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Company registration number: 08911123
Stele Structures Limited
Unaudited filleted financial statements
28 February 2024
Stele Structures Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Stele Structures Limited
Directors and other information
Director Mr Paul Rodgers
Secretary Mrs Ceri Rodgers
Company number 08911123
Registered office 8 Waterfall Close
Norton
Sheffield
South Yorkshire
S8 8AE
Business address 8 Waterfall Close
Norton
Sheffield
South Yorkshire
S8 8AE
Accountants Henry Bramall & Co Limited
Unit 8 Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
Stele Structures Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Stele Structures Limited
Year ended 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stele Structures Limited for the year ended 28 February 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Stele Structures Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stele Structures Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stele Structures Limited and its director as a body for our work or for this report.
It is your duty to ensure that Stele Structures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stele Structures Limited. You consider that Stele Structures Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Stele Structures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Henry Bramall & Co Limited
Chartered Certified Accountants
Unit 8 Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
27 November 2024
Stele Structures Limited
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 428,480 408,754
Investments 5 5,219 5,219
_______ _______
433,699 413,973
Current assets
Debtors 6 825,778 790,573
Cash at bank and in hand 254,421 225,751
_______ _______
1,080,199 1,016,324
Creditors: amounts falling due
within one year 7 ( 252,968) ( 248,594)
_______ _______
Net current assets 827,231 767,730
_______ _______
Total assets less current liabilities 1,260,930 1,181,703
Creditors: amounts falling due
after more than one year 8 ( 76,771) ( 113,468)
Provisions for liabilities ( 80,770) ( 77,291)
_______ _______
Net assets 1,103,389 990,944
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,103,289 990,844
_______ _______
Shareholders funds 1,103,389 990,944
_______ _______
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr Paul Rodgers
Director
Company registration number: 08911123
Stele Structures Limited
Notes to the financial statements
Year ended 28 February 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).
4. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 578,708 56,273 243,801 878,782
Additions 150,498 8,523 14,033 173,054
_______ _______ _______ _______
At 28 February 2024 729,206 64,796 257,834 1,051,836
_______ _______ _______ _______
Depreciation
At 1 March 2023 344,742 50,018 75,268 470,028
Charge for the year 104,907 5,580 42,841 153,328
_______ _______ _______ _______
At 28 February 2024 449,649 55,598 118,109 623,356
_______ _______ _______ _______
Carrying amount
At 28 February 2024 279,557 9,198 139,725 428,480
_______ _______ _______ _______
At 28 February 2023 233,966 6,255 168,533 408,754
_______ _______ _______ _______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 March 2023 and 28 February 2024 5,219 5,219
_______ _______
Impairment
At 1 March 2023 and 28 February 2024 - -
_______ _______
Carrying amount
At 28 February 2024 5,219 5,219
_______ _______
At 28 February 2023 5,219 5,219
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 280,199 285,105
Other debtors 545,579 505,468
_______ _______
825,778 790,573
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 44,186 107,076
Corporation tax 75,000 47,060
Social security and other taxes 8,432 -
Other creditors 115,350 84,458
_______ _______
252,968 248,594
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 13,149 22,500
Other creditors 63,622 90,968
_______ _______
76,771 113,468
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Paul Rodgers 21,791 99,645 ( 85,020) 36,416
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Paul Rodgers 48,407 31,884 ( 58,500) 21,791
_______ _______ _______ _______
Initial overdrawn balance repaid in the year. Existing overdrawn DLA was repaid on 6th April 2024 by a dividend declaration of £65,000
10. Controlling party
The company is under control of the Mr P Rodgers, the sole director and majority shareholder.