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Registration number: 06462595

Stridon Limited

Unaudited Filleted Financial Statements

for the Period from 1 February 2023 to 30 April 2024

 

Stridon Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Stridon Limited

Company Information

Directors

Matthew Stringer

Anna Macleod

Company secretary

Matthew Stringer

Registered office

The Frames
Unit 1.04
1 Phipp Street
London
EC2A 4PS

Accountants

Delphi Accounting Ltd
Chartered Tax Advisers
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

Stridon Limited

(Registration number: 06462595)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

202,057

239,805

Current assets

 

Debtors

5

319,039

374,628

Cash at bank and in hand

 

349,512

249,609

 

668,551

624,237

Creditors: Amounts falling due within one year

6

(480,041)

(325,741)

Net current assets

 

188,510

298,496

Total assets less current liabilities

 

390,567

538,301

Creditors: Amounts falling due after more than one year

6

(183,944)

(279,728)

Net assets

 

206,623

258,573

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

205,623

257,573

Shareholders' funds

 

206,623

258,573

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Matthew Stringer
Company secretary and director

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Frames
Unit 1.04
1 Phipp Street
London
EC2A 4PS
United Kingdom

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 20 (2023 - 18).

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2023

2,894

15,157

389,054

143,145

Additions

7,552

-

7,186

-

At 30 April 2024

10,446

15,157

396,240

143,145

Depreciation

At 1 February 2023

2,022

2,153

277,206

29,064

Charge for the period

2,578

4,227

29,384

16,297

At 30 April 2024

4,600

6,380

306,590

45,361

Carrying amount

At 30 April 2024

5,846

8,777

89,650

97,784

At 31 January 2023

872

13,004

111,848

114,081

Total
£

Cost or valuation

At 1 February 2023

550,250

Additions

14,738

At 30 April 2024

564,988

Depreciation

At 1 February 2023

310,445

Charge for the period

52,486

At 30 April 2024

362,931

Carrying amount

At 30 April 2024

202,057

At 31 January 2023

239,805

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

240,585

326,161

Amounts owed by related parties

10

31,774

10,761

Prepayments

 

4,180

1,242

Other debtors

 

42,500

36,464

   

319,039

374,628

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

346,886

200,876

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

10,162

-

Taxation and social security

 

117,998

124,865

Other creditors

 

4,995

-

 

480,041

325,741

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

183,944

279,728

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

98,832

176,303

Hire purchase contracts

85,112

103,425

183,944

279,728

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

9

Dividends

2024

2023

£

£

Interim dividend of £223.424 (2023 - £Nil) per ordinary share

242,009

162,500

 

 

10

Related party transactions

Controlling Party
100% of the shares are owned by Stridon Group Ltd

 

Stridon Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Directors transactions

(8,036)

(36,872)

38,788

(6,120)

 

2023

At 1 February 2022
£

Repayments by director
£

At 31 January 2023
£

Directors transactions

(8,315)

279

(8,036)