Staff Power Ltd
Registered number: 11501216
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 22,606 24,344
Tangible assets 4 18,018 21,197
40,624 45,541
Current assets
Stocks 23,974 22,541
Debtors 5 - 5,000
Cash at bank and in hand 7,124 2,995
31,098 30,536
Creditors: amounts falling due within one year 6 (31,093) (30,159)
Net current assets 5 377
Total assets less current liabilities 40,629 45,918
Creditors: amounts falling due after more than one year 7 (33,694) (38,220)
Net assets 6,935 7,698
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,934 7,697
Shareholders' funds 6,935 7,698
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Sivagnanam
Director
Approved by the board on 21 January 2025
Staff Power Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 26,082
At 31 August 2024 26,082
Amortisation
At 1 September 2023 1,738
Provided during the year 1,738
At 31 August 2024 3,476
Net book value
At 31 August 2024 22,606
At 31 August 2023 24,344
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 13,950 17,400 31,350
At 31 August 2024 13,950 17,400 31,350
Depreciation
At 1 September 2023 4,881 5,272 10,153
Charge for the year 1,360 1,819 3,179
At 31 August 2024 6,241 7,091 13,332
Net book value
At 31 August 2024 7,709 10,309 18,018
At 31 August 2023 9,069 12,128 21,197
5 Debtors 2024 2023
£ £
Other debtors - 5,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,257 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,986 -
Taxation and social security costs 2,850 2,034
Other creditors 25,000 28,125
31,093 30,159
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 33,694 38,220
8 Other information
Staff Power Ltd is a private company limited by shares and incorporated in England. Its registered office is:
80 Addington Road
Reading
RG1 5PX
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