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Registration number: 08823440

Stk Offshore Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Stk Offshore Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Stk Offshore Limited

Company Information

Directors

Mr Simon Keulen

Mrs Tracy Jane Keulen

Registered office

75 Park Road
Peterborough
Cambridgeshire
PE1 2TN

 

Stk Offshore Limited

(Registration number: 08823440)
Balance Sheet as at 31 December 2021

Note

2021

2020

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

687

 

1,025

Current assets

   

 

Debtors

5

2,175

 

13,547

 

Cash at bank and in hand

 

103,745

 

75,853

 

 

105,920

 

89,400

 

Creditors: Amounts falling due within one year

6

(39,104)

 

(23,301)

 

Net current assets

   

66,816

 

66,099

Net assets

   

67,503

 

67,124

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

67,403

 

67,024

 

Total equity

   

67,503

 

67,124

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 9 May 2022 and signed on its behalf by:
 

.........................................
Mr Simon Keulen
Director

 

Stk Offshore Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
75 Park Road
Peterborough
Cambridgeshire
PE1 2TN
United Kingdom

The principal place of business is:
12 Crystal Drive
Peterborough
Cambridgeshire
PE2 9RJ
England

These financial statements were authorised for issue by the Board on 9 May 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Stk Offshore Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Stk Offshore Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

Stk Offshore Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2021

4,592

4,592

At 31 December 2021

4,592

4,592

Depreciation

At 1 January 2021

3,567

3,567

Charge for the year

338

338

At 31 December 2021

3,905

3,905

Carrying amount

At 31 December 2021

687

687

At 31 December 2020

1,025

1,025

5

Debtors

2021
£

2020
£

Trade debtors

40

11,412

Other debtors

2,135

2,135

2,175

13,547

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

18,699

21,842

Accruals and deferred income

776

956

Other creditors

19,629

503

39,104

23,301

7

Share capital

Allotted, called up and fully paid shares

 

Stk Offshore Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100