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Registration number: 04692268

South Staffs Surveys Limited

trading as stafsurv

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

South Staffs Surveys Limited

trading as stafsurv

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

South Staffs Surveys Limited

trading as stafsurv

Company Information

Directors

Mr R P Groves

Mrs S J Groves

Company secretary

Mrs S J Groves

Registered office

Vernon Courtyard
Main Road
Sudbury
Derbyshire
DE6 5HS

Accountants

MAS Associates Ltd
Chartered Certified Accountants
Spear House
Cobbett Road
Burntwood
Staffordshire
WS7 3GR

 

South Staffs Surveys Limited

trading as stafsurv

(Registration number: 04692268)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

142,362

154,550

Current assets

 

Debtors

5

340,746

618,799

Cash at bank and in hand

 

493,977

60,027

 

834,723

678,826

Creditors: Amounts falling due within one year

6

(293,074)

(198,031)

Net current assets

 

541,649

480,795

Total assets less current liabilities

 

684,011

635,345

Creditors: Amounts falling due after more than one year

6

(68,950)

(131,567)

Net assets

 

615,061

503,778

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

614,961

503,678

Shareholders' funds

 

615,061

503,778

For the financial year ending 31 March 2023 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 10 October 2023 and signed on its behalf by:
 

 

South Staffs Surveys Limited

trading as stafsurv

(Registration number: 04692268)
Balance Sheet as at 31 March 2023

.........................................
Mr R P Groves
Director

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Vernon Courtyard
Main Road
Sudbury
Derbyshire
DE6 5HS
England

These financial statements were authorised for issue by the Board on 10 October 2023.

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 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.

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.

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

Plant & machinery

25% on cost

Furniture & fittings

20% on cost

Motor vehicles

20% on cost

Office equipment

33% on cost

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.

Borrowings

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 7).

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2022

914

191,044

15,205

144,153

Additions

-

33,745

5,856

-

Disposals

-

-

(2,070)

-

At 31 March 2023

914

224,789

18,991

144,153

Depreciation

At 1 April 2022

683

138,687

13,388

44,008

Charge for the year

59

20,647

2,253

28,830

Eliminated on disposal

-

-

(2,070)

-

At 31 March 2023

742

159,334

13,571

72,838

Carrying amount

At 31 March 2023

172

65,455

5,420

71,315

At 31 March 2022

231

52,357

1,817

100,145

Total
£

Cost or valuation

At 1 April 2022

351,316

Additions

39,601

Disposals

(2,070)

At 31 March 2023

388,847

Depreciation

At 1 April 2022

196,766

Charge for the year

51,789

Eliminated on disposal

(2,070)

At 31 March 2023

246,485

Carrying amount

At 31 March 2023

142,362

At 31 March 2022

154,550

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

317,862

317,682

Prepayments

22,884

21,117

Other debtors

-

280,000

 

340,746

618,799

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

62,617

61,006

Trade creditors

 

79,454

16,624

Taxation and social security

 

148,398

118,201

Accruals and deferred income

 

2,590

2,185

Other creditors

 

15

15

 

293,074

198,031

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

68,950

131,567

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

14,894

31,178

Other borrowings

54,056

100,389

68,950

131,567

 

South Staffs Surveys Limited

trading as stafsurv

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

16,284

22,395

Other borrowings

46,333

38,611

62,617

61,006