BrightAccountsProduction v1.0.0 v1.0.0 2022-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to act as a consultant in the field of scientific & technical engineering. 27 August 2024 3 3 NI608431 2023-08-31 NI608431 2022-08-31 NI608431 2021-08-31 NI608431 2022-09-01 2023-08-31 NI608431 2021-09-01 2022-08-31 NI608431 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI608431 uk-curr:PoundSterling 2022-09-01 2023-08-31 NI608431 uk-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI608431 uk-bus:AbridgedAccounts 2022-09-01 2023-08-31 NI608431 uk-core:ShareCapital 2023-08-31 NI608431 uk-core:ShareCapital 2022-08-31 NI608431 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI608431 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 NI608431 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI608431 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-08-31 NI608431 uk-bus:FRS102 2022-09-01 2023-08-31 NI608431 uk-core:Goodwill 2022-09-01 2023-08-31 NI608431 uk-core:LandBuildings 2022-09-01 2023-08-31 NI608431 uk-core:PlantMachinery 2022-09-01 2023-08-31 NI608431 uk-core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI608431 uk-core:Goodwill 2022-08-31 NI608431 uk-core:Goodwill 2023-08-31 NI608431 2022-09-01 2023-08-31 NI608431 uk-bus:Director1 2022-09-01 2023-08-31 NI608431 uk-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Scientific & Technical Engineering Partnership Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2023



Scientific & Technical Engineering Partnership Ltd
Company Registration Number: NI608431
ABRIDGED BALANCE SHEET
as at 31 August 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 6 33,446 43,896
───────── ─────────
 
Current Assets
Stocks 211,161 174,349
Debtors 224,536 413,144
Cash and cash equivalents 282,425 218,139
───────── ─────────
718,122 805,632
───────── ─────────
Creditors: amounts falling due within one year (98,369) (183,108)
───────── ─────────
Net Current Assets 619,753 622,524
───────── ─────────
Total Assets less Current Liabilities 653,199 666,420
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,000 1,000
Retained earnings 652,199 665,420
───────── ─────────
Shareholders' Funds 653,199 666,420
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 27 August 2024
           
           
________________________________          
Mr. Michael Carr          
Director          
           



Scientific & Technical Engineering Partnership Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2023

   
1. General Information
 
Scientific & Technical Engineering Partnership Ltd is a private company limited by shares incorporated in Northern Ireland. 13 Corcreechy Road, Newry, Co. Down, BT34 1LR, Northern Ireland is the registered office, which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

These financial statements cover the individual entity for the year ended 31st August 2023.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 8 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by Scientific & Technical Engineering Partnership Ltd in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 September 2021.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was;
 
  2023 2022
  Number Number
 
Employees 3 3
  ═════════ ═════════
     
5. Intangible assets
   
  Goodwill
  £
Cost
At 1 September 2022 300,000
  ─────────
 
At 31 August 2023 300,000
  ─────────
Amortisation
 
At 31 August 2023 300,000
  ─────────
Net book value
At 31 August 2023 -
  ═════════
           
6. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 September 2022 5,527 70,120 7,221 82,868
  ───────── ───────── ───────── ─────────
 
At 31 August 2023 5,527 70,120 7,221 82,868
  ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2022 - 32,880 6,092 38,972
Charge for the financial year - 10,168 282 10,450
  ───────── ───────── ───────── ─────────
At 31 August 2023 - 43,048 6,374 49,422
  ───────── ───────── ───────── ─────────
Net book value
At 31 August 2023 5,527 27,072 847 33,446
  ═════════ ═════════ ═════════ ═════════
At 31 August 2022 5,527 37,240 1,129 43,896
  ═════════ ═════════ ═════════ ═════════
       
7. Pension commitments
 
The company operates a defined contribution pension scheme for the benefit of it's employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there were outstanding contributions of £587 due to the fund (2022: £587). These amounts are included in Creditors: amounts falling due within one year.