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S.T.N. P.A. & LIGHTING LTD
Unaudited filleted financial statements
31 October 2023
Company registration number 03265030
S.T.N. P.A. & LIGHTING LTD
Contents
Statement of financial position
Notes to the financial statements
S.T.N. P.A. & LIGHTING LTD
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 35,742 11,774
_______ _______
35,742 11,774
Current assets
Debtors 6 161 21
Cash at bank and in hand 1,211 765
_______ _______
1,372 786
Creditors: amounts falling due
within one year 7 ( 38,625) ( 24,311)
_______ _______
Net current liabilities ( 37,253) ( 23,525)
_______ _______
Total assets less current liabilities ( 1,511) ( 11,751)
Creditors: amounts falling due
after more than one year 8 ( 55,098) ( 30,000)
_______ _______
Net liabilities ( 56,609) ( 41,751)
_______ _______
Capital and reserves
Called up share capital 60,000 60,000
Profit and loss account ( 116,609) ( 101,751)
_______ _______
Shareholders deficit ( 56,609) ( 41,751)
_______ _______
For the year ending 31 October 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 February 2024 , and are signed on behalf of the board by:
Mr C.R. Scammell
Director
Company registration number: 03265030
S.T.N. P.A. & LIGHTING LTD
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 221 City Way, Rochester, Kent.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
These financial statements have been prepared on the going concern basis.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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 % reducing balance
Fittings fixtures and equipment - 40 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 31,554 15,000 2,900 49,454
Additions 389 308 32,650 33,347
_______ _______ _______ _______
At 31 October 2023 31,943 15,308 35,550 82,801
_______ _______ _______ _______
Depreciation
At 1 November 2022 29,992 4,950 2,738 37,680
Charge for the year 365 3,494 5,520 9,379
_______ _______ _______ _______
At 31 October 2023 30,357 8,444 8,258 47,059
_______ _______ _______ _______
Carrying amount
At 31 October 2023 1,586 6,864 27,292 35,742
_______ _______ _______ _______
At 31 October 2022 1,562 10,050 162 11,774
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 161 21
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 115 115
Other creditors 38,510 24,196
_______ _______
38,625 24,311
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 55,098 30,000
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr C.R. Scammell ( 23,561) ( 9,229) ( 32,790)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr C.R. Scammell ( 20,685) ( 2,876) ( 23,561)
_______ _______ _______
The creditors balance falling due afer more than one year of £30,000 (2022: £30,000) is also owed to the director, Mr C.R. Scammell .
10. Controlling party
The company is controlled by Mr C.R. Scammell , director and majority shareholder.
11. Going concern
As at 31 October 2023 the balance sheet shows net current liabilities. These accounts have been prepared on the going concern basis as the director has agreed to continue to support the Company to ensure it is able to meets its debts as they fall due.