve as policy and is as such reflected through the revaluation reserve. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st February 2020 |
| and 31st March 2021 |
| NET BOOK VALUE |
| At 31st March 2021 |
| At 31st January 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| STRATFORD COLLINS ASSOCIATES LIMITED (REGISTERED NUMBER: 07905739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST FEBRUARY 2020 TO 31ST MARCH 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to associates | 750 | 750 |
| Other creditors |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Other loans |
| Other loans amounting to £366,000 are secured on the company's investment property and bear interest at market rates. The loans are interest only and will be repaid either through the sale of the related property or a refinancing by the company. |