REGISTERED NUMBER: |
Financial Statements |
for the Period 3 November 2021 to 31 December 2022 |
for |
Standard Industries UK Ltd |
REGISTERED NUMBER: |
Financial Statements |
for the Period 3 November 2021 to 31 December 2022 |
for |
Standard Industries UK Ltd |
Standard Industries UK Ltd (Registered number: 13722572) |
Contents of the Financial Statements |
for the Period 3 November 2021 to 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Standard Industries UK Ltd |
Company Information |
for the Period 3 November 2021 to 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
& Statutory Auditors |
71-75 Shelton Street |
London |
WC2H 9JQ |
Standard Industries UK Ltd (Registered number: 13722572) |
Balance Sheet |
31 December 2022 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Standard Industries UK Ltd (Registered number: 13722572) |
Notes to the Financial Statements |
for the Period 3 November 2021 to 31 December 2022 |
1. | STATUTORY INFORMATION |
Standard Industries UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the period 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Standard Industries UK Ltd (Registered number: 13722572) |
Notes to the Financial Statements - continued |
for the Period 3 November 2021 to 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Provisions |
Provisions are recognised when the company has a present obligation as a result of a past event for which it is probable that there will be an outflow of economic benefits that can be reasonably estimated. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
Additions |
At 31 December 2022 |
DEPRECIATION |
Charge for period |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Standard Industries UK Ltd (Registered number: 13722572) |
Notes to the Financial Statements - continued |
for the Period 3 November 2021 to 31 December 2022 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 0.01 | 1 |
100 Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the period. |
1 Ordinary share of £0.01 each was allotted as fully paid at a premium of £785,439.99 per share during the period. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date, other financial commitments totalled £Nil. |
11. | POST BALANCE SHEET EVENTS |
On 14th March 2023 the company issued 1 additional ordinary share of £0.01 for a premium of £785,440 to its parent company Standard Building Solutions Inc. |
12. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Standard Building Solutions Inc.a company incorporated in the United States of America. |
The ultimate parent company is G Holdings, LLC. a company incorporated in the United States of America. The smallest group of which the company is a member and for which group accounts are prepared is headed by Standard Building Solutions Inc. with its registered office of 9 West 57th Street, 47th Floor, New York, NY10019, United States. |
The ultimate controlling party is G Holdings, LLC. |