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Company No: 14261397 (England and Wales)

STYNE GROUP LIMITED

Unaudited Financial Statements
For the financial period from 01 August 2023 to 30 April 2024
Pages for filing with the registrar

STYNE GROUP LIMITED

Unaudited Financial Statements

For the financial period from 01 August 2023 to 30 April 2024

Contents

STYNE GROUP LIMITED

COMPANY INFORMATION

For the financial period from 01 August 2023 to 30 April 2024
STYNE GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 August 2023 to 30 April 2024
DIRECTORS Deborah Brown
Mark Julian Debenham
Wayne Flint
Maxwell David Horslen
Darryn Lummis
Clive Richard Thornley
REGISTERED OFFICE Falcon Hall Finningham Road
Rickinghall
Diss
IP22 1LP
United Kingdom
COMPANY NUMBER 14261397 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
STYNE GROUP LIMITED

BALANCE SHEET

As at 30 April 2024
STYNE GROUP LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024 31.07.2023
£ £
Fixed assets
Tangible assets 3 406,081 0
Investments 4 124,121 0
530,202 0
Current assets
Stocks 5 1,121,125 0
Debtors 6 2,856,293 124,176
Cash at bank and in hand 10,141 0
3,987,559 124,176
Creditors: amounts falling due within one year 7 ( 4,493,960) 0
Net current (liabilities)/assets (506,401) 124,176
Total assets less current liabilities 23,801 124,176
Creditors: amounts falling due after more than one year 8 ( 35,520) 0
Provision for liabilities 9 ( 101,520) 0
Net (liabilities)/assets ( 113,239) 124,176
Capital and reserves
Called-up share capital 10 124,176 124,176
Profit and loss account ( 237,415 ) 0
Total shareholders' (deficit)/funds ( 113,239) 124,176

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Styne Group Limited (registered number: 14261397) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Deborah Brown
Director
STYNE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 April 2024
STYNE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Styne Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Falcon Hall Finningham Road, Rickinghall, Diss, IP22 1LP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern
Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 - 10 years straight line
Plant and machinery etc. 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.08.2023 to
30.04.2024
Period from
01.05.2023 to
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 55 5

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2023 0 0 0
Additions 53,014 460,911 513,925
At 30 April 2024 53,014 460,911 513,925
Accumulated depreciation
At 01 August 2023 0 0 0
Charge for the financial period 8,894 98,950 107,844
At 30 April 2024 8,894 98,950 107,844
Net book value
At 30 April 2024 44,120 361,961 406,081
At 31 July 2023 0 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 August 2023 0 0
Additions 124,121 124,121
At 30 April 2024 124,121 124,121
Carrying value at 30 April 2024 124,121 124,121
Carrying value at 31 July 2023 0 0

5. Stocks

30.04.2024 31.07.2023
£ £
Stocks 172,930 0
Work in progress 948,195 0
1,121,125 0

6. Debtors

30.04.2024 31.07.2023
£ £
Trade debtors 2,313,083 0
Amounts owed by Group undertakings 449,234 0
Other taxation and social security 8,026 0
Other debtors 85,950 124,176
2,856,293 124,176

7. Creditors: amounts falling due within one year

30.04.2024 31.07.2023
£ £
Bank loans 9,951 0
Trade creditors 1,813,655 0
Amounts owed to Group undertakings 1,218,406 0
Other taxation and social security 443,022 0
Obligations under finance leases and hire purchase contracts 47,381 0
Other creditors 961,545 0
4,493,960 0

8. Creditors: amounts falling due after more than one year

30.04.2024 31.07.2023
£ £
Bank loans 12,487 0
Obligations under finance leases and hire purchase contracts 23,033 0
35,520 0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Provision for liabilities

30.04.2024 31.07.2023
£ £
Deferred tax 101,520 0

10. Called-up share capital

30.04.2024 31.07.2023
£ £
Allotted, called-up and fully-paid
124,176 Ordinary shares of £ 1.00 each 124,176 124,176

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

30.04.2024 31.07.2023
£ £
Balances owed to connected companies 808,807 0