Company registration number 04531726 (England and Wales)
STP SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
STP SOLUTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
STP SOLUTIONS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STP SOLUTIONS LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of STP Solutions Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of STP Solutions 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 STP Solutions Limited and state those matters that we have agreed to state to the board of directors of STP Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STP Solutions Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that STP Solutions 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 STP Solutions Limited. You consider that STP Solutions 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 STP Solutions 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.

Carpenter Box
6 January 2025
2025-01-06
Chartered Accountants
5 Peveril Court
6-8 London Road
Crawley
West Sussex
RH10 8JE
STP SOLUTIONS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
99,637
131,137
Current assets
Stocks
57,868
118,565
Debtors
4
1,423,978
1,588,805
Cash at bank and in hand
1,039,465
412,874
2,521,311
2,120,244
Creditors: amounts falling due within one year
5
(961,519)
(1,085,380)
Net current assets
1,559,792
1,034,864
Total assets less current liabilities
1,659,429
1,166,001
Provisions for liabilities
(20,700)
(28,300)
Net assets
1,638,729
1,137,701
Capital and reserves
Called up share capital
6
999
999
Profit and loss reserves
1,637,730
1,136,702
Total equity
1,638,729
1,137,701

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 January 2025 and are signed on its behalf by:
Mr S J Pepperell
Director
Company registration number 04531726 (England and Wales)
STP SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

STP Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 The Row, Main Road, Edenbridge, Kent, TN8 6HX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors had a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
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:

Plant and machinery
25% per annum on a diminishing balance basis
Fixtures, fittings & computer equipment
33.33% per annum on a straight line basis
Motor vehicles
25% per annum on a diminishing balance basis

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.

STP SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

STP SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 14 (2023 - 14).

3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
6,572
88,502
295,902
390,976
Additions
706
5,495
-
0
6,201
Disposals
-
0
(133)
-
0
(133)
At 30 April 2024
7,278
93,864
295,902
397,044
Depreciation and impairment
At 1 May 2023
5,458
74,539
179,842
259,839
Depreciation charged in the year
382
8,212
29,015
37,609
Eliminated in respect of disposals
-
0
(41)
-
0
(41)
At 30 April 2024
5,840
82,710
208,857
297,407
Carrying amount
At 30 April 2024
1,438
11,154
87,045
99,637
At 30 April 2023
1,114
13,963
116,060
131,137
STP SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
656,622
675,528
Amounts owed by group undertakings
120,169
257,512
Other debtors
647,187
655,765
1,423,978
1,588,805
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
301,006
862,319
Taxation and social security
592,090
133,039
Other creditors
68,423
90,022
961,519
1,085,380

Included within other creditors are amounts due of £nil (2023: £1,545) under hire purchase contracts which are secured against the assets to which they relate.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 50p each
1,000
1,000
500
500
Ordinary B shares of 50p each
998
998
499
499
1,998
1,998
999
999
7
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors' Loans
-
21,407
(21,407)
-
21,407
(21,407)
-
2024-04-302023-05-01false06 January 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr P JonesMr S J Pepperellfalsefalse045317262023-05-012024-04-30045317262024-04-30045317262023-04-3004531726core:PlantMachinery2024-04-3004531726core:FurnitureFittings2024-04-3004531726core:MotorVehicles2024-04-3004531726core:PlantMachinery2023-04-3004531726core:FurnitureFittings2023-04-3004531726core:MotorVehicles2023-04-3004531726core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3004531726core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004531726core:CurrentFinancialInstruments2024-04-3004531726core:CurrentFinancialInstruments2023-04-3004531726core:ShareCapital2024-04-3004531726core:ShareCapital2023-04-3004531726core:RetainedEarningsAccumulatedLosses2024-04-3004531726core:RetainedEarningsAccumulatedLosses2023-04-3004531726core:ShareCapitalOrdinaryShares2024-04-3004531726core:ShareCapitalOrdinaryShares2023-04-3004531726bus:Director22023-05-012024-04-3004531726core:PlantMachinery2023-05-012024-04-3004531726core:FurnitureFittings2023-05-012024-04-3004531726core:MotorVehicles2023-05-012024-04-30045317262022-05-012023-04-3004531726core:PlantMachinery2023-04-3004531726core:FurnitureFittings2023-04-3004531726core:MotorVehicles2023-04-30045317262023-04-3004531726core:WithinOneYear2024-04-3004531726core:WithinOneYear2023-04-3004531726bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004531726bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004531726bus:FRS1022023-05-012024-04-3004531726bus:AuditExemptWithAccountantsReport2023-05-012024-04-3004531726bus:Director12023-05-012024-04-3004531726bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP