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REGISTERED NUMBER: 05815477 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Stemax Limited

Stemax Limited (Registered number: 05815477)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stemax Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: G M T Harris





SECRETARY: Mrs D H T Harris





REGISTERED OFFICE: 2 Chancery Gate
Ruscombe Business Park
Twyford
Reading
Berkshire
RG10 9LT





REGISTERED NUMBER: 05815477 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Stemax Limited (Registered number: 05815477)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 959,073 971,394
959,073 971,394

CURRENT ASSETS
Stocks 3,375 11,948
Debtors 6 582,644 73,984
Cash at bank 517,818 1,058,290
1,103,837 1,144,222
CREDITORS
Amounts falling due within one year 7 99,762 233,581
NET CURRENT ASSETS 1,004,075 910,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,963,148

1,882,035

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,963,048 1,881,935
SHAREHOLDERS' FUNDS 1,963,148 1,882,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Stemax Limited (Registered number: 05815477)

Balance Sheet - continued
30 June 2024


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 28 August 2024 and were signed by:





G M T Harris - Director


Stemax Limited (Registered number: 05815477)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Stemax Limited (Registered number: 05815477)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
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 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, adjusted for indexation where applicable.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

Stemax Limited (Registered number: 05815477)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 173,000
AMORTISATION
At 1 July 2023
and 30 June 2024 173,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023
and 30 June 2024 1,046,483 36,675 99,484
DEPRECIATION
At 1 July 2023 88,000 30,511 96,434
Charge for year 8,800 1,834 762
At 30 June 2024 96,800 32,345 97,196
NET BOOK VALUE
At 30 June 2024 949,683 4,330 2,288
At 30 June 2023 958,483 6,164 3,050

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 39,074 12,500 3,114 1,237,330
DEPRECIATION
At 1 July 2023 37,184 10,693 3,114 265,936
Charge for year 473 452 - 12,321
At 30 June 2024 37,657 11,145 3,114 278,257
NET BOOK VALUE
At 30 June 2024 1,417 1,355 - 959,073
At 30 June 2023 1,890 1,807 - 971,394

Stemax Limited (Registered number: 05815477)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 65,571 52,570
Other debtors 517,073 21,414
582,644 73,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 26,219 41,267
Taxation and social security 69,769 46,856
Other creditors 3,774 145,458
99,762 233,581

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100