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Registered number: 09092497
ST Electronics Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
ATB Accounting Ltd
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 09092497
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 121,455 39,963
121,455 39,963
CURRENT ASSETS
Stocks 39,052 80,479
Debtors 6 288,803 258,296
Cash at bank and in hand 44,864 45,928
372,719 384,703
Creditors: Amounts Falling Due Within One Year 7 (263,540 ) (262,079 )
NET CURRENT ASSETS (LIABILITIES) 109,179 122,624
TOTAL ASSETS LESS CURRENT LIABILITIES 230,634 162,587
Creditors: Amounts Falling Due After More Than One Year (193,921 ) (162,449 )
NET ASSETS 36,713 138
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 36,613 38
SHAREHOLDERS' FUNDS 36,713 138
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Robin Jones
Director
23/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
ST Electronics Ltd Registered number 09092497 is a limited by shares company incorporated in England & Wales. The Registered Office is 13B Horseshoe Park, Horseshoe Road, Pangbourne, Berkshire, RG8 7JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of four years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
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 stocks.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Total
£
Cost
As at 1 July 2023 622,000
As at 30 June 2024 622,000
Amortisation
As at 1 July 2023 622,000
As at 30 June 2024 622,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 July 2023 42,696
Additions 111,854
As at 30 June 2024 154,550
Depreciation
As at 1 July 2023 2,733
Provided during the period 30,362
As at 30 June 2024 33,095
Net Book Value
As at 30 June 2024 121,455
As at 1 July 2023 39,963
6. Debtors
2024 2023
£ £
Due after more than one year
Corporation tax recoverable assets - 2,759
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,984 -
Trade creditors 128,368 133,351
Bank loans and overdrafts 36,784 34,616
Corporation tax - 3,324
Other taxes and social security 2,808 2,514
VAT 45,452 54,913
Other creditors 15,104 14,544
Accruals and deferred income - 12
Director's loan account 25,040 18,805
263,540 262,079
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,984 -
Later than one year and not later than five years 68,256 -
78,240 -
78,240 -
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
10. Other Commitments
At the end of the period the company had annual commitments under non-cancellable leases as follows:
2024 2023
£ £
Later than one year and not later than five years 12,500 11,500
12,500 11,500
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Robin Jones 14,500 8,500
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12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 14,500 8,500
13. Ultimate Controlling Party
The company's ultimate controlling party is Robin Jones by virtue of his ownership of 100% of the issued share capital in the company.
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