Selwood House (St Austell) Limited - Period Ending 2022-06-30

Selwood House (St Austell) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Selwood House (St Austell) Limited

Company Information

Director

K E Betts

Registered office

5 Deansway Worcester WR1 2JG

Solicitors

Harrison Clark Rickerbys 5 Deansway Worcester Worcestershire WR1 2JG

Bankers

Santander UK PLC 1st Floor 5 Market Place Derby DE1 3PY

Accountants

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Selwood House (St Austell) Limited

(Registration number: 06924674)
Balance Sheet as at 30 June 2022

	Note	2022  £	2021  £
Current assets
Debtors	4	101	101
Creditors: Amounts falling due within one year	5	(65,455)	(65,455)
Total assets less current liabilities		(65,354)	(65,354)
Creditors: Amounts falling due after more than one year	5	(1)	(1)
Net liabilities		(65,355)	(65,355)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(65,455)	(65,455)
Total equity		(65,355)	(65,355)

For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 January 2023
 

K E Betts
Director

Selwood House (St Austell) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Deansway
Worcester
WR1 2JG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

The company is currently dormant and the principal creditor has confirmed that it will not seek repayment of the debt due, until the time as the company has the funds to do so.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Selwood House (St Austell) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

	2022  No.	2021  No.
Average number of employees	1	1

Selwood House (St Austell) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

4

Debtors

	2022  £	2021  £
Other debtors	101	101

5

Creditors

	2022  £	2021  £
Due within one year
Amounts due to related parties	3,245	3,245
Other creditors	62,210	62,210
	65,455	65,455
Due after one year
Other non-current financial liabilities	1	1

One reedemable preference share was issued to C Norman during a prior period. The holder of the preference share has no voting rights. The preference share is redeemable on the winding up of the company or if the company gives at least 14 days notice to the shareholders of its intention to redeem the share. The redemption price will not carry a premium above its par value unless agreed otherwise between the director and shareholder. The issued preference share can be converted into an ordinary share at any date from 28 July 2011 onwards at the option of the shareholder.

6

Parent and ultimate parent undertaking

The company is controlled by the Estate of C Norman (deceased).