Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312No description of principal activityfalse2023-01-012The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue 09343216 2023-01-01 2023-12-31 09343216 2022-01-01 2022-12-31 09343216 2023-12-31 09343216 2022-12-31 09343216 c:Director1 2023-01-01 2023-12-31 09343216 d:CurrentFinancialInstruments 2023-12-31 09343216 d:CurrentFinancialInstruments 2022-12-31 09343216 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09343216 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09343216 d:ShareCapital 2023-12-31 09343216 d:ShareCapital 2022-12-31 09343216 d:RetainedEarningsAccumulatedLosses 2023-12-31 09343216 d:RetainedEarningsAccumulatedLosses 2022-12-31 09343216 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09343216 c:OrdinaryShareClass1 2023-12-31 09343216 c:OrdinaryShareClass1 2022-12-31 09343216 c:OrdinaryShareClass2 2023-01-01 2023-12-31 09343216 c:OrdinaryShareClass2 2023-12-31 09343216 c:OrdinaryShareClass2 2022-12-31 09343216 c:FRS102 2023-01-01 2023-12-31 09343216 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09343216 c:FullAccounts 2023-01-01 2023-12-31 09343216 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09343216 2 2023-01-01 2023-12-31 09343216 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09343216









STEFBRIN TRADING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STEFBRIN TRADING LIMITED
REGISTERED NUMBER: 09343216

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
174
-

  
174
-

Current assets
  

Debtors: amounts falling due within one year
 5 
655,926
741,264

Cash at bank and in hand
 6 
35,400
35,152

  
691,326
776,416

Creditors: amounts falling due within one year
 7 
(405,230)
(433,826)

Net current assets
  
 
 
286,096
 
 
342,590

Total assets less current liabilities
  
286,270
342,590

  

Net assets
  
286,270
342,590


Capital and reserves
  

Called up share capital 
 8 
5,250,100
5,450,100

Profit and loss account
  
(4,963,830)
(5,107,510)

  
286,270
342,590


Page 1

 
STEFBRIN TRADING LIMITED
REGISTERED NUMBER: 09343216
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 September 2024.




A J Ndoca
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the Company is that of investment holding.
The company is a private company limited by shares and is incorporated in England and Wales. 
The Registered Office address is 35 Ballards Lane, London N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland ("FRS 102") and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
For the year ended 31 December 2023 the Company made a profit of £143,680 and has net assets of £286,270 as at 31 December 2023. 
The directors expect to have adequate resources and access to working capital to continue in operational existence for the foreseeable future and therefore believe that it is appropriate to continue to use the going concern basis for the preparation of these financial statements. 

 
2.3

Turnover and revenue recognition

Turnover comprises dividend income receivable from the Company's investments.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable.

Page 3

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in Statement of Income and Retained Earnings.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in Statement of Income and Retained Earnings within 'other operating income'.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Valuation of investments

Investments in unlisted Company shares are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including other creditors and accruals, and amounts due to group undertakings are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in associates

£



Cost 


Additions
174



At 31 December 2023
174





5.


Debtors

2023
2022
£
£


Other debtors
561,992
741,264

Prepayments and accrued income
93,934
-

655,926
741,264



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,400
35,152



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
392,938
414,656

Accruals and deferred income
12,292
19,170

405,230
433,826

Page 7

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.Creditors: Amounts falling due within one year (continued)


Page 8

 
STEFBRIN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5,250,000 (2022 - 5,450,000) Deferred shares of £1.00 each
5,250,000
5,450,000
100 (2022 - 100) Ordinary shares of £1.00 each
100
100

5,250,100

5,450,100


During the year, the Company has reduced its capital by cancelling 200,000 deferred shares of £1 each.
The Deferred shares shall not entitle the holders to receive notice of, attend, speak or vote at any general meeting of the company. The deferred shares also carry no right to a dividend. The deferred shares may be redeemed by the company at any time at its option for £1 per share.
The Ordinary shares have full voting, dividend and capital distribution rights.


9.


Related party transactions

Included within other debtors is a balance of £50,257 (2022: £200,000) owed by an associate. The balance is unsecured, interest free, and repayable on three months notice.
Included within other debtors is a balance of £ 39,200 (2022: £ 39,200) owed to a Trust in which a director has an interest.

 
Page 9