REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
JOHN STREET & COMPANY(SURREY)LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
JOHN STREET & COMPANY(SURREY)LIMITED |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
JOHN STREET & COMPANY(SURREY)LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
STATEMENT OF FINANCIAL POSITION |
31 MAY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
John Street & Company(Surrey)Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently. |
Significant judgements and estimates |
In the process of applying the company's accounting policies the directors consider there to be no significant judgements or estimates that have a significant effect on the amounts recognised in the financial statements. |
Turnover |
Turnover represents amounts receivable for insurance commission. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Investments |
Investments in shares and bonds are stated at fair value, based on share and bond prices at the year end. Changes in fair value are recognised in profit or loss. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. |
Debtors and creditors |
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Share capital |
Ordinary shares are classified as equity. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 June 2022 |
Revaluations | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 May 2023 is represented by: |
Other |
investments |
£ |
Valuation in 2017 | 656,424 |
Valuation in 2018 | 2,731 |
Valuation in 2019 | 6,432 |
Valuation in 2020 | (664,151 | ) |
Valuation in 2021 | 948 |
Valuation in 2022 | (494 | ) |
Valuation in 2023 | (158 | ) |
1,732 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 573 | 573 |
Fixed asset investments were valued on a fair value basis on 31 May 2023 by reference to share market prices . |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2022 | 86,400 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 86,400 | 86,400 |
Investment properties were valued to fair value on 31 May 2023 by the directors. |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 290 | 284 |
Deferred |
tax |
£ |
Balance at 1 June 2022 |
Provided during year |
Balance at 31 May 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
Deferred | £1 | 1,000 | 1,000 |
2,000 | 2,000 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2022 | 1,577,603 |
Profit for the year | - |
Reserve transfer | (17 | ) | 17 | - |
At 31 May 2023 | 1,720,605 |
The fair value reserve arose on the revaluation of fixed asset investments and is stated net of deferred tax. |
Retained earnings represents accumulated income for the year and prior periods. |
JOHN STREET & COMPANY(SURREY)LIMITED (REGISTERED NUMBER: 00472754) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | RELATED PARTY DISCLOSURES |
During the year the company was chargeD a management charge from Renatus Property Management Limited of £7,631 (2022 £4,145). |
Details of amounts due to and payable by companies under common control are shown below; the relevant amounts being included in debtors and creditors. No interest is payable or receivable on any of these balances. |
Included in debtors, amounts due from fellow group undertakings, are the following balances:- |
2023 | 2022 |
£ | £ |
Angeleon (Holdings) Limited | 1,391,178 | 1,391,178 |
Phoenix Treasury Management Limited | 455,698 | 455,696 |
Renatus Property Management Limited | 41,842,948 | 41,814,632 |
Street Family Group of Companies Limited | 3,812,308 | 3,812,308 |
Panorama Trust | 6,709 | 6,709 |
Sequent (Guernsey) Limited | 5,682 | 5,682 |
Total | 47,514,523 | 47,486,207 |
Included in other creditors, amounts due to fellow group undertakings, are the following balances:- |
2023 | 2022 |
£ | £ |
Carshalton Properties Limited | 21,302 | 21,302 |
Erskine Road (Properties) Sutton Limited | 2,662 | 2,662 |
St Phillips Garden Properties Limited | 7,212,521 | 7,212,521 |
Stokebridge Limited | 195,441 | 195,441 |
Strathurst Limited | 2,422,006 | 2,422,006 |
Street County (Agencies) Limited | 73,499 | 73,499 |
Stile Hall Properties Limited | 11,496,924 | 11,496,924 |
Established Estates (Twickenham) Limited | 11,637 | 11,637 |
Symons Family Group of Companies 2 Limited | 7,562,010 | 7,562,010 |
Street Family Group of Companies (Holdings) Limited | 16,857,749 | 16.857,749 |
Total | 45,855,751 | 45,855,751 |
Included in other creditors is an amount of £nil (2022: £232,010) due to The Estate of C Symons. |
At the year end the company owed £431 (2022: £431) to J Hudaly, sister of J Symons. |
14. | ULTIMATE CONTROLLING PARTY |
At the balance sheet date, the company was a 99.9% controlled subsidiary of The Street Family Group of Companies (Holdings) Limited, a company registered in England and Wales. The ultimate parent company is The Street Family Group of Companies Limited, a company incorporated in Jersey which is controlled by a discretionary trust. |