Company No: 10693754 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	Charles More
	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

	Note	2021		2020
		£		£
Fixed assets
Investment property	3	450,000		450,000
Investments		833,340		0
		1,283,340		450,000
Current assets
Debtors	4	442,383		481,820
Cash at bank and in hand		115,097		15,157
		557,480		496,977
Creditors
Amounts falling due within one year	5	( 1,519,991)		( 708,376)
Net current liabilities		(962,511)		(211,399)
Total assets less current liabilities		320,829		238,601
Provisions for liabilities	6	( 46,786)		( 44,600)
Net assets		274,043		194,001
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		274,042		194,000
Total shareholder's funds		274,043		194,001

For the financial year ending 31 March 2021 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 Board of Directors on 24 March 2022. 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 registered number of the company is 10693754. 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 is 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.

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

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		1

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2020	450,000
As at 31 March 2021	450,000

4. Debtors

	2021		2020
	£		£
Other debtors	442,383		481,820

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Amounts owed to directors	1,500,539		707,199
Other creditors	1,680		0
Accruals	1,189		1,177
Corporation tax	16,583		0
	1,519,991		708,376

6. Deferred tax

	2021		2020
	£		£
At the beginning of financial year	( 44,600)		( 40,172)
Charged to the Statement of Income and Retained Earnings	( 2,186)		( 4,428)
At the end of financial year	( 46,786)		( 44,600)

7. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Related party transactions

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

	2021		2020
	£		£
Amounts owed by Twenty1 Limited, a company under common control	442,383		476,500
Amounts owed to Prestige Torquay Limited, a company under common control	(1,680)		5,320

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

Transactions with the entity's directors

	2021		2020
	£		£
Amounts owed to Mr J Strydom, the director	1,500,539		707,199

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