Registration number:
for the Year Ended
Stacatruc Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Stacatruc Limited
Company Information
Directors |
P Vousden P McConnell |
Registered office |
|
Auditors |
|
Stacatruc Limited
Strategic Report for the Year Ended 31 January 2024
The directors present their strategic report for the year ended 31 January 2024.
Fair review of the business
Stacatruc Limited is involved in the supply, maintenance, hire and repair of material handling equipment to a wide range of customers.
The year ending January 2024 saw a strong performance for the business, with turnover growing 4% and EBITDA declining 23%, reducing EBITDA margins to 9%. All revenue lines grew during the period, most notably the sale of equipment.
The Company made the Acquisition of Waveney Fork Trucks Limited during the year and Blandford Fork Trucks Limited after the year end. Both have strengthened the position of the Group and added geographical coverage.
We have continued to increase stock held by the business , and have grown our dealer network ,both of which have contributed to the performance. The business continues to invest in its stock and employees to hit its growth targets.
Tamworth Holdings Limited, the ultimate parent company, has entered into an MBO in after the end of the financial year,moving from Merino Private equity to YFM Equity partners as majority shareholders. This has given the business a strong platform for growth in the future.
Sustaining an optimal level of engineering resource remains a key management challenge, which we have addressed successfully. During the year, the business reached an all-time high for field service engineers and continues to invest in its staff.
Stacatruc Limited
Strategic Report for the Year Ended 31 January 2024
Principal risks and uncertainties
The principal risks and uncertainties faced by the group include the following:
The UK Economy, change in Government– the business experienced lower levels of inflation compared to prior periods. However, there remains a level of uncertainty in the marketplace, to which our hire and used equipment range both address in respect of those customers who are cautious about longer term capital commitments.
Supply chain – the group relies on 10 – 15 key suppliers which operate globally. Lead times and supply improved in the year, mitigated also by higher stock holdings within the business., Supply chain risk is mitigated by the fact that the business has a diverse supplier base alongside the fact that the business also deals in used material handling equipment and boasts strong hire and service revenue streams.
Liquidity risk – the company is funded in part by facilities provided by a third party, Arbuthnot Asset Finance. The company manages and oversees cash flow forecasts regularly ensure it has sufficient funds to meet its obligations, whilst also ensuring compliance with the covenants given to its 3rd party financier.
Although the business uses a number of detailed operational KPIs to track its progress throughout its departments the directors believe the addition of these KPIs is not necessary for understanding the development or position of the business.
Directors have assessed the going concern based on the financial resources detailed and the Budget and future and are confident that the Company is a going concern and is likely to remain so for the foreseeable future.
Approved and authorised by the
......................................... |
Stacatruc Limited
Directors' Report for the Year Ended 31 January 2024
The directors present their report and the financial statements for the year ended 31 January 2024.
Directors of the company
The directors who held office during the year were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
......................................... |
Stacatruc Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
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 apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
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 are sufficient to show and explain the company's transactions and 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. They 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.
Stacatruc Limited
Independent Auditor's Report to the Members of Stacatruc Limited
Opinion
We have audited the financial statements of Stacatruc Limited (the 'company') for the year ended 31 January 2024, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Stacatruc Limited
Independent Auditor's Report to the Members of Stacatruc Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Stacatruc Limited
Independent Auditor's Report to the Members of Stacatruc Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. As such, we have considered:
the nature of the industry and sector, control environment and business performance including the company's remuneration policy, bonus levels, and performance targets;
the company's own assessment, including assessments made by key management, of the risks that
irregularities may occur either as a result of fraud or error;
any matters we identified having reviewed the company's policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
the matters discussed amongst the audit engagement team.
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the areas in which management is
required to exercise significant judgement, such as the disclosure of adjusting items. In common with all
audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in this
context were the Companies Act, tax legislation and regulations concerning importing and exporting to and
from the UK.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
2 Old Bath Road
Berkshire
RG14 1QL
Stacatruc Limited
Profit and Loss Account for the Year Ended 31 January 2024
Note |
2024 |
(As restated) |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit |
924,484 |
1,352,713 |
|
Interest payable and similar expenses |
( |
( |
|
Profit before tax |
|
|
|
Tax on profit |
( |
( |
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Stacatruc Limited
Statement of Comprehensive Income for the Year Ended 31 January 2024
2024 |
(As restated) |
|
Profit for the year |
|
|
Total comprehensive income for the year |
|
|
Stacatruc Limited
(Registration number: 07096530)
Balance Sheet as at 31 January 2024
Note |
2024 |
(As restated) |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
50,000 |
50,000 |
|
Retained earnings |
3,057,983 |
2,380,386 |
|
Shareholders' funds |
3,107,983 |
2,430,386 |
Approved and authorised by the
......................................... |
Stacatruc Limited
Statement of Changes in Equity for the Year Ended 31 January 2024
Share capital |
Profit and loss account |
Total |
|
At 1 February 2023 |
|
|
|
Profit for the year |
- |
|
|
At 31 January 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 February 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 January 2023 |
50,000 |
2,380,386 |
2,430,386 |
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Unit 10 & 11
Pipers Lane Industrial Estate
Pipers Lane
Thatcham
RG19 4NA
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Financial Reporting Standard 102 - reduced disclosures exemption
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
- The requirements of Section 7 Statement of Cash Flows;
- The requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- The requirements of Section 11 Financial Instruments paragrphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- The requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
- The requirements of Section 33 Related Party Disclosures paragraph 33.7.
