2023-08-01 03406904 2024-07-31 03406904 2023-08-01 2024-07-31 03406904 2023-07-31 03406904 2022-08-01 2023-07-31 03406904 uk-core:WithinOneYear 2023-07-31 03406904 uk-core:WithinOneYear 2024-07-31 03406904 uk-core:ShareCapital 2024-07-31 03406904 uk-core:ShareCapital 2023-07-31 03406904 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 03406904 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 03406904 uk-bus:Director1 2023-08-01 2024-07-31 03406904 uk-core:PlantMachinery 2023-08-01 2024-07-31 03406904 uk-core:OfficeEquipment 2023-08-01 2024-07-31 03406904 uk-core:MotorVehicles 2023-08-01 2024-07-31 03406904 uk-core:FurnitureFittings 2023-08-01 2024-07-31 03406904 uk-core:OfficeEquipment 2023-07-31 03406904 uk-core:FurnitureFittings 2023-07-31 03406904 uk-core:MotorVehicles 2023-07-31 03406904 uk-core:PlantMachinery 2023-07-31 03406904 uk-core:LandBuildings 2023-07-31 03406904 uk-core:LandBuildings 2023-08-01 2024-07-31 03406904 uk-core:LandBuildings 2024-07-31 03406904 uk-core:MotorVehicles 2024-07-31 03406904 uk-core:FurnitureFittings 2024-07-31 03406904 uk-core:OfficeEquipment 2024-07-31 03406904 uk-core:PlantMachinery 2024-07-31 03406904 uk-core:BetweenTwoFiveYears 2023-07-31 03406904 uk-core:BetweenTwoFiveYears 2024-07-31 iso4217:GBP xbrli:pure 03406904 uk-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03406904 uk-bus:FRS102 2023-08-01 2024-07-31 03406904 uk-bus:FilletedAccounts 2023-08-01 2024-07-31 03406904 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31
Staitech Limited
Registered Number:03406904
For the year ended 31 July 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2024
Staitech Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
03406904
As at 31 July 2024
Staitech Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
4,206,055
1,198,614
2
4,206,055
1,198,614
Current assets
Inventories
233,012
245,000
3
Trade and other receivables
1,420,433
1,264,560
4
4,780,936
Cash and cash equivalents
3,429,898
4,939,458
6,434,381
Trade and other payables: amounts falling due within one year
(829,466)
(1,061,839)
5
5,604,915
3,877,619
Net current assets
Total assets less current liabilities
8,083,674
6,803,529
(123,701)
(25,644)
Provisions for liabilities
7,959,973
Net assets
6,777,885
Capital and reserves
Called up share capital
2
2
Retained earnings
7,959,971
6,777,883
7,959,973
6,777,885
Shareholders' funds
For the year ended 31 July 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Andrew William Lewis Ferguson Director
These financial statements were approved and authorised for issue by the Board on 28 April 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2024
Staitech Limited
Notes to the Financial Statements
Statutory Information
Staitech Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
03406904.
Registered address:
Unit 1000 Sperry Way
Stonehouse Park
Stonehouse
Gloucestershire
GL10 3UT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10% to 25% Reducing balance
20% Reducing balance
Office equipment
25% Reducing balance
Motor vehicles
20% Reducing balance
Furniture and fittings
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell.. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
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5
For the year ended 31 July 2024
Staitech Limited
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Property, plant and equipment
Total
Office
equipment
Furniture and
fittings
Motor vehicles
Plant and
machinery
Land &
Buildings
£
£
£
£
£
£
Cost or valuation
At 01 August 2023
2,076,407
82,333
9,831
285,100
922,720
776,423
3,249,676
279
-
32,995
598,183
2,618,219
Additions
At 31 July 2024
3,394,642
318,095
9,831
82,612
5,326,083
1,520,903
Provision for depreciation and impairment
At 01 August 2023
877,793
65,121
8,997
133,038
670,637
-
Charge for year
242,235
3,498
167
46,265
192,305
-
At 31 July 2024
1,120,028
68,619
9,164
179,303
862,942
-
At 31 July 2024
Net book value
3,394,642
657,961
138,792
667
13,993
4,206,055
776,423
252,083
152,062
834
17,212
1,198,614
At 31 July 2023
3. Inventories
2023
2024
£
£
Stocks
245,000
233,012
4. Trade and other receivables
2023
2024
£
£
Trade debtors
668,033
1,003,939
Other debtors
596,527
416,494
1,420,433
1,264,560
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6
For the year ended 31 July 2024
Staitech Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
765,451
342,435
Taxation and social security
286,238
454,766
Other creditors
10,150
32,265
1,061,839
829,466
6. Guarantees and other financial commitments
Lease commitments
At 31 July 2024 the company had annual commitments under non-cancellable operating leases as set out below:
2023
£
2024
£
Operating leases which expire:
29,505
-
Within 1 year
21,368
-
Within 2 to 5 years
29,505
21,368
7. Average number of persons employed
During the year the average number of employees was 16 (2023 : 16)
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