IRIS Accounts Production v23.4.0.336 09334630 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false 1330 7807 9137 1411 81 1330 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093346302022-12-31093346302023-12-31093346302023-01-012023-12-31093346302021-12-31093346302022-01-012022-12-31093346302022-12-3109334630ns15:EnglandWales2023-01-012023-12-3109334630ns14:PoundSterling2023-01-012023-12-3109334630ns10:Director12023-01-012023-12-3109334630ns10:Director22023-01-012023-12-3109334630ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109334630ns10:SmallEntities2023-01-012023-12-3109334630ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109334630ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109334630ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109334630ns10:FullAccounts2023-01-012023-12-310933463041ns10:Director12022-12-310933463041ns10:Director12021-12-310933463041ns10:Director12022-01-012022-12-310933463041ns10:Director12023-01-012023-12-310933463041ns10:Director12023-12-310933463041ns10:Director12022-12-3109334630ns10:RegisteredOffice2023-01-012023-12-3109334630ns5:CurrentFinancialInstruments2023-12-3109334630ns5:CurrentFinancialInstruments2022-12-3109334630ns5:Non-currentFinancialInstruments2023-12-3109334630ns5:Non-currentFinancialInstruments2022-12-3109334630ns5:ShareCapital2023-12-3109334630ns5:ShareCapital2022-12-3109334630ns5:RetainedEarningsAccumulatedLosses2023-12-3109334630ns5:RetainedEarningsAccumulatedLosses2022-12-3109334630ns5:PlantMachinery2023-01-012023-12-3109334630ns5:FurnitureFittings2023-01-012023-12-3109334630ns5:ComputerEquipment2023-01-012023-12-3109334630ns5:PlantMachinery2022-12-3109334630ns5:FurnitureFittings2022-12-3109334630ns5:ComputerEquipment2022-12-3109334630ns5:PlantMachinery2023-12-3109334630ns5:FurnitureFittings2023-12-3109334630ns5:ComputerEquipment2023-12-3109334630ns5:PlantMachinery2022-12-3109334630ns5:FurnitureFittings2022-12-3109334630ns5:ComputerEquipment2022-12-3109334630ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109334630ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109334630ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3109334630ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3109334630ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3109334630ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3109334630ns5:WithinOneYear2023-12-3109334630ns5:WithinOneYear2022-12-3109334630ns5:BetweenOneFiveYears2023-12-3109334630ns5:BetweenOneFiveYears2022-12-3109334630ns5:AllPeriods2023-12-3109334630ns5:AllPeriods2022-12-3109334630ns10:Director222022-12-3109334630ns10:Director222021-12-3109334630ns10:Director222023-01-012023-12-3109334630ns10:Director222022-01-012022-12-3109334630ns10:Director222023-12-3109334630ns10:Director222022-12-31
REGISTERED NUMBER: 09334630 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STORIK LIMITED

STORIK LIMITED (REGISTERED NUMBER: 09334630)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STORIK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr L P H Amann
Mrs B M Amann





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 09334630 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

STORIK LIMITED (REGISTERED NUMBER: 09334630)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,231 10,657

CURRENT ASSETS
Stocks 5 - 403
Debtors 6 2,058 5,809
Cash at bank 16,203 3,994
18,261 10,206
CREDITORS
Amounts falling due within one year 7 19,414 9,409
NET CURRENT (LIABILITIES)/ASSETS (1,153 ) 797
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,078

11,454

CREDITORS
Amounts falling due after more than one
year

8

(5,710

)

(9,400

)

PROVISIONS FOR LIABILITIES (2,894 ) (2,025 )
NET ASSETS 5,474 29

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,473 28
SHAREHOLDERS' FUNDS 5,474 29

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

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

STORIK LIMITED (REGISTERED NUMBER: 09334630)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:




Mr L P H Amann - Director



Mrs B M Amann - Director


STORIK LIMITED (REGISTERED NUMBER: 09334630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Storik 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.

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
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 each asset over its estimated useful life.
Tools & equipment - 25% on reducing balance
Fixtures & fittings - 15% on reducing balance
Office equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

STORIK LIMITED (REGISTERED NUMBER: 09334630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the relevant lease except where another more systematic basis if more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Tools & Fixtures Office
equipment & fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 21,500 987 681 23,168
Additions 9,415 - 149 9,564
At 31 December 2023 30,915 987 830 32,732
DEPRECIATION
At 1 January 2023 11,531 299 681 12,511
Charge for year 4,850 103 37 4,990
At 31 December 2023 16,381 402 718 17,501
NET BOOK VALUE
At 31 December 2023 14,534 585 112 15,231
At 31 December 2022 9,969 688 - 10,657

5. STOCKS
2023 2022
£    £   
Stocks - 403

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,520
Other debtors 1,000 1,000
Directors' current accounts - 1,330
Prepayments 1,058 959
2,058 5,809

STORIK LIMITED (REGISTERED NUMBER: 09334630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,690 3,599
Trade creditors 356 717
Corporation tax 5,982 212
Social security and other taxes 7,940 1,188
Other creditors - 2,095
Directors' current accounts 80 -
Accrued expenses 1,366 1,598
19,414 9,409

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,783 3,690
Bank loans - 2-5 years 1,927 5,710
5,710 9,400

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 20,848 14,492
Between one and five years 9,000 18,000
29,848 32,492

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bounce Back Loan 9,399 12,998

The Bounce Back Loan is secured by the UK government.

STORIK LIMITED (REGISTERED NUMBER: 09334630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mrs B M Amann and Mr L P H Amann
Balance outstanding at start of year 1,330 (7,807 )
Amounts advanced - 9,137
Amounts repaid (1,411 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (81 ) 1,330