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REGISTERED NUMBER: 02560780 (England and Wales)









STRATEGIC TECHNOLOGY INITIATIVES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022






STRATEGIC TECHNOLOGY INITIATIVES LIMITED (REGISTERED NUMBER: 02560780)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STRATEGIC TECHNOLOGY INITIATIVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTORS: J Fahey
K Fahey





SECRETARY: J Fahey





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





BUSINESS ADDRESS: 11 Powell Road
Newick
East Sussex
BN8 4LS





REGISTERED NUMBER: 02560780 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

STRATEGIC TECHNOLOGY INITIATIVES LIMITED (REGISTERED NUMBER: 02560780)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,547 2,440

CURRENT ASSETS
Debtors 5 766 6,792
Cash at bank 3,036 1
3,802 6,793
CREDITORS
Amounts falling due within one year 6 5,636 10,595
NET CURRENT LIABILITIES (1,834 ) (3,802 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

713

(1,362

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 711 (1,364 )
SHAREHOLDERS' FUNDS 713 (1,362 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





J Fahey - Director


STRATEGIC TECHNOLOGY INITIATIVES LIMITED (REGISTERED NUMBER: 02560780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022


1. STATUTORY INFORMATION

Strategic Technology Initiatives Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for customer discounts and other similar allowances.

Revenue from the provision of courses is recognised at the point the service is delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

STRATEGIC TECHNOLOGY INITIATIVES LIMITED (REGISTERED NUMBER: 02560780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2021 24,283 7,865 32,148
Additions 532 - 532
At 31 October 2022 24,815 7,865 32,680
DEPRECIATION
At 1 November 2021 22,244 7,464 29,708
Charge for year 365 60 425
At 31 October 2022 22,609 7,524 30,133
NET BOOK VALUE
At 31 October 2022 2,206 341 2,547
At 31 October 2021 2,039 401 2,440

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 766 6,792

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 1,325
Trade creditors - 960
Taxation and social security 304 956
Other creditors 5,332 7,354
5,636 10,595

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2