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COMPANY REGISTRATION NUMBER: 12503491
STPS Management Limited
Filleted Unaudited Financial Statements
31 July 2023
STPS Management Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
STPS Management Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
620,000
620,000
Current assets
Debtors
5
5,111
5,804
Cash at bank and in hand
7,019
1,542
--------
-------
12,130
7,346
Creditors: amounts falling due within one year
6
634,643
629,275
---------
---------
Net current liabilities
622,513
621,929
---------
---------
Total assets less current liabilities
( 2,513)
( 1,929)
-------
-------
Net liabilities
( 2,513)
( 1,929)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,613)
( 2,029)
-------
-------
Shareholders deficit
( 2,513)
( 1,929)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
STPS Management Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 3 April 2024 , and are signed on behalf of the board by:
Mr P W Harper-Hill
Director
Company registration number: 12503491
STPS Management Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clere House West Street, Burghclere, Newbury, RG20 9LB, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Tangible assets
Land and buildings
£
Cost
At 1 August 2022 and 31 July 2023
620,000
---------
Depreciation
At 1 August 2022 and 31 July 2023
---------
Carrying amount
At 31 July 2023
620,000
---------
At 31 July 2022
620,000
---------
5. Debtors
2023
2022
£
£
Trade debtors
2,054
Other debtors
3,057
5,804
-------
-------
5,111
5,804
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1
8
Amounts owed to group undertakings and undertakings in which the company has a participating interest
208,761
209,712
Other creditors
425,881
419,555
---------
---------
634,643
629,275
---------
---------
7. Related party transactions
As at the period end, £208,761 was owed to the company's parent company. In addition at the period end £395,412 was owed to the directors.