Company No:
Contents
| DIRECTORS | Christopher Armstrong Box (Appointed 09 May 2023) |
| Justin Lee Olszeski (Appointed 01 April 2024) | |
| Brett Alan Schrader (Appointed 09 May 2023) | |
| Dorothy Camp Upperman (Appointed 09 May 2023, Resigned 01 April 2024) |
| REGISTERED OFFICE | C/O Corporation Service Company (Uk) Limited |
| 5 Churchill Place | |
| London | |
| E14 5HU | |
| United Kingdom |
| COMPANY NUMBER | 14857357 (England and Wales) |
| AUDITOR | Gravita Audit II Limited |
| Statutory Auditor | |
| Aldgate Tower | |
| 2 Leman Street | |
| London | |
| E1 8FA | |
| United Kingdom |
| Note | 31.12.2023 | |
| $ | ||
| Current assets | ||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 376,834 | ||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 72,520 | |
| Total assets less current liabilities | 72,520 | |
| Net assets |
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| Capital and reserves | ||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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The financial statements of Stronghold Companies U.K. LTD (registered number:
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Christopher Armstrong Box
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Stronghold Companies U.K. LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Corporation Service Company (Uk) Limited, 5 Churchill Place, London, E14 5HU, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in USD which is the functional currency of the Company and rounded to the nearest $.
The Company was established in the UK to support a key strategic customer. All trading and operational activities have now ceased, and there are no plans to undertake any further business. The directors have therefore resolved to commence the process of striking the Company off the register at Companies House in due course. As a consequence the directors have prepared the financial statements on a basis other than that of going concern.
The Company was incorporated on 9 May 2023 and this is the first accounting period from 9 May 2023 to 31 December 2023.
*Time and Materials (T&M)*
Revenue is recognised as costs are incurred and services are rendered, based on agreed rates for labour and materials. This method is applied to contracts where consideration is directly linked to the time spent and materials used in delivering the services.
*Percentage of Completion (PoC)*
Revenue from long-term contracts is recognised based on the stage of completion of the contract when the outcome can be reliably estimated. The stage of completion is determined on an input basis, by comparing costs incurred to date with the estimated total costs required to complete the contract.
Where the outcome of a contract cannot be predicted with a sufficient degree of accuracy, revenue is recognised on the basis of costs incurred, and restricted to the revel of such costs, until there is appropriate certainty as to the level of expected total profit.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, consisting of creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company consist only of called-up share capital, which is recorded at the fair value of cash receivable.
| Period from 09.05.2023 to 31.12.2023 |
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| Number | |
| Monthly average number of persons employed by the Company during the period |
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During the year a monthly average of 4 employees were seconded from a Group company. They are not included in the above.
| 31.12.2023 | |
| $ | |
| Amounts owed by Group undertakings |
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| Other debtors |
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| 31.12.2023 | |
| $ | |
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to Parent undertakings |
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| Other taxation and social security |
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| Other creditors |
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We draw attention to the disclosure made in Note 1 to the financial statements, which explains that the financial statements have been prepared on a basis other than going concern for reasons set out in that note. Our opinion is not modified in respect of this matter.
The audit report was signed by Luke Metson FCA FCCA on behalf of Gravita Audit II Limited.
The immediate parent company is Stronghold Holdings (BVI) Limited registered at Kingston Chambers, PO Box 173, Sea Meadow House, Road Town, Tortola, VG1110, British Virgin Islands.
The ultimate parent company is Quanta Services, Inc. registered at 2727 North Loop West, Houston, Texas, 77008, USA. The smallest and largest group in which the results of the Company are consolidated is that headed by Quanta Services, Inc. (registered at 2727 North Loop West, Houston, Texas, 77008, USA).