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Registered Number: 09822989
England and Wales

 

 

 

STAFFS TECH LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Shumel Mohammad Matin
Yacoub Yunus
Registered Number 09822989
Registered Office 517-519 King Street
Longton Stoke-On-Trent
ST3 1HE
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 October 2023
Principal activities
Principal activity of the company during the financial year was of other information technology service activities.
Directors
The directors who served the company throughout the year were as follows:
Shumel Mohammad Matin
Yacoub Yunus
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Shumel Mohammad Matin
Director
----------------------------------
Yacoub Yunus
Director

Date approved: 30 October 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,567    1,008 
2,567    1,008 
Current assets      
Stocks 4 17,000    35,000 
Debtors 5 120,617    254,886 
Cash at bank and in hand 250,746    238,964 
388,363    528,850 
Creditors: amount falling due within one year 6 (325,257)   (507,855)
Net current assets 63,106    20,995 
 
Total assets less current liabilities 65,673    22,003 
Creditors: amount falling due after more than one year 7 (16,054)   (21,803)
Net assets 49,619    200 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 49,519    100 
Shareholders' funds 49,619    200 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Shumel Mohammad Matin
Director
-------------------------------
Yacoub Yunus
Director
3
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 November 2021 100  20,148  20,248 
Profit for the year 33,152  33,152 
Total comprehensive income for the year 33,152  33,152 
Dividends (53,200) (53,200)
Total investments by and distributions to owners (53,200) (53,200)
At 31 October 2022 100  100  200 
At 01 November 2022 100  100  200 
Profit for the year 49,419  49,419 
Total comprehensive income for the year 49,419  49,419 
Total investments by and distributions to owners
At 31 October 2023 100  49,519  49,619 
4
General Information
Staffs Tech Ltd is a private company, limited by shares, registered in England and Wales, registration number 09822989, registration address 517-519 King Street, Longton Stoke-On-Trent, ST3 1HE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 years Straight Line
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 32 (2022 : 22).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 November 2022 220    7,711    7,931 
Additions   2,560    2,560 
Disposals    
At 31 October 2023 220    10,271    10,491 
Depreciation
At 01 November 2022 128    6,795    6,923 
Charge for year 14    987    1,001 
On disposals    
At 31 October 2023 142    7,782    7,924 
Net book values
Closing balance as at 31 October 2023 78    2,489    2,567 
Opening balance as at 01 November 2022 92    916    1,008 


4.

Stocks

2023
£
  2022
£
Stocks 17,000    35,000 
17,000    35,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 116,483    250,164 
Other Debtors 900    1,700 
117,383    251,864 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 3,234    3,022 
3,234    3,022 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 115,445    297,914 
Corporation Tax 6,321    5,491 
PAYE & Social Security 12,900    12,001 
Accrued Expenses 1,314    1,314 
Wages & Salaries Control Account   269 
Director: Shumel Mohammad Matin 67,537    70,264 
Director: Yacoub Yunus 64,024    75,167 
VAT 57,716    45,435 
325,257    507,855 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 16,054    21,803 
16,054    21,803 

5