The information is included in the consolidated financial statements of Tamworth Holdings Limited as at 31 January 2023 and these financial statements may be obtained from Milestone House, Milbrook, Guildford, GU1 3YA.
As the consolidated financial statements of Tamworth Holdings Limited include the disclosures equivalent to those required by FRS 102, the Company has also taken the exemptions available in respect of the following disclosures:
- Certain disclosures required by FRS 102.11 Basic Financial Instruments and FRS 102.12 Other Financial Instrument Issues in respect of financial instruments not falling within the fair value accounting rules of Paragraph 36(4) of Schedule 1.
Going concern
The financial statements have been prepared on a going concern basis. Directors have assessed going concern based on forecasted financial resources and performance, which indicates the company to be operational for the foreseeable future.
Prior period errors
An adjustment has been made to restate the tax creditor and expenses by £220,907. The restatement is due to a recalculation of the creditor.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale and hire of forklift truck and provision of maintenance services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax payable and deferred tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold land and buildings |
25% reducing balance |
Plant and machinery |
8% - 20% reducing balance |
Fixtures and fittings |
30% reducing balance |
Motor vehicles |
25% reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Sale of goods |
|
|
Rendering of services |
|
|
|
|
The analysis of the company's Turnover for the year by market is as follows:
2024 |
2023 |
|
UK |
|
|
Operating profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
|
- |
Loss/(profit) on disposal of property, plant and equipment |
|
( |
Interest payable and similar expenses |
2024 |
2023 |
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Interest expense on other finance liabilities |
|
|
Foreign exchange losses |
( |
- |
|
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other short-term employee benefits |
|
|
Pension costs, defined contribution scheme |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2024 |
2023 |
|
Administration |
|
|
Sales |
|
|
Other departments |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
98,224 |
147,664 |
Auditors' remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Other fees to auditors |
||
All other non-audit services |
|
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
(As restated) |
|
Current taxation |
||
UK corporation tax |
|
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Decrease from effect of different UK tax rates on some earnings |
( |
- |
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
Tax (decrease)/increase from other short-term timing differences |
( |
|
Tax decrease arising from group relief |
( |
( |
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
2023 |
Asset |
Liability |
Accelerated Capital Allowances |
- |
|
- |
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 February 2023 |
|
|
Additions |
|
|
At 31 January 2024 |
|
|
Amortisation |
||
Amortisation charge |
|
|
At 31 January 2024 |
|
|
Carrying amount |
||
At 31 January 2024 |
|
|
At 31 January 2023 |
|
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Tangible assets |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
|
Cost or valuation |
|||||
At 1 February 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
- |
( |
( |
( |
( |
At 31 January 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 February 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
( |
At 31 January 2024 |
|
|
|
|
|
Carrying amount |
|||||
At 31 January 2024 |
|
|
|
|
|
At 31 January 2023 |
|
|
|
|
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Stocks |
2024 |
2023 |
|
Work in progress |
|
|
Other inventories |
|
|
|
|
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
|
|
|
Amounts owed by related parties |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Accrued income |
|
|
|
|
|
The amounts owed by related parties are unsecured, interest free and repayable on demand. However, the Company does not intend to reclass the amounts owed in the next 24 months.
Cash and cash equivalents |
2024 |
2023 |
|
Cash on hand |
|
|
Cash at bank |
|
|
|
|
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Creditors |
Note |
2024 |
(As restated) |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts due to related parties |
|
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
|
|
|
Other payables |
|
- |
|
Accruals |
|
|
|
Income tax liability |
377,089 |
271,685 |
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Provisions for liabilities |
Deferred tax |
Total |
|
At 1 February 2023 |
|
|
Deferred tax charged to the P&L account |
(76,240) |
(76,240) |
At 31 January 2024 |
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
50,000 |
|
50,000 |
Loans and borrowings |
2024 |
2023 |
|
Non-current loans and borrowings |
||
Hire purchase contracts |
|
|
Other borrowings |
|
|
|
|
2024 |
2023 |
|
Current loans and borrowings |
||
Hire purchase contracts |
|
|
Other borrowings |
|
|
|
|
The hire purchase facilities are secured against the fixed assets to which they relate.
The Company entered into a finance arrangement on 11 June 2021, the terms were amended on 19 August 2022. The finance arrangements are asset-based lending arrangements as follows:
• A Receivables Finance Facility at a 2.45% discount margin repayable no earlier than August 2025.
• A P&M Loan Facility, interest bearing at 3.85% plus base rate and repayable over 4 years on a monthly basis, repayable June 2025.
• A Loan Facility, interest bearing at 5.85% plus base rate payable over 5 years on a monthly basis, repayable June 2026.
• A CBILs Loan Facility, interest bearing at 4.99% plus base rate, repayable over 5 years on a monthly basis, repayable June 2027.
Stacatruc Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
Later than five years |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Dividends |
Interim dividends paid
2024 |
2023 |
|||
Interim dividend of £Nil (2023 - £ |
- |
|
||
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
These financial statements are available upon request from Companies House
Crown Way
Cardiff
CF14 3UZ
See Note 23 for post balance sheet event assoicated with this.
Non adjusting events after the financial period |
|