Company Registration No. 11118207 (England and Wales)
St Clements Lakes 361 Limited
Unaudited accounts
for the year ended 31 December 2023
St Clements Lakes 361 Limited
Unaudited accounts
Contents
St Clements Lakes 361 Limited
Company Information
for the year ended 31 December 2023
Director
Jagjit Singh Johal
Company Number
11118207 (England and Wales)
Registered Office
The Whinnies, Church Road
Hartley
Longfield
DA3 8DJ
United Kingdom
Accountants
Workabee Accountants
Sharon Gillett BSc FCA
11 Chestnut Avenue
Buckhurst Hill
Essex
IG9 6EN
St Clements Lakes 361 Limited
Statement of financial position
as at 31 December 2023
Investment property
500,000
495,000
Cash at bank and in hand
6,436
5,432
Creditors: amounts falling due within one year
(152,823)
(148,939)
Net current liabilities
(134,660)
(131,776)
Total assets less current liabilities
365,340
363,224
Creditors: amounts falling due after more than one year
(300,858)
(304,124)
Provisions for liabilities
Deferred tax
(16,084)
(11,906)
Called up share capital
1
1
Profit and loss account
48,397
47,193
Shareholders' funds
48,398
47,194
For the year ending 31 December 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 January 2024 and were signed on its behalf by
Jagjit Singh Johal
Director
Company Registration No. 11118207
St Clements Lakes 361 Limited
Notes to the Accounts
for the year ended 31 December 2023
St Clements Lakes 361 Limited is a private company, limited by shares, registered in England and Wales, registration number 11118207. The registered office is The Whinnies, Church Road, Hartley, Longfield, DA3 8DJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises of rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost.
Fair value at 1 January 2023
495,000
Net gain from fair value adjustments
5,000
At 31 December 2023
500,000
Valuation of properties is based on director valuations.
St Clements Lakes 361 Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Accrued income and prepayments
339
343
Other debtors
11,388
11,388
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
17,789
14,405
Other creditors
1,788
1,788
Loans from directors
132,504
132,066
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
300,858
304,124
Aggregate of amounts that fall due for payment after five years
229,702
246,503
The bank loans (mortgage) are secured against the value of the investment property.
8
Deferred taxation
2023
2022
Revaluation of investment property
16,153
12,048
Tax losses carried forward
(69)
(142)
Provision at start of year
11,906
10,510
Charged to the profit and loss account
4,178
1,396
Provision at end of year
16,084
11,906
9
Transactions with related parties
As at 31 December 2023, amounts owed to directors totalled £132,504 (2022: £132,066).
No interest is charged on money owed and the amounts are repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).