Company registration number 07305647 (England and Wales)
STB SAFETY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
STB SAFETY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
STB SAFETY LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STB SAFETY LTD FOR THE YEAR ENDED 31 JULY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of STB Safety Ltd for the year ended 31 July 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of STB Safety Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of STB Safety Ltd and state those matters that we have agreed to state to the Board of Directors of STB Safety Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STB Safety Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that STB Safety Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of STB Safety Ltd. You consider that STB Safety Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of STB Safety Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Azets
28 February 2024
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
STB SAFETY LTD
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,211
1,425
Current assets
Debtors
4
4,463
5,424
Cash at bank and in hand
39,181
42,540
43,644
47,964
Creditors: amounts falling due within one year
5
(6,349)
(7,030)
Net current assets
37,295
40,934
Total assets less current liabilities
38,506
42,359
Provisions for liabilities
(303)
(271)
Net assets
38,203
42,088
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
38,202
42,087
Total equity
38,203
42,088
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 February 2024
S T Brydon
Director
Company Registration No. 07305647
STB SAFETY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
STB Safety Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 89 Albemarle Avenue, Gosport, Hampshire, United Kingdom, PO12 4HS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised upon the rising of a sales invoice monthly for regular customers and at completion of the assignment for non reoccurring work.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
Computers
15% reducing balance and 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
STB SAFETY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 August 2022 and 31 July 2023
7,749
8,680
16,429
Depreciation and impairment
At 1 August 2022
7,239
7,765
15,004
Depreciation charged in the year
77
137
214
At 31 July 2023
7,316
7,902
15,218
Carrying amount
At 31 July 2023
433
778
1,211
At 31 July 2022
510
915
1,425
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,891
5,205
Other debtors
572
219
4,463
5,424
STB SAFETY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,477
3,956
Other taxation and social security
(2)
13
Other creditors
3,874
3,061
6,349
7,030