Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-311false2023-02-01Provision of Cleaning Services1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07378625 2023-02-01 2024-01-31 07378625 2022-02-01 2023-01-31 07378625 2024-01-31 07378625 2023-01-31 07378625 c:Director1 2023-02-01 2024-01-31 07378625 d:PlantMachinery 2023-02-01 2024-01-31 07378625 d:PlantMachinery 2024-01-31 07378625 d:PlantMachinery 2023-01-31 07378625 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07378625 d:MotorVehicles 2023-02-01 2024-01-31 07378625 d:MotorVehicles 2024-01-31 07378625 d:MotorVehicles 2023-01-31 07378625 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07378625 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07378625 d:Goodwill 2024-01-31 07378625 d:Goodwill 2023-01-31 07378625 d:CurrentFinancialInstruments 2024-01-31 07378625 d:CurrentFinancialInstruments 2023-01-31 07378625 d:Non-currentFinancialInstruments 2024-01-31 07378625 d:Non-currentFinancialInstruments 2023-01-31 07378625 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07378625 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07378625 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07378625 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07378625 d:ShareCapital 2024-01-31 07378625 d:ShareCapital 2023-01-31 07378625 d:RetainedEarningsAccumulatedLosses 2024-01-31 07378625 d:RetainedEarningsAccumulatedLosses 2023-01-31 07378625 c:FRS102 2023-02-01 2024-01-31 07378625 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07378625 c:FullAccounts 2023-02-01 2024-01-31 07378625 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07378625 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07378625










STM CLEANING LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
STM CLEANING LTD
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
STM CLEANING LTD
REGISTERED NUMBER: 07378625

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
14,249

  
-
14,249

Current assets
  

Debtors: amounts falling due within one year
 6 
353,779
948,042

  
353,779
948,042

Creditors: amounts falling due within one year
 7 
(637,173)
(1,034,399)

Net current liabilities
  
 
 
(283,394)
 
 
(86,357)

Total assets less current liabilities
  
(283,394)
(72,108)

Creditors: amounts falling due after more than one year
 8 
-
(23,902)

  

Net liabilities
  
(283,394)
(96,010)


Capital and reserves
  

Called up share capital 
  
10,100
10,100

Profit and loss account
  
(293,494)
(106,110)

  
(283,394)
(96,010)


Page 1

 
STM CLEANING LTD
REGISTERED NUMBER: 07378625
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr P B Simpson
Director

Date: 12 February 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

STM Cleaning Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 07378625. The registered office is Solar House, 1st Floor, Romford Road, London, England, E15 4LJ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
Page 5

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Page 6

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Director
1
1


4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
58,000



At 31 January 2024

58,000



Amortisation


At 1 February 2023
58,000



At 31 January 2024

58,000



Net book value



At 31 January 2024
-



At 31 January 2023
-



Page 7

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 February 2023
24,351
19,601
43,952



At 31 January 2024

24,351
19,601
43,952



Depreciation


At 1 February 2023
17,077
12,626
29,703


Charge for the year on owned assets
7,274
6,975
14,249



At 31 January 2024

24,351
19,601
43,952



Net book value



At 31 January 2024
-
-
-



At 31 January 2023
7,274
6,975
14,249


6.


Debtors

2024
2023
£
£


Trade debtors
137,094
728,535

Other debtors
177,113
50,689

Prepayments and accrued income
39,572
168,818

353,779
948,042


Page 8

 
STM CLEANING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
42,267
171,370

Trade creditors
-
557,602

Amounts owed to group undertakings
534,653
-

Corporation tax
-
1,969

Accruals and deferred income
60,253
303,458

637,173
1,034,399


The bank overdraft of £42,267 (2023 - £171,370) is secured on the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Directors' loan account
-
23,902

-
23,902



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,231 (2023 - £25,228). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.


10.


Related party transactions

During the year, STM Group (UK) Ltd, a limited liability Company of which the director, Mr P B Simpson, is a shareholder, provided services to the Company totalling £2,596,655 (2023 - £3,200,271). The company also provided services to STM Group (UK) Ltd during the year totaling £2,596,655 (2023 - £3,200,271). As at 31 January 2024, the company was owed £534,653 by STM Group (UK) Ltd (2023 - £373,627). These transactions were on normal commercial terms.


11.


Controlling party

The company was under the control of  Mr P B Simpson throughout the current and prior year

 
Page 9