Caseware UK (AP4) 2023.0.135 2023.0.135 true6No description of principal activity2023-01-01false6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06011965 2023-01-01 2023-12-31 06011965 2022-01-01 2022-12-31 06011965 2023-12-31 06011965 2022-12-31 06011965 c:Director1 2023-01-01 2023-12-31 06011965 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 06011965 d:Buildings d:ShortLeaseholdAssets 2023-12-31 06011965 d:Buildings d:ShortLeaseholdAssets 2022-12-31 06011965 d:FurnitureFittings 2023-01-01 2023-12-31 06011965 d:FurnitureFittings 2023-12-31 06011965 d:FurnitureFittings 2022-12-31 06011965 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06011965 d:OfficeEquipment 2023-01-01 2023-12-31 06011965 d:OfficeEquipment 2023-12-31 06011965 d:OfficeEquipment 2022-12-31 06011965 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06011965 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06011965 d:CurrentFinancialInstruments 2023-12-31 06011965 d:CurrentFinancialInstruments 2022-12-31 06011965 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06011965 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06011965 d:ShareCapital 2023-12-31 06011965 d:ShareCapital 2022-12-31 06011965 d:RetainedEarningsAccumulatedLosses 2023-12-31 06011965 d:RetainedEarningsAccumulatedLosses 2022-12-31 06011965 c:FRS102 2023-01-01 2023-12-31 06011965 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06011965 c:FullAccounts 2023-01-01 2023-12-31 06011965 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06011965 2 2023-01-01 2023-12-31 06011965 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 06011965










STBY Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
STBY Limited
 

Contents



Page
Accountants' report
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 7

 
STBY Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of STBY Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of STBY Limited for the year ended 31 December 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.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of STBY Limited, as a body, in accordance with the terms of our engagement letter dated 28 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of STBY Limited and state those matters that we have agreed to state to the Board of directors of STBY Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STBY Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that STBY Limited 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 STBY Limited. You consider that STBY Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of STBY Limited. 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.

  



Kreston Reeves LLP
Chartered Accountants
Canterbury
17 April 2024
Page 1

 
STBY Limited
Registered number: 06011965

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,713
2,313

  
5,713
2,313

Current assets
  

Debtors: amounts falling due within one year
 5 
5,435
568,448

Cash at bank and in hand
  
164,802
118,221

  
170,237
686,669

Creditors: amounts falling due within one year
 6 
(45,853)
(593,666)

Net current assets
  
 
 
124,384
 
 
93,003

Total assets less current liabilities
  
130,097
95,316

  

Net assets
  
130,097
95,316


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
129,997
95,216

  
130,097
95,316


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S W J J Raijmakers
Director
Date: 16 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
STBY Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

STBY Limited is a private company limited by shares incorporated in England and Wales. The company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The principal place of business is De Beauvoir Block, Unit 5, 92-96 De Beauvoir Road, London, N1 4EN. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 rounded to the nearest Pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

We confirm that we have considered the company’s future trading prospects, working capital requirements and cashflows and we feel that the going concern basis is appropriate for the preparation of the financial statements for the year under review. Our considerations have covered a period of not less than 12 months from the date of the approval of the financial statements.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
STBY Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property improvements
-
Over lease term
Fixtures & fittings
-
33% straight line
Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
STBY Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
STBY Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Tangible fixed assets





S/Term Leasehold Property Improvements
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
4,065
4,344
30,327
38,736


Additions
-
-
5,706
5,706



At 31 December 2023

4,065
4,344
36,033
44,442



Depreciation


At 1 January 2023
4,065
3,543
28,815
36,423


Charge for the year on owned assets
-
801
1,505
2,306



At 31 December 2023

4,065
4,344
30,320
38,729



Net book value



At 31 December 2023
-
-
5,713
5,713



At 31 December 2022
-
801
1,512
2,313

Page 6

 
STBY Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
513,881

Other debtors
4,615
3,232

Prepayments and accrued income
820
51,335

5,435
568,448



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
48
49,213

Amounts owed to group undertakings
26,413
5,000

Corporation tax
10,237
13,951

Other taxation and social security
4,540
8,988

Accruals and deferred income
4,615
516,514

45,853
593,666



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,816 (2022: £3,746). 


8.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


9.


Related party transactions

During the year the company loaned funds to STBY B.V, a company incorporated in the Netherlands.  The amount outstanding at the year end was £26,413 (2022: £5,000).  
The directors’ remuneration paid by the company during the year was done so under normal market conditions.


Page 7