| REGISTERED NUMBER: |
| Storetec Services Limited |
| Financial Statements for the Year Ended 30th September 2024 |
| REGISTERED NUMBER: |
| Storetec Services Limited |
| Financial Statements for the Year Ended 30th September 2024 |
| Storetec Services Limited (Registered number: 04719444) |
| Contents of the Financial Statements |
| for the year ended 30th September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Storetec Services Limited |
| Company Information |
| for the year ended 30th September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| Storetec Services Limited (Registered number: 04719444) |
| Balance Sheet |
| 30th September 2024 |
| 2024 | 2023 |
| (Unaudited) |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Storetec Services Limited (Registered number: 04719444) |
| Notes to the Financial Statements |
| for the year ended 30th September 2024 |
| 1. | STATUTORY INFORMATION |
| Storetec Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the amounts invoiced during the year, exclusive of Value Added Tax. |
| Revenue from the provision of services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefit will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Impairments of fixed assets |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. |
| Prior impairments are also revalued for possible reversal at each reporting date. |
| Government grants |
| Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. |
| Government grants are recognised using the accrual model. |
| Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
| Storetec Services Limited (Registered number: 04719444) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions |
| Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and amount of the provision an an expense. |
| Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Storetec Services Limited (Registered number: 04719444) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1st October 2023 |
| Additions |
| At 30th September 2024 |
| AMORTISATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| (Unaudited) |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Storetec Services Limited (Registered number: 04719444) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| (Unaudited) |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| (Unaudited) |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase | contracts |
| 2024 | 2023 |
| (Unaudited |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| (Unaudited) |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| (Unaudited) |
| £ | £ |
| Deferred tax | 228,762 | 257,657 |
| Storetec Services Limited (Registered number: 04719444) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 |
| Provided during year | ( |
) |
| Balance at 30th September 2024 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| The prior period financial statements are unaudited. |
| for and on behalf of |
| 13. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Bridges Fund Management Limited. |