Stratford Collins Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07905739 (England and Wales)

STRATFORD COLLINS ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A C Shakespeare

Mr S G Williams

REGISTERED OFFICE:

Treetops

Graig Penllyn

Cowbridge

Vale of Glamorgan

CF71 7RT

REGISTERED NUMBER:

07905739 (England and Wales)

ACCOUNTANTS:

Carston Chartered Accountants

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Investment property

4

490,000

346,984

CURRENT ASSETS

Debtors

5

67

11,957

Cash at bank

1

1

68

11,958

CREDITORS

Amounts falling due within one year

6

382,946

374,803

NET CURRENT LIABILITIES

(382,878

)

(362,845

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,122

(15,861

)

PROVISIONS FOR LIABILITIES

25,000

-

NET ASSETS/(LIABILITIES)

82,122

(15,861

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

82,022

(15,961

)

82,122

(15,861

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 22nd March 2023 and were signed on its behalf by:

Mr A C Shakespeare - Director

Mr S G Williams - Director

1.	STATUTORY INFORMATION

Stratford Collins Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Government grants

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.

Investment property

Investment properties are stated at open market value.

Taxation

Taxation for the year 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 year 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.

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 year was 2 (2021 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2021

346,984

Additions

11,330

Revaluations

131,686

At 31st March 2022

490,000

NET BOOK VALUE

At 31st March 2022

490,000

At 31st March 2021

346,984

Fair value at 31st March 2022 is represented by:

£

Valuation in 0

131,706

Cost

358,294

490,000

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

358,314

346,984

investment property was valued on an open market basis on 31st March 2022 by a qualified third party .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

67

11,957

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

11,771

3,698

Amounts owed to associates

750

750

Other creditors

370,425

370,355

382,946

374,803

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Other loans

366,000

366,000

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.

8.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the company sold its sole investment property for a gross consideration of £490,000. The full effect of this sale including related selling expenses and repayment of associated loans will be shown in the financial statements for the financial period in which the sale took place.