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Registration number: 12591313

Stream Sensing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Stream Sensing Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Stream Sensing Ltd

Company Information

Directors

BS Hoyle

KM Primrose

RM Travis

Registered office

Suite 101
Sunlight House
85 Quay Street
Manchester
M3 3JZ

Accountants

McKellens
Chartered Accountants
11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

 

Stream Sensing Ltd

(Registration number: 12591313)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

609,005

475,169

Tangible assets

5

3,237

2,989

 

612,242

478,158

Current assets

 

Debtors

6

99,412

109,337

Cash at bank and in hand

 

11,084

289,363

 

110,496

398,700

Creditors: Amounts falling due within one year

7

(84,173)

(45,448)

Net current assets

 

26,323

353,252

Net assets

 

638,565

831,410

Capital and reserves

 

Called up share capital

8

177

177

Share premium reserve

1,081,018

1,081,018

Retained earnings

(442,630)

(249,785)

Shareholders' funds

 

638,565

831,410

For the financial year ending 31 May 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2023 and signed on its behalf by:
 

.........................................
BS Hoyle
Director

.........................................
KM Primrose
Director

 
     
 

Stream Sensing Ltd

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

1

General information

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

The address of its registered office is:
Suite 101
Sunlight House
85 Quay Street
Manchester
M3 3JZ

These financial statements were authorised for issue by the Board on 30 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.

 

Stream Sensing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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

Computer equipment

25% pa on a straight line basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Research and development

10% pa on a straight line basis

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.

 

Stream Sensing Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 2).

4

Intangible assets

Intellectual property rights
 £

Research and development
 £

Total
£

Cost or valuation

At 1 June 2022

177,398

352,535

529,933

Additions

6,227

189,193

195,420

At 31 May 2023

183,625

541,728

725,353

Amortisation

At 1 June 2022

25,805

55,004

80,809

Amortisation charge

18,185

17,354

35,539

At 31 May 2023

43,990

72,358

116,348

Carrying amount

At 31 May 2023

139,635

469,370

609,005

At 31 May 2022

151,593

323,576

475,169

 

Stream Sensing Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

3,724

3,724

Additions

1,358

1,358

At 31 May 2023

5,082

5,082

Depreciation

At 1 June 2022

919

919

Charge for the year

926

926

At 31 May 2023

1,845

1,845

Carrying amount

At 31 May 2023

3,237

3,237

At 31 May 2022

2,989

2,989

6

Debtors

2023
£

2022
£

Trade debtors

25,824

-

Prepayments

7,332

5,848

Other debtors

66,256

103,489

99,412

109,337

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

14,434

18,719

Taxation and social security

5,670

7,012

Accruals and deferred income

63,460

19,497

Other creditors

609

220

84,173

45,448

 

Stream Sensing Ltd

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

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.01 each

10,319

103

10,319

103

Ordinary A1 shares of £0.01 each

6,576

66

6,576

66

Ordinary A2 shares of £0.01 each

768

8

768

8

 

17,663

177

17,663

177

9

Share Options

2023
£

2022
£

Share options in issue at 31 May 2023

Ordinary 1p shares at 6.28p (exercisable until 30th May 2033)

2,067

-