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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021 |
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STREET ACQUISITIONS LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021 |
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FOR |
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STREET ACQUISITIONS LTD |
STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 28 February 2021 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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STREET ACQUISITIONS LTD |
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COMPANY INFORMATION |
for the Year Ended 28 February 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
30 Binley Road |
Coventry |
West Midlands |
CV3 1JA |
STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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ABRIDGED BALANCE SHEET |
28 February 2021 |
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28.2.21 | 29.2.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors |
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Investments |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves | ( |
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Retained earnings | ( |
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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. |
STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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ABRIDGED BALANCE SHEET - continued |
28 February 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 28 February 2021 |
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1. | STATUTORY INFORMATION |
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Street Acquisitions Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises rents received from tenants. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 28 February 2021 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 March 2020 |
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Additions |
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At 28 February 2021 |
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DEPRECIATION |
At 1 March 2020 |
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Charge for year |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 March 2020 |
and 28 February 2021 | 598,038 |
NET BOOK VALUE |
At 28 February 2021 | 598,038 |
At 29 February 2020 | 598,038 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 March 2020 |
and 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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Fair value at 28 February 2021 is represented by: |
£ |
Valuation in 2019 | 741,401 |
Valuation in 2020 | (636,401 | ) |
105,000 |
STREET ACQUISITIONS LTD (REGISTERED NUMBER: 11215252) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 28 February 2021 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2021 and 29 February 2020: |
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28.2.21 | 29.2.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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8. | RELATED PARTY DISCLOSURES |
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Street Acquisitions Limited own 100% of the shareholding in Street Acquisitions Bowlalley Lane Limited. |
Mr M Streets is a director of both Street Acquisitions Limited and Street Acquisitions Bowlalley Lane Limited. |
As at 28 February 2021, Street Acquisitions Limited is owed £228,389 by Street Acquisitions Bowlalley Lane Limited. |
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As at 28 February 2021, Street Acquisitions Limited owe £339,348 to Suffolk Chambers Limited. Mr M Streets is a director of both Street Acquisitions Limited and Suffolk Chambers Limited. |
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Street Acquisitions Limited has an outstanding loan balance of £35,060 with Exponential Group Limited. No interest has been charged by the company in respect of this loan which is repayable on demand and classified in debtors due within one year. Mr M Streets is a director of both Street Acquisitions Limited and Exponential Group Limited. |