Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Gavin Borrett 02/08/2022 Deborah Brown 02/08/2022 Mark Debenham 02/08/2022 Barry Dowman 02/08/2022 Maxwell Horslen 02/08/2022 Darryn Lummis 02/08/2022 Clive Thornley 02/08/2022 31 January 2025 The principle activity of the company during the financial year was construction installation 14271660 2024-04-30 14271660 bus:Director1 2024-04-30 14271660 bus:Director2 2024-04-30 14271660 bus:Director3 2024-04-30 14271660 bus:Director4 2024-04-30 14271660 bus:Director5 2024-04-30 14271660 bus:Director6 2024-04-30 14271660 bus:Director7 2024-04-30 14271660 2023-04-30 14271660 core:CurrentFinancialInstruments 2024-04-30 14271660 core:CurrentFinancialInstruments 2023-04-30 14271660 core:Non-currentFinancialInstruments 2024-04-30 14271660 core:Non-currentFinancialInstruments 2023-04-30 14271660 core:ShareCapital 2024-04-30 14271660 core:ShareCapital 2023-04-30 14271660 core:RetainedEarningsAccumulatedLosses 2024-04-30 14271660 core:RetainedEarningsAccumulatedLosses 2023-04-30 14271660 core:PlantMachinery 2023-04-30 14271660 core:Vehicles 2023-04-30 14271660 core:ComputerEquipment 2023-04-30 14271660 core:PlantMachinery 2024-04-30 14271660 core:Vehicles 2024-04-30 14271660 core:ComputerEquipment 2024-04-30 14271660 core:CurrentFinancialInstruments 10 2024-04-30 14271660 core:CurrentFinancialInstruments 10 2023-04-30 14271660 bus:OrdinaryShareClass1 2024-04-30 14271660 2023-05-01 2024-04-30 14271660 bus:FilletedAccounts 2023-05-01 2024-04-30 14271660 bus:SmallEntities 2023-05-01 2024-04-30 14271660 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14271660 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14271660 bus:Director1 2023-05-01 2024-04-30 14271660 bus:Director2 2023-05-01 2024-04-30 14271660 bus:Director3 2023-05-01 2024-04-30 14271660 bus:Director4 2023-05-01 2024-04-30 14271660 bus:Director5 2023-05-01 2024-04-30 14271660 bus:Director6 2023-05-01 2024-04-30 14271660 bus:Director7 2023-05-01 2024-04-30 14271660 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 14271660 core:Vehicles core:TopRangeValue 2023-05-01 2024-04-30 14271660 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 14271660 2022-05-01 2023-04-30 14271660 core:PlantMachinery 2023-05-01 2024-04-30 14271660 core:Vehicles 2023-05-01 2024-04-30 14271660 core:ComputerEquipment 2023-05-01 2024-04-30 14271660 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 14271660 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 14271660 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14271660 (England and Wales)

STYNE NET ZERO LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

STYNE NET ZERO LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

STYNE NET ZERO LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
STYNE NET ZERO LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Gavin Borrett
Deborah Brown
Mark Debenham
Barry Dowman
Maxwell Horslen
Darryn Lummis
Clive Thornley
REGISTERED OFFICE Falcon Hall Finningham Road
Rickinghall
Diss
IP22 1LP
United Kingdom
COMPANY NUMBER 14271660 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
STYNE NET ZERO LIMITED

BALANCE SHEET

As at 30 April 2024
STYNE NET ZERO LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 29,412 2,751
29,412 2,751
Current assets
Stocks 4 49,349 18,504
Debtors
- due within one year 5 150,303 27,929
- due after more than one year 5 0 6,832
Cash at bank and in hand 36,022 5,485
235,674 58,750
Creditors: amounts falling due within one year 6 ( 167,902) ( 57,771)
Net current assets 67,772 979
Total assets less current liabilities 97,184 3,730
Creditors: amounts falling due after more than one year 7 ( 657) ( 445)
Net assets 96,527 3,285
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 96,427 3,185
Total shareholders' funds 96,527 3,285

For the financial year 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 Net Zero Limited (registered number: 14271660) 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 NET ZERO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
STYNE NET ZERO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

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

General information and basis of accounting

Styne Net Zero 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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:

Plant and machinery 5 years straight line
Vehicles 5 years straight line
Computer equipment 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

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.

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 1

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 May 2023 2,359 0 780 3,139
Additions 958 29,389 0 30,347
At 30 April 2024 3,317 29,389 780 33,486
Accumulated depreciation
At 01 May 2023 258 0 130 388
Charge for the financial year 568 2,858 260 3,686
At 30 April 2024 826 2,858 390 4,074
Net book value
At 30 April 2024 2,491 26,531 390 29,412
At 30 April 2023 2,101 0 650 2,751

4. Stocks

2024 2023
£ £
Stocks 12,409 18,504
Work in progress 36,940 0
49,349 18,504

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 104,714 22,175
Amounts owed by Group undertakings 42,293 0
Other taxation and social security 0 137
Other debtors 3,296 5,617
150,303 27,929
Debtors: amounts falling due after more than one year
Other debtors 0 6,832

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 77,487 23,994
Amounts owed to Group undertakings 2,658 23,000
Taxation and social security 43,112 3,377
Other creditors 44,645 7,400
167,902 57,771

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

2024 2023
£ £
Other creditors 657 445

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2023: nil shares) 100 0

9. Related party transactions

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

2024 2023
£ £
Balances owed by connected companies 39,635 0