Registered number
07655995
STELTIX UK LIMITED
Unaudited Filleted Accounts
31 December 2023
STELTIX UK LIMITED
Registered number: 07655995
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 12,709 13,212
Current assets
Debtors 4 435,770 324,301
Cash at bank and in hand 130,535 129,769
566,305 454,070
Creditors: amounts falling due within one year 5 (572,816) (471,395)
Net current liabilities (6,511) (17,325)
Total assets less current liabilities 6,198 (4,113)
Creditors: amounts falling due after more than one year 6 (148,185) (146,587)
Net liabilities (141,987) (150,700)
Capital and reserves
Called up share capital 65,000 65,000
Profit and loss account (206,987) (215,700)
Shareholder's funds (141,987) (150,700)
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 member has 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.
J Weerstand
Director
Approved by the board on 10 September 2024
STELTIX UK LIMITED
Notes to the Accounts
for the year ended 31 December 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 9 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 21,278
Additions 3,493
At 31 December 2023 24,771
Depreciation
At 1 January 2023 8,066
Charge for the year 3,996
At 31 December 2023 12,062
Net book value
At 31 December 2023 12,709
At 31 December 2022 13,212
4 Debtors 2023 2022
£ £
Trade debtors 257,351 277,246
Amounts owed by group undertakings and undertakings in which the company has a participating interest 591 -
Other debtors 177,828 47,055
435,770 324,301
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 62,505 73,719
Taxation and social security costs 222,627 390,291
Other creditors 287,684 7,385
572,816 471,395
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 148,185 146,587
7 Tax Credit
During the year ended 31 December 2023, the Company recognized an R&D tax credit of £29,369.75. This credit arises from qualifying research and development activities undertaken by the Company, which are eligible for tax relief under the UK government’s R&D Tax Relief scheme.

The R&D tax credit has been recognized as follows:

Deferred Tax Asset: The full amount of £29,369.75 has been recognized as a deferred tax asset in the financial statements. This amount reflects management’s assessment that the tax credit is recoverable based on the Company’s projected future taxable profits.

Income Statement Impact: The R&D tax credit has been credited to the income tax expense line in the income statement
8 Related party transactions
2023 2022
£ £
Steltix Nederland BV
Amount due from (to) the related party 591 -
Steltix International BV
Amount due from (to) the related party (148,185) (146,587)
9 Controlling party
The ultimate holding company is Steltix Holding BV, a company registered in The Netherlands.
10 Other information
STELTIX UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor Quadrant House
9 Heath Road
Weybridge
Surrey
KT13 8SX
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