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REGISTERED NUMBER: 03119560 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

STM Engineering Limited

STM Engineering Limited (Registered number: 03119560)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


STM Engineering Limited (Registered number: 03119560)

Balance Sheet
31 July 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 5 1,456,904 1,511,126
Investments 6 193,141 193,141
1,650,045 1,704,267

Current assets
Stocks 251,136 287,543
Debtors 7 1,266,717 867,470
Cash at bank and in hand 2,556,998 2,189,549
4,074,851 3,344,562
Creditors
Amounts falling due within one year 8 (650,843 ) (702,070 )
Net current assets 3,424,008 2,642,492
Total assets less current liabilities 5,074,053 4,346,759

Creditors
Amounts falling due after more than one
year

9

(1,571

)

(83,907

)

Provisions for liabilities (86,458 ) (51,775 )
Net assets 4,986,024 4,211,077

Capital and reserves
Called up share capital 102 102
Retained earnings 4,985,922 4,210,975
4,986,024 4,211,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

STM Engineering Limited (Registered number: 03119560)

Balance Sheet - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





Mr G Shears - Director


STM Engineering Limited (Registered number: 03119560)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. Statutory information

STM Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03119560

Registered office: Masco House
Shuttleworth Close
Gapton Hall Industrial Estate
Great Yarmouth
Norfolk
NR31 0NQ

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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
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.

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 20% on reducing balance
Motor vehicles - 33% on cost
Fixtures and fittings - 25% on reducing balance

Freehold property is not depreciated.

STM Engineering Limited (Registered number: 03119560)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


3. Accounting policies - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventory
Inventories have been valued at the lower of cost and net estimated selling price, less costs to sell.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventory to their present location and condition.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


STM Engineering Limited (Registered number: 03119560)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employees and directors

The average number of employees during the year was 31 (2022 - NIL ) .

STM Engineering Limited (Registered number: 03119560)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 August 2022 1,101,763 651,427 65,449 288,633 2,107,272
Additions 9,291 76,216 3,393 57,666 146,566
Disposals - - - (137,000 ) (137,000 )
At 31 July 2023 1,111,054 727,643 68,842 209,299 2,116,838
Depreciation
At 1 August 2022 - 429,105 56,847 110,194 596,146
Charge for year - 59,708 4,992 33,338 98,038
Eliminated on disposal - - - (34,250 ) (34,250 )
At 31 July 2023 - 488,813 61,839 109,282 659,934
Net book value
At 31 July 2023 1,111,054 238,830 7,003 100,017 1,456,904
At 31 July 2022 1,101,763 222,322 8,602 178,439 1,511,126

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 August 2022
and 31 July 2023 193,141
Net book value
At 31 July 2023 193,141
At 31 July 2022 193,141

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 697,648 836,147
Amounts owed by group undertakings 309,497 -
Other debtors 259,572 31,323
1,266,717 867,470

STM Engineering Limited (Registered number: 03119560)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


8. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts 6,285 31,726
Trade creditors 314,589 419,708
Amounts owed to group undertakings - 18,149
Taxation and social security 241,494 162,956
Other creditors 88,475 69,531
650,843 702,070

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Hire purchase contracts 1,571 83,907

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£ £
Mr G Shears and Mrs S Shears
Balance outstanding at start of year (1,397 ) (1,333 )
Amounts advanced 1,259,543 174,036
Amounts repaid (1,044,000 ) (174,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 214,146 (1,397 )

11. Related party disclosures

At the year end, a balance of £309,497 was owed by N J Short Engineering Limited, of which Mr G Shears and Mrs S Shears are directors.

At the year end, a balance of £16,806 was owed to STM Rewinds Limited, of which Mr G Shears and Mrs S Shears are directors.