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REGISTERED NUMBER: 06701785 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

STACEY INTERNATIONAL LIMITED

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Statement of financial position 1 to 2

Notes to the financial statements 3 to 7


STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

STATEMENT OF FINANCIAL POSITION
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,821 6,037
Property, plant and equipment 5 10,653 14,774
13,474 20,811

CURRENT ASSETS
Inventories 44,700 47,715
Debtors 6 62,160 31,145
Cash at bank 2,640 9,977
109,500 88,837
CREDITORS
Amounts falling due within one year 7 (66,743 ) (45,882 )
NET CURRENT ASSETS 42,757 42,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,231

63,766

CREDITORS
Amounts falling due after more than one
year

8

(9,100

)

(14,135

)
NET ASSETS 47,131 49,631

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 46,131 48,631
47,131 49,631

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

STATEMENT OF FINANCIAL POSITION - continued
31 October 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





M R Stacey - Director


STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Stacey International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06701785

Registered office: Park View Business Centre
Combermere
Whitchurch
Shropshire
SY13 4AL

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company during the year was that of the retail of cable assemblies for the electronics, security and communication industries.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation is provided at the following annual rates in order to write off the asset over its estimated
useful life.

Goodwill - 10% straight line

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation is provided at the following annual rates in order to write off the asset over its estimated
useful life.
Patents- 20% straight line

Tangible assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
Cost
At 1 November 2022
and 31 October 2023 2,000 15,080 17,080
Amortisation
At 1 November 2022 800 10,243 11,043
Charge for year 200 3,016 3,216
At 31 October 2023 1,000 13,259 14,259
Net book value
At 31 October 2023 1,000 1,821 2,821
At 31 October 2022 1,200 4,837 6,037

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 November 2022
and 31 October 2023 16,408 6,298 6,099 28,805
Depreciation
At 1 November 2022 6,093 4,263 3,675 14,031
Charge for year 1,641 1,260 1,220 4,121
At 31 October 2023 7,734 5,523 4,895 18,152
Net book value
At 31 October 2023 8,674 775 1,204 10,653
At 31 October 2022 10,315 2,035 2,424 14,774

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 49,546 17,977
Other debtors 12,614 13,168
62,160 31,145

STACEY INTERNATIONAL LIMITED (REGISTERED NUMBER: 06701785)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 5,028 4,904
Trade creditors 21,787 4,365
Taxation and social security 33,296 28,590
Other creditors 6,632 8,023
66,743 45,882

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 9,100 14,135

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.10.23 31.10.22
£    £   
M R Stacey
Balance outstanding at start of year 2,092 (5,221 )
Amounts advanced 14,310 22,518
Amounts repaid (10,947 ) (15,205 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,455 2,092

The advance is unsecured, repayable on demand and interest fee.

10. OTHER FINANCIAL COMMITMENTS

The amount of other commitments, guarantees and contingencies is Nil (2022: £21656).