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Registration number: 07348421

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Statech UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Statech UK Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Statech UK Ltd

Company Information

Directors

Mr Matthew Stancer

Mr Darren William Davies

Mr Shaun David Watts

Registered office

198 Seagate Road
Long Sutton
Spalding
Lincolnshire
PE12 9AD

 

Statech UK Ltd

(Registration number: 07348421)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

348,640

310,281

Current assets

 

Debtors

5

509,521

194,616

Cash at bank and in hand

 

166,681

311,490

 

676,202

506,106

Creditors: Amounts falling due within one year

6

(331,547)

(178,693)

Net current assets

 

344,655

327,413

Total assets less current liabilities

 

693,295

637,694

Creditors: Amounts falling due after more than one year

6

(101,987)

(118,688)

Provisions for liabilities

(16,594)

(15,953)

Net assets

 

574,714

503,053

Capital and reserves

 

Called up share capital

7

36

36

Retained earnings

574,678

503,017

Shareholders' funds

 

574,714

503,053

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Statech UK Ltd

(Registration number: 07348421)
Balance Sheet as at 30 September 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
Mr Matthew Stancer
Director

.........................................
Mr Darren William Davies
Director

.........................................
Mr Shaun David Watts
Director

     
 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
198 Seagate Road
Long Sutton
Spalding
Lincolnshire
PE12 9AD

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are credited to the profit and loss in the period when all performance-related conditions have been met.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Plant and machinery

20% reducing balance

Motor vehicle

25% reducing balance

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 20).

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

291,755

13,308

58,887

121,357

485,307

Additions

41,700

1,258

15,500

3,893

62,351

At 30 September 2024

333,455

14,566

74,387

125,250

547,658

Depreciation

At 1 October 2023

45,287

11,374

34,403

83,962

175,026

Charge for the year

5,904

1,039

9,027

8,022

23,992

At 30 September 2024

51,191

12,413

43,430

91,984

199,018

Carrying amount

At 30 September 2024

282,264

2,153

30,957

33,266

348,640

At 30 September 2023

246,468

1,934

24,484

37,395

310,281

Included within the net book value of land and buildings above is £282,263 (2023 - £246,468) in respect of freehold land and buildings.
 

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

508,538

193,625

Prepayments

983

991

 

509,521

194,616

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

17,203

16,953

Trade creditors

 

113,574

55,277

Taxation and social security

 

186,964

96,534

Other creditors

 

13,806

9,929

 

331,547

178,693

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £17,203 (2023 - £16,953).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

101,987

118,688

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £101,987 (2023 - £118,688).

 

Statech UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

12

12

12

12

Ordinary B shares of £1 each

12

12

12

12

Ordinary C shares of £1 each

12

12

12

12

36

36

36

36

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

101,987

118,688

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,203

16,953

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

35,550

35,550

Contributions paid to money purchase schemes

1,066

1,693

36,616

37,243