Registered number
12089231
STS World 2019 Limited
Filleted Accounts
30 July 2023
STS World 2019 Limited
Registered number: 12089231
Balance Sheet
as at 30 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,825 23,699
Current assets
Stocks 16,000 12,000
Debtors 4 24,771 3,990
Cash at bank and in hand 2,401 296
43,172 16,286
Creditors: amounts falling due within one year 5 (55,512) (30,212)
Net current liabilities (12,340) (13,926)
Total assets less current liabilities 6,485 9,773
Creditors: amounts falling due after more than one year 6 (11,660) (18,132)
Net liabilities (5,175) (8,359)
Capital and reserves
Called up share capital 100 100
Profit and loss account (5,275) (8,459)
Shareholder's funds (5,175) (8,359)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr S Smith
Director
Approved by the board on 29 July 2024
STS World 2019 Limited
Notes to the Accounts
for the period from 1 August 2022 to 30 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 over 5 years
Motor vehicles over 4 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 35,926 5,000 40,926
At 30 July 2023 35,926 5,000 40,926
Depreciation
At 1 August 2022 14,922 2,305 17,227
Charge for the period 4,201 673 4,874
At 30 July 2023 19,123 2,978 22,101
Net book value
At 30 July 2023 16,803 2,022 18,825
At 31 July 2022 21,004 2,695 23,699
4 Debtors 2023 2022
£ £
Trade debtors - 1,535
Other debtors 24,771 2,455
24,771 3,990
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 18,899 9,192
Taxation and social security costs 36,610 21,021
Other creditors 3 (1)
55,512 30,212
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,660 18,132
7 Loans to directors
See note 8 below for terms and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Shawn Smith
Loan 2,455 54,316 (32,000) 24,771
On 5 April 2024, the relted party repaid the loan shown above in full.
8 Related party transactions 2023 2022
Directors loan account £ £
The director is a related party to the company
At 31st July, the following loans were outstanding, provided on an interest free, short term basis. The loans are unsecured and repayable upon demand.
Amounts owed to the company 24,771 2,455
9 Controlling party
The director is the ultimate controlling party of the company by virtue of his 100% ownership of the issued share capital of the company
10 Other information
STS World 2019 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 12, Albion Park
Warrington Road
Glazebury
Warrington
WA3 5PG
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