REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 April 2020 |
|
for |
|
Singlestrand Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 April 2020 |
|
for |
|
Singlestrand Limited |
Singlestrand Limited (Registered number: 02152124) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
Singlestrand Limited |
|
Company Information |
for the Year Ended 30 April 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
Singlestrand Limited (Registered number: 02152124) |
|
Statement of Financial Position |
30 April 2020 |
|
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Other reserves | 9 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
Singlestrand Limited (Registered number: 02152124) |
|
Statement of Financial Position - continued |
30 April 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
Singlestrand Limited (Registered number: 02152124) |
|
Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
|
1. | STATUTORY INFORMATION |
|
Singlestrand Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents rents receivable, excluding value added tax. Rent is recognised on a calendar basis. |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
|
Tangible fixed assets 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. |
|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement. |
|
Investment property |
Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis, are measured at fair value. Gains or losses arising from changes in the fair value of investment properties are included in the Income Statement, in the period in which they arise. |
|
Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis, are included other fixed assets at cost less accumulated depreciation and accumulated impairment losses. |
|
Financial instruments |
Debtors - short term debtors are measured at transaction price, less any impairment. |
|
Creditors - short term creditors are measured at transaction price. |
|
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. |
|
Singlestrand Limited (Registered number: 02152124) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
|
DEPRECIATION |
At 1 May 2019 |
|
Charge for year |
|
At 30 April 2020 |
|
NET BOOK VALUE |
At 30 April 2020 |
|
At 30 April 2019 |
|
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
and 30 April 2020 |
|
NET BOOK VALUE |
At 30 April 2020 |
|
At 30 April 2019 |
|
Singlestrand Limited (Registered number: 02152124) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
|
5. | INVESTMENT PROPERTY - continued |
|
Fair value at 30 April 2020 is represented by: |
|
£ |
Valuation in 2012 | 1,062,444 |
Valuation in 2017 | 650,000 |
Cost | 87,556 |
1,800,000 |
|
If Investment property had not been revalued it would have been included at the following historical cost: |
|
2020 | 2019 |
£ | £ |
Cost | 87,556 | 87,556 |
|
Investment property was valued on an open market basis on 30 April 2019 by the director . |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by related companies | 143,379 | 145,981 |
Prepayments and accrued rent |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Corporation tax |
|
|
Other creditors |
|
|
Amounts owed to related company | 41,282 | 30,884 |
Director's current account | 3,343 | 3,343 |
Accruals and deferred rent |
|
|
|
|
|
8. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 302,614 | 319,434 |
|
Deferred |
tax |
£ |
Balance at 1 May 2019 |
|
Deferred tax | (16,820 | ) |
Balance at 30 April 2020 |
|
Singlestrand Limited (Registered number: 02152124) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
|
9. | RESERVES |
Other |
reserves |
£ |
At 1 May 2019 |
|
Movement in year | 16,808 |
|
At 30 April 2020 |
|
|
Other reserves represent revaluation gains on investment properties and are not distributable. |
|
A deferred tax provision has been recognised against the revaluation gains. |
|
10. | RELATED PARTY DISCLOSURES |
|
Amounts owed to and from related companies are loans with companies in which the director has a material interest. Amounts are interest free and repayable on demand. |