STS Industrial Limited 02330164 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the provision of goods and services to Westram Limited Digita Accounts Production Advanced 6.30.9574.0 true 02330164 2023-11-01 2024-10-31 02330164 2024-10-31 02330164 bus:OrdinaryShareClass1 2024-10-31 02330164 core:RetainedEarningsAccumulatedLosses 2024-10-31 02330164 core:ShareCapital 2024-10-31 02330164 core:CurrentFinancialInstruments 2024-10-31 02330164 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 02330164 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 02330164 core:MotorVehicles 2024-10-31 02330164 1 2024-10-31 02330164 bus:SmallEntities 2023-11-01 2024-10-31 02330164 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 02330164 bus:FilletedAccounts 2023-11-01 2024-10-31 02330164 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02330164 bus:RegisteredOffice 2023-11-01 2024-10-31 02330164 bus:Director4 2023-11-01 2024-10-31 02330164 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 02330164 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02330164 core:MotorVehicles 2023-11-01 2024-10-31 02330164 countries:EnglandWales 2023-11-01 2024-10-31 02330164 1 2023-11-01 2024-10-31 02330164 2023-10-31 02330164 core:MotorVehicles 2023-10-31 02330164 1 2023-10-31 02330164 2022-11-01 2023-10-31 02330164 2023-10-31 02330164 bus:OrdinaryShareClass1 2023-10-31 02330164 core:RetainedEarningsAccumulatedLosses 2023-10-31 02330164 core:ShareCapital 2023-10-31 02330164 core:CurrentFinancialInstruments 2023-10-31 02330164 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02330164 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 02330164 core:MotorVehicles 2023-10-31 02330164 1 2023-10-31 02330164 1 2022-11-01 2023-10-31 02330164 1 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02330164

STS Industrial Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

STS Industrial Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

STS Industrial Limited

(Registration number: 02330164)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

178,960

160,318

Current assets

 

Debtors

5

411,622

500,704

Cash at bank and in hand

 

491

4,609

 

412,113

505,313

Creditors: Amounts falling due within one year

6

(154,440)

(224,406)

Net current assets

 

257,673

280,907

Total assets less current liabilities

 

436,633

441,225

Creditors: Amounts falling due after more than one year

6

(123,650)

(101,202)

Net assets

 

312,983

340,023

Capital and reserves

 

Called up share capital

7

300,100

300,100

Retained earnings

12,883

39,923

Shareholders' funds

 

312,983

340,023

For the financial year ending 31 October 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 29 July 2025 and signed on its behalf by:
 

.........................................
M J Swan
Director

 

STS Industrial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
44 Newdown Road
South Park Industrial Estate
Scunthorpe
North Lincolnshire
DN17 2TX

These financial statements were authorised for issue by the Board on 29 July 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.

The financial statements are prepared in pounds sterling and are rounded to the nearest £1.

The financial statements represent the company as an individual entity, the company not forming part of a group.

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.

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.

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 income 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 income 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.

 

STS Industrial Limited

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

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

Motor Vehicles

25% reducing balance basis

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

STS Industrial Limited

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

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

273,971

273,971

Additions

100,933

100,933

Disposals

(66,332)

(66,332)

At 31 October 2024

308,572

308,572

Depreciation

At 1 November 2023

113,653

113,653

Charge for the year

65,464

65,464

Eliminated on disposal

(49,505)

(49,505)

At 31 October 2024

129,612

129,612

Carrying amount

At 31 October 2024

178,960

178,960

At 31 October 2023

160,318

160,318

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

44,819

77,618

Amounts owed by related parties

9

335,737

335,737

Other debtors

 

31,066

87,349

   

411,622

500,704

 

STS Industrial Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

66,882

116,456

Trade creditors

 

31,728

36,786

Taxation and social security

 

20,052

16,529

Accruals and deferred income

 

3,638

23,190

Other creditors

 

32,140

31,445

 

154,440

224,406

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £66,882 (2023: £116,456)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

123,650

101,202

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £123,650 (2023: £101,202)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

300,100

300,100

300,100

300,100

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £1,311,823 (2023 - £1,328,123). STS Industrial Limited has provided Bibby Financial Services Limited with a cross guarantee in respect of the invoice finance agreement that is in place with Modular Movements Limited.

 

STS Industrial Limited

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

9

Related party transactions

Transactions with Directors

2024

At 1 November 2023
£

At 31 October 2024
£

Interest Free Loan - Joint Between the Directors

8,588

8,588

 

2023

At 1 November 2022
£

Advances to Director
£

Repayments by Director
£

At 31 October 2023
£

Interest Free Loan - Joint Between the Directors

13,870

12,000

(17,282)

8,588