Strikeray Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02385038 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

Strikeray Limited

Trading as

Axton Properties

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C R McSwiggan

Mrs G A McSwiggan

SECRETARY:

C R McSwiggan

REGISTERED OFFICE:

Rhewl House,

Axton Lane,

Holywell,

Flintshire

CH8 9DH

REGISTERED NUMBER:

02385038 (England and Wales)

ACCOUNTANTS:

McEwan Wallace Limited

68 Argyle Street

Birkenhead

CH41 6AF

FIXED ASSETS

Tangible assets

2

17,103

5,861

Investment property

3

191,557

208,660

197,418

CURRENT ASSETS

Stocks

16,510

18,018

Debtors

40,972

53,594

Cash at bank

25,020

36,927

82,502

108,539

CREDITORS

Amounts falling due within one year

2,284

8,540

NET CURRENT ASSETS

80,218

99,999

TOTAL ASSETS LESS CURRENT
LIABILITIES

288,878

297,417

CREDITORS

Amounts falling due after more than one
year

4

156,473

NET ASSETS

132,405

140,944

CAPITAL AND RESERVES

Called up share capital

5

236,000

Profit and loss account

(103,595

)

(95,056

)

SHAREHOLDERS' FUNDS

132,405

140,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 June 2017 and were signed on its
behalf by:

C R McSwiggan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the amount derived from the sale of properties and artwork, and is stated after

trade discounts, VAT and any other sales taxes where appropriate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Stocks

Properties and artwork held for resale are carried at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date. Deferred tax assets are only recognised when recovery is forecast with

reasonable certainty.

Other income

Other operating income is accounted for on a receipts basis and relates to rental income.

Interest receivable is accounted for on an accruals basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

33,040

Additions

21,450

Disposals

(18,990

)

At 30 September 2016

35,500

DEPRECIATION

At 1 October 2015

27,179

Charge for year

5,702

Eliminated on disposal

(14,484

)

At 30 September 2016

18,397

NET BOOK VALUE

At 30 September 2016

17,103

At 30 September 2015

5,861

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 October 2015

and 30 September 2016

191,557

NET BOOK VALUE

At 30 September 2016

191,557

At 30 September 2015

191,557

4.

CREDITORS

Creditors include an amount of £ 156,473 (30.9.15 - £ 156,473 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.9.16

30.9.15

£

Repayable by instalments

156,473

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

35,000

'A' Ordinary

£1

35,000

65,000

'B' Ordinary

£1

65,000

136,000

Preference

£1

136,000

236,000

The 'A' and 'B' Ordinary shares rank equally except for the automatic right to receive dividends. Any

such distributions are proposed and paid on a class by class basis.

The Preference shares rank higher than the Ordinary shares in respect of return of nominal value but

are not entitled to share in any excess net assets on dissolution.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2016

and 30 September 2015:

30.9.16

30.9.15

£

C R McSwiggan

Balance outstanding at start of year

40,155

53,755

Amounts advanced

15,538

22,677

Amounts repaid

(24,760

)

(36,277

)

Balance outstanding at end of year

30,933

40,155

At the year end the director, C R McSwiggan, owed the company £30,933 (2015 - £40,155). During

the year, C R McSwiggan was advanced £15,538 in numerous amounts spread evenly across the year.

No individual advance exceeded £1,000. Over the same period, £24,760 was repaid.

Loans are unsecured, have no interest charged upon them and have no fixed repayment terms.

7.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous accounting periods by the directors.