STORDIS Ltd 10932473 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is wholesale of computers, computer peripheral equipment and software, business and domestic software development and information technology consultancy activities. Digita Accounts Production Advanced 6.30.9574.0 true true 10932473 2024-01-01 2024-12-31 10932473 2024-12-31 10932473 core:CurrentFinancialInstruments 2024-12-31 10932473 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10932473 core:Non-currentFinancialInstruments 2024-12-31 10932473 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10932473 core:Goodwill 2024-12-31 10932473 core:FurnitureFittingsToolsEquipment 2024-12-31 10932473 1 2024-12-31 10932473 bus:SmallEntities 2024-01-01 2024-12-31 10932473 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10932473 bus:FilletedAccounts 2024-01-01 2024-12-31 10932473 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10932473 bus:RegisteredOffice 2024-01-01 2024-12-31 10932473 bus:Director3 2024-01-01 2024-12-31 10932473 bus:Director5 2024-01-01 2024-12-31 10932473 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10932473 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10932473 bus:Agent1 2024-01-01 2024-12-31 10932473 core:ComputerSoftware 2024-01-01 2024-12-31 10932473 core:Goodwill 2024-01-01 2024-12-31 10932473 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 10932473 core:LandBuildings 2024-01-01 2024-12-31 10932473 core:OfficeEquipment 2024-01-01 2024-12-31 10932473 1 2024-01-01 2024-12-31 10932473 countries:EnglandWales 2024-01-01 2024-12-31 10932473 core:Goodwill 2023-12-31 10932473 core:FurnitureFittingsToolsEquipment 2023-12-31 10932473 2023-01-01 2023-12-31 10932473 2023-12-31 10932473 core:CurrentFinancialInstruments 2023-12-31 10932473 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10932473 core:Non-currentFinancialInstruments 2023-12-31 10932473 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10932473 core:Goodwill 2023-12-31 10932473 core:FurnitureFittingsToolsEquipment 2023-12-31 10932473 1 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 10932473

Prepared for the registrar

STORDIS Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

STORDIS Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

STORDIS Ltd

Company Information

Directors

W Scheck

C Owusu

Registered office

Windsor House
Bayshill Road
Cheltenham
GL50 3AT

Accountants

Hazlewoods LLP Staverton Court
Staverton
Cheltenham
GL51 0UX

 

STORDIS Ltd

(Registration number: 10932473)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,037

2,284

Tangible assets

5

146

468

 

2,183

2,752

Current assets

 

Debtors

6

155,190

248,464

Cash at bank and in hand

 

75,212

11,343

 

230,402

259,807

Creditors: Amounts falling due within one year

7

(249,546)

(389,181)

Net current liabilities

 

(19,144)

(129,374)

Total assets less current liabilities

 

(16,961)

(126,622)

Creditors: Amounts falling due after more than one year

7

(4,421)

(14,302)

Net liabilities

 

(21,382)

(140,924)

Capital and reserves

 

Called up share capital

9

900

900

Retained earnings

(22,282)

(141,824)

Shareholders' deficit

 

(21,382)

(140,924)

For the financial year ending 31 December 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.

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 17 June 2025 and signed on its behalf by:
 


W Scheck
Director

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 and after eliminating sales within the company.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Over 3 years

Furniture, fittings and equipment

Over 5-10 years

Intangible assets

Intangible assets represent software licences at cost recognised at the date of acquisition.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software licence

Over 15 years

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

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.

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

4

Intangible assets

Software licence
£

Cost

At 1 January 2024 and 31 December 2024

3,700

Amortisation

At 1 January 2024

1,416

Amortisation charge

247

At 31 December 2024

1,663

Carrying amount

At 31 December 2024

2,037

At 31 December 2023

2,284

 

5

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 January 2024

5,110

Disposals

(1,732)

At 31 December 2024

3,378

Depreciation

At 1 January 2024

4,641

Charge for the year

323

Eliminated on disposal

(1,732)

At 31 December 2024

3,232

Carrying amount

At 31 December 2024

146

At 31 December 2023

468

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

6

Debtors

2024
£

2023
£

Trade debtors

151,022

238,370

Prepayments

3,989

4,782

Deferred tax assets

179

5,312

155,190

248,464

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,392

10,649

Trade creditors

 

37,565

99,146

Amounts due to related parties

 

522

265,616

Taxation and social security

 

166,823

8,992

Accruals and deferred income

 

32,805

3,620

Other creditors

 

1,439

1,158

 

249,546

389,181

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,421

14,302

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,392

10,649

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,421

14,302

Bank borrowings

Bounce Back Loan is denominated in GB£ with a nominal interest rate of 2.5%, and the final instalment is due on 31 May 2026. The carrying amount at year end is £14,813 (2023 - £24,951).

 

STORDIS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A ordinary of £1 each

470

470

470

470

B ordinary of £1 each

330

330

330

330

C ordinary of £1 each

50

50

50

50

D ordinary of £1 each

50

50

50

50

 

900

900

900

900

Rights, preferences and restrictions

All shares carry equal rights and can be voted dividends independently.

 

10

Parent and ultimate parent undertaking

The company's immediate parent is STORDIS GmbH, which is incorporated in Germany and the registered office being: Ruebteile 24, 72574 Bad Urach, Germany.