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REGISTERED NUMBER: 08421339 (England and Wales)






Strom Limited

Financial Statements

for the Year Ended 29 February 2024






Strom Limited (Registered number: 08421339)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Strom Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: Mr A Wilson
Mr A J Wilson





REGISTERED OFFICE: Unit 3, RCM Business Centre
Sandbeds Trading Estate
Ossett
West Yorkshire
WF5 9ND





REGISTERED NUMBER: 08421339 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Strom Limited (Registered number: 08421339)

Balance Sheet
29 February 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,039 163,889
Tangible assets 5 129,534 130,817
130,573 294,706

CURRENT ASSETS
Stocks 841,895 801,476
Debtors 6 726,093 584,506
Cash at bank and in hand 385,597 340,669
1,953,585 1,726,651
CREDITORS
Amounts falling due within one year 7 1,129,142 1,190,896
NET CURRENT ASSETS 824,443 535,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

955,016

830,461

PROVISIONS FOR LIABILITIES 25,690 29,728
NET ASSETS 929,326 800,733

Strom Limited (Registered number: 08421339)

Balance Sheet - continued
29 February 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 929,226 800,633
SHAREHOLDERS' FUNDS 929,326 800,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





Mr A Wilson - Director


Strom Limited (Registered number: 08421339)

Notes to the Financial Statements
for the year ended 29 February 2024


1. STATUTORY INFORMATION

Strom Limited 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 functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. ACCOUNTING POLICIES

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

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Research & development costs are being amortised evenly over their estimated useful life of seven years.

Computer software is being amortised evenly over its estimated useful life of three years.

Research & development costs
Development of products is capitalised where there is expected to be a benefit to future periods and the following conditions are met:

(i)It is technically feasible to complete the research or development so that the product will be available
for use or sale.
(ii)It is intended to use or sell the product being developed.
(iii)The company is able to use or sell the product.
(iv)It can be demonstrated that the product will generate future economic benefits.
(v)Adequate technical, financial and other resources exist so that product development can be completed
and subsequently used or sold.
(vi)Expenditure attributable to the research and development work can be reliably measured.

Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life.

All other research and development expenditure is recognised as an expense in the period in which it is incurred.

Strom Limited (Registered number: 08421339)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Property Improvement - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 25% on reducing balance

Fixed assets are initially recorded at cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

Strom Limited (Registered number: 08421339)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


4. INTANGIBLE FIXED ASSETS
Research &
Patents and development Computer
licences costs software Totals
£ £ £ £
COST
At 1 March 2023 8,029 313,278 8,668 329,975
Disposals - (313,278 ) - (313,278 )
At 29 February 2024 8,029 - 8,668 16,697
AMORTISATION
At 1 March 2023 2,975 154,688 8,423 166,086
Amortisation for year 4,015 44,754 245 49,014
Eliminated on disposal - (199,442 ) - (199,442 )
At 29 February 2024 6,990 - 8,668 15,658
NET BOOK VALUE
At 29 February 2024 1,039 - - 1,039
At 28 February 2023 5,054 158,590 245 163,889

5. TANGIBLE FIXED ASSETS
Leasehold Fixtures
Property Plant and and Office
Improvement machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 March 2023 24,344 135,529 44,420 45,840 250,133
Additions 31,382 19,740 2,637 13,445 67,204
Disposals - (120,316 ) - - (120,316 )
At 29 February 2024 55,726 34,953 47,057 59,285 197,021
DEPRECIATION
At 1 March 2023 5,812 84,998 17,996 10,510 119,316
Charge for year 2,614 16,374 4,112 9,172 32,272
Eliminated on disposal - (84,101 ) - - (84,101 )
At 29 February 2024 8,426 17,271 22,108 19,682 67,487
NET BOOK VALUE
At 29 February 2024 47,300 17,682 24,949 39,603 129,534
At 28 February 2023 18,532 50,531 26,424 35,330 130,817

Strom Limited (Registered number: 08421339)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 624,523 534,591
Amounts owed by related undertakings 45,741 -
Prepayments and accrued income 55,829 49,915
726,093 584,506

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 288 34
Trade creditors 355,548 124,859
Tax 4,126 21,860
Social security and other taxes 46,376 26,974
VAT 130,955 130,613
Other creditors 508,090 847,764
Accruals and deferred income 83,759 38,792
1,129,142 1,190,896

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 68,723 72,740
Between one and five years 97,101 89,071
165,824 161,811

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100