REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
STD Developments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
STD Developments Limited |
STD Developments Limited (Registered number: 02600286) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STD Developments Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Norfolk House |
Hardwick Square North |
Buxton |
SK17 6PU |
STD Developments Limited (Registered number: 02600286) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
STD Developments Limited (Registered number: 02600286) |
Balance Sheet - continued |
30 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
STD Developments Limited (Registered number: 02600286) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
STD Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Lorries and trailers | - |
Motor vehicles | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
STD Developments Limited (Registered number: 02600286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Revaluations |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 65,000 | 18,519 | 83,519 |
Valuation in 2017 | - | 13,497 | 13,497 |
Valuation in 2018 | - | (102 | ) | (102 | ) |
Valuation in 2019 | (65,000 | ) | (7,168 | ) | (72,168 | ) |
Valuation in 2020 | - | 1,592 | 1,592 |
Valuation in 2021 | - | (76,250 | ) | (76,250 | ) |
Valuation in 2022 | - | 79,953 | 79,953 |
Valuation in 2023 | - | 70,299 | 70,299 |
Valuation in 2024 | - | 6,062 | 6,062 |
Cost | 685,000 | 1,045,212 | 1,730,212 |
685,000 | 1,151,614 | 1,836,614 |
STD Developments Limited (Registered number: 02600286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | FIXED ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Participating interests |
Loans to undertakings in which the company has a participating interest |
Additional information is as follows: |
Interest |
in other |
participating |
interests |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 | 125,000 |
NET BOOK VALUE |
At 30 April 2024 | 125,000 |
At 30 April 2023 | 125,000 |
Loans to |
other |
participating |
interests |
£ |
At 1 May 2023 |
Other movement |
At 30 April 2024 |
The investments and loans relate to Pall-Ex Investments Limited [formerly Run D.M.C. Investments Limited] incorporated on 30th January 2019, company number 11797199. STD Developments Limited holds 25 £1 network member shares, representing 4.1% of the issued share capital of the company. |
The director, C Stevens, has been appointed a director of Pall-Ex Investments Limited. |
Repayment of the loans is not expected before November 2024. £125,000 of the loan capital is non-interest bearing and is covered by a zero coupon unsecured member loan note. The present value, assuming an interest rate of 5%, is £119,048. |
The remaining £70,000 will be repaid with interest at a rate of 2% above the average UK bank base rate for the period of the debt. |
Pall-Ex Investments Limited will control and manage the operation of the transport hub of the members. |
STD Developments Limited (Registered number: 02600286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Directors' loan accounts | - | 40,000 |
Accrued income |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases |
Trade creditors |
Taxation current year | ( |
) |
Social security and other taxes |
VAT | 43,828 | 88,089 |
Directors' current accounts | 935 | 935 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
STD Developments Limited (Registered number: 02600286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | RELATED PARTY DISCLOSURES |
Ms L Stevens |
Company secretary and shareholder |
During the year £10,000 was repaid to the company from Ms L Stevens, the balance owed to the company at the balance sheet date was £30,000 (£40,000 - 2023). |
11. | POST BALANCE SHEET EVENTS |
After the year end the company acquired a further 15 £1 network member shares in Pall-Ex Investments Limited, incorporated on 30th Janaury 20219 company number 11797199. STD Developments Limited now holds a total of 40 £1 network member shares, following the post balance sheet share acquisiton. |