Company Registration No. 11528900 (England and Wales)
57 SELCROFT ROAD LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
57 SELCROFT ROAD LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
57 SELCROFT ROAD LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
1,242,200
1,229,955
Debtors
295,320
62,948
Cash at bank and in hand
3,975
1,370
1,541,495
1,294,273
Creditors: amounts falling due within one year
(1,630,004)
(1,334,783)
Net current liabilities
(88,509)
(40,510)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(88,609)
(40,610)
Total equity
(88,509)
(40,510)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 May 2023 and are signed on its behalf by:
Mr T Walker
Mr R Thomson
Director
Director
Company Registration No. 11528900
57 SELCROFT ROAD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information
57 Selcroft Road Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 43, The Cobalt Building, 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.3
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
4
Related party transactions
57 SELCROFT ROAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
4
Related party transactions
(Continued)
- 3 -
The director, Mr T Walker is also a director of Walker Capital Investments Ltd and Muniment Ltd. The company owes £936,883 (£867,883 - 2021) to Walker Capital Investments Ltd and £693,121 to Muniment Ltd.
The directors, Mr T Walker and Mr R Thomson are also directors of 59 Selcroft Road Ltd. The company is owed £295,019 (£62,200 - 2021) from 59 Selcroft Road Ltd.