Registered number:
01249617
C.A. Strawson Energy Limited
Financial statements
Information for filing with the registrar
for the year ended
31 January 2021
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C.A. Strawson Energy Limited
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Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of C.A. Strawson Farming Limited
for the year ended 31 January 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.A. Strawson Energy Limited for the year ended 31 January 2021 which comprise the balance sheet, the statement of changes in equity
and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of C.A. Strawson Energy Limited, as a body, in accordance with the terms of our engagement letter dated
20 June 2019. Our work has been undertaken solely
to prepare for your approval the financial statements of C.A. Strawson Energy Limited and state those matters that we have agreed to state to the board of directors of C.A. Strawson Energy Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.A. Strawson Energy Limited and its board of directors, as a body, for our work or for this report.
It is your duty to ensure that C.A. Strawson Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.A. Strawson Energy Limited. You consider that C.A. Strawson Energy Limited is exempt from the statutory audit requirement for the year.
We
have not been instructed to carry out an audit or review of the financial statements of C.A. Strawson Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys
Faversham
11 January 2022
Page 1
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C.A. Strawson Energy Limited
Registered number:
01249617
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Balance sheet
as at
31 January 2021
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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Page 2
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C.A. Strawson Energy Limited
Registered number:
01249617
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Balance sheet
(continued)
as at
31 January 2021
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 5 to 10 form part of these financial statements.
Page 3
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C.A. Strawson Energy Limited
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Statement of changes in equity
for the year ended
31 January 2021
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Capital redemption reserve
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Deficit on revaluation of freehold property
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Dividends: Equity capital
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Dividends: Equity capital
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The notes on pages 5 to 10 form part of these financial statements.
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Page 4
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
C. A. Strawson Farming Limited is a private company, limited by shares and incorporated in England and Wales.
The company number is 01249617 and address of the registered office is Hexgreave Hall, Upper Hexgreave Farnsfield, Newark, Nottinghamshire, NG22 8LS.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The financial statements are presented in pound sterling and all values are rounded to the nearest pound (£) except where otherwise indicated.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 5
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
2.
Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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The average monthly number of employees, including directors, during the year was
2
(2020 -
2
)
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Page 6
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
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Charge for the year on owned assets
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Page 7
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Page 8
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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The bank loans and overdraft are secured over the freehold property owned by the company.
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At the beginning of the year
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Credited to the profit and loss account
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Page 9
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C.A. Strawson Energy Limited
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Notes to the financial statements
for the year ended 31 January 2021
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Related party transactions
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During the year, £
- was lent to a company under the control of a
family member of C A Strawson and R M Strawson
. An amount of £
- was repaid during the year. At the year end £
204,024
was due to the company. This amount is shown in other debtors, is unsecured and interest free.
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The company is under the control of the trustees of the C.A. Strawson 1997 No.1 Discretionary Settlement.
Page 10
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