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REGISTERED NUMBER: 03664969 (England and Wales)













STYRO-TECH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


STYRO-TECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: B D Holton





SECRETARY: Mrs S Fox





REGISTERED OFFICE: Unit 5
Kingfisher Industrial Estate
Charles Street
West Bromwich
West Midlands
B70 0AT





REGISTERED NUMBER: 03664969 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 196,519 221,448

CURRENT ASSETS
Stocks 5 29,890 28,915
Debtors 6 140,853 172,966
Cash at bank and in hand 377,328 377,101
548,071 578,982
CREDITORS
Amounts falling due within one year 7 253,417 320,362
NET CURRENT ASSETS 294,654 258,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,173

480,068

PROVISIONS FOR LIABILITIES 49,130 42,075
NET ASSETS 442,043 437,993

CAPITAL AND RESERVES
Called up share capital 91 101
Capital redemption reserve 10 -
Retained earnings 441,942 437,892
SHAREHOLDERS' FUNDS 442,043 437,993

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)

BALANCE SHEET - continued
31ST 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 director and authorised for issue on 11th March 2024 and were signed by:





B D Holton - Director


STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)

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

1. STATUTORY INFORMATION

Styro-Tech 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 represents the invoiced value of sales provided (stated net of value added tax). All turnover derives from the principle activity and is wholly attributable to the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2023 477,717 126,014 603,731
Additions 12,201 50,926 63,127
Disposals (34,420 ) (33,216 ) (67,636 )
At 31st December 2023 455,498 143,724 599,222
DEPRECIATION
At 1st January 2023 309,973 72,310 382,283
Charge for year 36,696 19,218 55,914
Eliminated on disposal (6,985 ) (28,509 ) (35,494 )
At 31st December 2023 339,684 63,019 402,703
NET BOOK VALUE
At 31st December 2023 115,814 80,705 196,519
At 31st December 2022 167,744 53,704 221,448

5. STOCKS
2023 2022
£    £   
Stocks 29,890 28,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,052 133,911
Prepayments 22,801 39,055
140,853 172,966

STYRO-TECH LIMITED (REGISTERED NUMBER: 03664969)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,509 3,646
Trade creditors 141,244 228,898
Corporation tax 46,226 24,774
VAT 30,886 19,633
Other creditors - 22,217
Directors' current accounts 22,786 2,535
Deferred income - 10,336
Accrued expenses 7,766 8,323
253,417 320,362

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
B D Holton
Balance outstanding at start of year - 13,740
Amounts advanced - 110,376
Amounts repaid - (124,116 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B D Holton.