Strawberry Property Limited
Strawberry Property Limited
Registered number: 08899542
Unaudited Financial Statements
For The Year Ended
28 February 2023
Strawberry Property Limited
Unaudited Financial Statements
For The Year Ended
28 February 2023
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—7 |
Strawberry Property Limited
Balance Sheet
As At
28 February 2023
Balance Sheet
Registered number:
08899542
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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Investment Properties | 5 |
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CURRENT ASSETS | |||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 8 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 10 |
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Share premium account |
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Fair Value Reserve | 12 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 3,537,888 | 1,326,628 | |||
Strawberry Property Limited
Balance Sheet (continued)
As At
28 February 2023
On behalf of the board
Director
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The notes on pages 3 to 7 form part of these financial statements.
Strawberry Property Limited
Notes to the Financial Statements
For The Year Ended
28 February 2023
Notes to the Financial Statements
1.
General Information
Strawberry Property Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08899542
. The registered office is Unit 5 Stoke View Business Park, Stoke View Road, Bristol, BS16 3AE.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Letting of rental property
Turnover from rental property comprises of income earned from letting property. Rents and service charges from lettings are recognised net of losses from voids. Income is recognised from the date the property is first let.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Motor Vehicles |
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Office Equipment |
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2.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5.
Leases
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6.
Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Strawberry Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2023
2.7.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8.
Finance Costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
2.9.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.10.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3.
Average Number of Employees
The average number of employees, including directors, during the year was 8 (2022: 6)
Strawberry Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2023
4.
Tangible Assets
Plant & Machinery | Motor Vehicles | Office Equipment | Total | |
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Cost | ||||
As at
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Additions |
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As at
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Depreciation | ||||
As at
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Provided during the period |
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As at
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Net Book Value | ||||
As at
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As at
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5.
Investment Property
2023 | |
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Fair Value | |
As at
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Additions |
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As at
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6.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Prepayments and accrued income |
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Other debtors |
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Due after more than one year | |||
Other debtors |
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Directors loan account |
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Strawberry Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2023
7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance leases |
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Trade creditors |
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Other taxes and social security |
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Other creditors |
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Accruals and deferred income |
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8.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance leases |
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Other creditors |
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9.
Obligations Under Finance Leases
2023 | 2022 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
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11.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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£ | £ | £ | £ | £ | |
Dr Timothy Percival |
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Dr Klare Davis |
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The above loans are unsecured and subject to an interest charge of 3% per annum using a weighted average method.
Strawberry Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2023
12.
Reserves
Fair Value Reserve | |
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£ | |
As at
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Movements in fair value reserve | 2,513,480 |
As at
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