Sturry Road Holdings (UK) Limited - Accounts to registrar (filleted) - small 23.1
Sturry Road Holdings (UK) Limited - Accounts to registrar (filleted) - small 23.1
REGISTERED NUMBER: |
STURRY ROAD HOLDINGS (UK) LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
STURRY ROAD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 10680821) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
STURRY ROAD HOLDINGS (UK) LIMITED |
Company Information |
for the year ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
STURRY ROAD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 10680821) |
Balance Sheet |
31 March 2023 |
31/3/23 | 31/3/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
STURRY ROAD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 10680821) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Sturry Road Holdings (UK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The company's principal activity is that of property holding. The directors are therefore required to exercise their experience in the property market in terms of acquiring the right properties for rental and then for setting appropriate rental values and terms for those properties. The directors are also required to review the fair value of the investment properties regularly. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The company's properties are held for long-term investment and depreciation is not provided in respect of such properties. At the balance sheet date the investment properties are included at their fair value. This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The Directors consider that this policy is necessary in order that the financial statements may give a true and fair view. |
The Directors review the property portfolio on an annual basis and with their knowledge of the property market and by reference to any externally available information compare the fair value of the properties with carrying value. Any increases or decreases in fair value are taken to profit and loss account in the year net of any required deferred taxation. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
In accordance with FRS 102 the company makes provision for deferred tax on any gains arising as a result of increases in the properties fair values at the year end. As the tax provision would be based on any potential disposal value of the investment property, indexation allowance (up to the date of its withdrawal) is included in any potential deferred tax calculation. |
STURRY ROAD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 10680821) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2019 | 1,456,949 |
Cost | 13,543,051 |
15,000,000 |
The Directors have included the investment property at a fair value based upon an external report obtained by appropriately qualified experts. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Other creditors |