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REGISTERED NUMBER: 08632580 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Servicing International Trade Events Ltd

Servicing International Trade Events Ltd (Registered number: 08632580)






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


Servicing International Trade Events Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: L M Alford





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 08632580 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Servicing International Trade Events Ltd (Registered number: 08632580)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 160 321

CURRENT ASSETS
Debtors 5 17,789 13,881
Cash at bank 1,376 10,793
19,165 24,674
CREDITORS
Amounts falling due within one year 6 (26,627 ) (77,830 )
NET CURRENT LIABILITIES (7,462 ) (53,156 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,302

)

(52,835

)

CREDITORS
Amounts falling due after more than one year 7 (20,785 ) (25,965 )

PROVISIONS FOR LIABILITIES 8 (31 ) (61 )
NET LIABILITIES (28,118 ) (78,861 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 (28,218 ) (78,961 )
(28,118 ) (78,861 )

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 director acknowledges his 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.

Servicing International Trade Events Ltd (Registered number: 08632580)

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 director and authorised for issue on 18 December 2024 and were signed by:





L M Alford - Director


Servicing International Trade Events Ltd (Registered number: 08632580)

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

1. STATUTORY INFORMATION

Servicing International Trade Events 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 (£).


The principal activity of the company continued to be that of transportation support activities.

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 represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 25% Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Servicing International Trade Events Ltd (Registered number: 08632580)

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

2. ACCOUNTING POLICIES - continued

FOREIGN EXCHANGE
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

GOING CONCERN
At the balance sheet date, liabilities exceed assets by £28,118 (2022 : £78,861). However the financial statements have been prepared on a going concern basis as the company has the continuing support from its director and holding company. The director is therefore satisfied that the financial statements have been correctly prepared on the going concern basis.

PROVISION FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 642
DEPRECIATION
At 1 January 2023 321
Charge for year 161
At 31 December 2023 482
NET BOOK VALUE
At 31 December 2023 160
At 31 December 2022 321

Servicing International Trade Events Ltd (Registered number: 08632580)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,986 1,857
Amounts owed by associates - 4,671
Other debtors 11,803 7,353
17,789 13,881

The director considers the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,993 14,868
Trade creditors 3,608 24,294
Amounts owed to group undertakings - 9,169
Taxation and social security 613 -
Other creditors 12,413 29,499
26,627 77,830

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,785 25,965

The directors consider the carrying amounts of long-term liabilities approximate to their fair values.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 31 61

Deferred
tax
£   
Balance at 1 January 2023 61
Provided during year (30 )
Balance at 31 December 2023 31

Servicing International Trade Events Ltd (Registered number: 08632580)

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

9. RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
L M Alford
Balance outstanding at start of year (23,109 ) (23,109 )
Amounts advanced 13,585 -
Amounts repaid (1,540 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,064 ) (23,109 )

11. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts due to the director of £11,064 (2022 - £23,109). This loan is interest free and repayable on demand.

At the balance sheet date included in other creditors are amounts due to holding company - Strata Property Ltd of Nil (2022 - £9,169).

At the balance sheet date included in amounts owed by associates is amount due from LMA Consult Ltd of Nil (2022 - £4,671) in which L Alford is director and majority shareholder.