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REGISTERED NUMBER: 09086822 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Stannp Ltd

Stannp Ltd (Registered number: 09086822)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stannp Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr S C P Heaton
Mr F T Manning
Mr S Parish
Mrs H V Kruglow





REGISTERED OFFICE: Unit 12
Taw Trade Park
Braunton Road
Barnstaple
Devon
EX31 1JZ





REGISTERED NUMBER: 09086822 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Stannp Ltd (Registered number: 09086822)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 515,751 300,340
Investments 6 1 1
515,752 300,341

CURRENT ASSETS
Stocks 159,606 159,918
Debtors 7 680,789 722,672
Cash at bank and in hand 770,785 724,144
1,611,180 1,606,734
CREDITORS
Amounts falling due within one year 8 1,450,900 1,124,341
NET CURRENT ASSETS 160,280 482,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

676,032

782,734

CREDITORS
Amounts falling due after more than one
year

9

-

(165,404

)

PROVISIONS FOR LIABILITIES (117,962 ) (62,563 )
NET ASSETS 558,070 554,767

CAPITAL AND RESERVES
Called up share capital 12 79 79
Share premium 9,992 9,992
Capital redemption reserve 29 29
Retained earnings 547,970 544,667
SHAREHOLDERS' FUNDS 558,070 554,767

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Stannp Ltd (Registered number: 09086822)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr F T Manning - Director


Stannp Ltd (Registered number: 09086822)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Stannp Ltd 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.

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


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements
The financial statements contain information about Stannp Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% straight line
Plant and machinery - 15% straight line
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of revenue items are credited to the profit and loss account when they are receivable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stannp Ltd (Registered number: 09086822)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments 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 administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and therefore deem it appropriate to prepare the financial statements on the going concern basis.

Hire purchase and leasing commitments
Rentals under operating leases are charged to the profit and loss account as they fall due.

Stannp Ltd (Registered number: 09086822)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 44 ) .

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 112,183 720,853 33,543 866,579
Additions 39,998 233,898 27,071 300,967
Disposals 70 (111,140 ) (993 ) (112,063 )
At 31 December 2023 152,251 843,611 59,621 1,055,483
DEPRECIATION
At 1 January 2023 101,272 441,083 23,884 566,239
Charge for year 6,646 46,783 5,686 59,115
Eliminated on disposal - (85,622 ) - (85,622 )
At 31 December 2023 107,918 402,244 29,570 539,732
NET BOOK VALUE
At 31 December 2023 44,333 441,367 30,051 515,751
At 31 December 2022 10,911 279,770 9,659 300,340


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 403,691 438,343
Amounts owed by group undertakings 156,900 165,234
Other debtors 120,198 119,095
680,789 722,672

Stannp Ltd (Registered number: 09086822)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 62,121
Trade creditors 462,470 319,173
Taxation and social security 270,177 156,104
Other creditors 718,253 586,943
1,450,900 1,124,341

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 165,404

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 145,004 42,750
Between one and five years 76,251 89,417
221,255 132,167

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 227,525

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

12. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
7,937 A £0.01 79 79

13. CORRESPONDING AMOUNTS

These financial statements cover the year ended 31 December 2023. The comparative figures cover the period 1 July 2021 to 31 December 2022. Accordingly, the corresponding amounts may not be comparable as required by the provisions of FRS 102 Section 1A small entities.