STUK03 Ltd - Filleted accounts

Registered number

11729927

STUK03 Ltd

Filleted Accounts for the year ended

31 December 2024

STUK03 Ltd
Registered number:		11729927
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	4		130,520			216,582

Current assets
Stocks		20,000			20,000
Debtors	5	132,434			122,082
Cash at bank and in hand		18,390			2,362
		170,824			144,444

Creditors: amounts falling due within one year	6	(1,721,064)			(1,507,536)

Net current liabilities			(1,550,240)			(1,363,092)

Net liabilities			(1,419,720)			(1,146,510)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(1,419,820)			(1,146,610)

Shareholders' funds			(1,419,720)			(1,146,510)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




S A Alexandrou
Director
Approved by the board on 30 September 2025

STUK03 Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Going concern

	The accounts have been prepared on the going concern basis assuming the continued support of its creditors. There are loans with associated companies and former directors totalling £1,542,271 included in creditors. There is no set repayment date for these and there are no plans for these loans to be repaid until the company is in a position to do so.


3	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			15		20


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	86,082		387,270		473,352
	At 31 December 2024	86,082		387,270		473,352

	Depreciation
	At 1 January 2024	26,217		230,553		256,770
	Charge for the year	8,608		77,454		86,062
	At 31 December 2024	34,825		308,007		342,832

	Net book value
	At 31 December 2024	51,257		79,263		130,520
	At 31 December 2023	59,865		156,717		216,582


5	Debtors			2024		2023
£					£

	Rent deposit			84,000		84,000
	Prepayments			47,084		37,832
	Other debtors			1,350		250
				132,434		122,082

	Amounts due after more than one year included above			84,000		84,000


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			104,329		104,090
	Associated company loans			1,296,821		1,098,564
	Other loans			14,438		14,438
	Taxation and social security costs			52,365		31,727
	Directors loan			245,450		245,200
	Accruals			7,661		13,517
				1,721,064		1,507,536


7	Other financial commitments			2024		2023
£					£

	Total future minimum payments under non-cancellable operating leases			782,849		922,849


8	Related party transactions

	Included in creditors are loans owed to: Atlantic Lodge (Housing) Ltd - £878,287 (2023 - 7501,030) STUK01 Ltd - £88,000 (2023 - £88,000) Atlantic (Hertford) Ltd - £110,000 (2023 - £110,000) Icospec Ltd - £18,000 (2023 - £18,000) Southern Territory (UK) Ltd - £26,000 (2023 - £5,000) Southern Territory Ltd - £13,000 (2023 - £13,000) Real Properties Ltd - £28,000 (2023 - £28,000) Atlantic Cudworth Ltd - £20,000 (2023 - £20,000) STUK10 Ltd - £115,534 (2023 - £115,534) These are companies in which the former directors A Alexandrou and G Leonidas have interests in. The current director S A Alexandrou is the son of A Alexandrou. There is no set repayment date for these loans.


9	Transactions with directors and former directors

	As at 31 December 2024, the former directors had loaned the company £245,450 as follows: B S Karatas £214,200 T G Williams £31,250 There is no set repayment date for these loans.


10	Controlling party

	There is no ultimate controlling party. A Alexandrou (the father of the director S Alexandrou) holds 40% of the shares and his business partner in other companies G Leonidas also holds 40% of the shares. Combined as business partners they have a controlling interest in the company.


11	Other information

	STUK03 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Atlantic Business Centre
	1 The Green
	London
	E4 7ES