Registered number
09689464
STA Group Ltd.
Filleted Accounts
31 July 2023
STA Group Ltd.
Registered number: 09689464
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 196,633 144,356
Current assets
Stocks 388,120 385,000
Debtors 4 540,764 401,272
Cash at bank and in hand 4,070 55,519
932,954 841,791
Creditors: amounts falling due within one year 5 (587,761) (451,217)
Net current assets 345,193 390,574
Total assets less current liabilities 541,826 534,930
Creditors: amounts falling due after more than one year 6 (56,409) (121,687)
Net assets 485,417 413,243
Capital and reserves
Called up share capital 100 100
Profit and loss account 485,317 413,143
Shareholders' funds 485,417 413,243
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SS Bhambra
Director
Approved by the board on 29 July 2024
STA Group Ltd. Registered number
Notes to the Accounts 09689464
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
Motor vehicles 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 146,057 76,682 222,739
Additions 48,000 26,125 74,125
At 31 July 2023 194,057 102,807 296,864
Depreciation
At 1 August 2022 48,956 29,427 78,383
Charge for the year 14,510 7,338 21,848
At 31 July 2023 63,466 36,765 100,231
Net book value
At 31 July 2023 130,591 66,042 196,633
At 31 July 2022 97,101 47,255 144,356
4 Debtors 2023 2022
£ £
Trade debtors 490,011 325,638
Rent deposit 40,000 40,000
Prepayments 10,542 26,177
VAT - 3,961
Other debtors 211 5,496
540,764 401,272
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 39,039 -
Deposits refundable 50,174 61,227
Trade creditors 446,812 394,265
Taxation and social security costs 47,986 (12,707)
Director's loan accounts - 1,215
Accruals 3,750 5,043
Other creditors - 2,174
587,761 451,217
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 56,409 121,687
7 Controlling party
The company was under the control of Mr SS Bhambra and Mr TS Bhambra by virtue of their shareholding in the issued share capital of the company. Mr SS Bhambra is also the managing director of the company.
8 Other information
STA Group Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2
203 Farnham Road
Slough
Berkshire
SL1 4XS
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