30/06/2019
2019-06-30
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No description of principal activities is disclosed
2018-07-01
Sage Accounts Production 19.0 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
02773796
2018-07-01
2019-06-30
02773796
2019-06-30
02773796
2018-06-30
02773796
2017-07-01
2018-06-30
02773796
2018-06-30
02773796
core:FurnitureFittingsToolsEquipment
2018-07-01
2019-06-30
02773796
bus:Director1
2018-07-01
2019-06-30
02773796
core:WithinOneYear
2019-06-30
02773796
core:WithinOneYear
2018-06-30
02773796
core:FurnitureFittingsToolsEquipment
2018-06-30
02773796
core:FurnitureFittingsToolsEquipment
2019-06-30
02773796
core:ShareCapital
2019-06-30
02773796
core:ShareCapital
2018-06-30
02773796
core:RetainedEarningsAccumulatedLosses
2019-06-30
02773796
core:RetainedEarningsAccumulatedLosses
2018-06-30
02773796
bus:Director1
2018-06-30
02773796
bus:Director1
2019-06-30
02773796
bus:Director1
2017-06-30
02773796
bus:Director1
2018-06-30
02773796
bus:Director1
2017-07-01
2018-06-30
02773796
bus:SmallEntities
2018-07-01
2019-06-30
02773796
bus:AuditExemptWithAccountantsReport
2018-07-01
2019-06-30
02773796
bus:FullAccounts
2018-07-01
2019-06-30
02773796
bus:SmallCompaniesRegimeForAccounts
2018-07-01
2019-06-30
02773796
bus:PrivateLimitedCompanyLtd
2018-07-01
2019-06-30
Company registration number:
02773796
STMC Limited
Unaudited filleted financial statements
30 June 2019
STMC LIMITED
Contents
Statement of financial position
Notes to the financial statements
STMC LIMITED
STATEMENT OF FINANCIAL POSITION
30 JUNE 2019
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2019
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2018
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Note
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£
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£
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£
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£
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|
|
|
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|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
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Tangible assets
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5
|
500
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|
-
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|
|
|
|
|
_______
|
|
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|
_______
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|
|
|
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|
500
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|
|
-
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Current assets
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Debtors
|
|
6
|
5,364
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|
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|
28,301
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|
|
Cash at bank and in hand
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|
|
46,514
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|
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|
16,720
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|
|
|
|
|
_______
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|
_______
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51,878
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|
|
|
45,021
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|
|
Creditors: amounts falling due
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|
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|
|
|
within one year
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|
7
|
(
32,403)
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(
11,482)
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|
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|
_______
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_______
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Net current assets
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19,475
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33,539
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|
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|
_______
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|
_______
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Total assets less current liabilities
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19,975
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33,539
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|
|
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|
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Provisions for liabilities
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(
95)
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-
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|
|
|
|
|
|
|
|
_______
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|
|
|
_______
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Net assets
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19,880
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|
33,539
|
|
|
|
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|
_______
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|
_______
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Capital and reserves
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Called up share capital
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|
100
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|
|
|
100
|
Profit and loss account
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|
8
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|
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19,780
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33,439
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|
|
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|
_______
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_______
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Shareholders funds
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19,880
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33,539
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|
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|
_______
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_______
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For the year ending 30 June 2019 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 March 2020
, and are signed on behalf of the board by:
Mr M C Woolford
Director
Company registration number:
02773796
STMC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2019
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Stanhope House, 9-10 Fore Street, Holsworthy, Devon, EX22 6DT.
Principal activity
The principal activities of the company were the supply of technical assistance in international development aid and the provision of executive director services to a developing country survey company.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment
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-
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15 %
|
straight line
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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 reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 the amount of the provision as 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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Tangible assets
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Fixtures, fittings and equipment
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Total
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£
|
£
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Cost
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At 1 July 2018
|
7,051
|
7,051
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Additions
|
595
|
595
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|
|
|
|
|
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_______
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_______
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At 30 June 2019
|
7,646
|
7,646
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|
|
|
|
|
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_______
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_______
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|
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Depreciation
|
|
|
|
|
|
|
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|
At 1 July 2018
|
7,051
|
7,051
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|
|
|
|
|
|
Charge for the year
|
95
|
95
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|
|
|
|
|
|
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_______
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_______
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|
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|
|
At 30 June 2019
|
7,146
|
7,146
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|
|
|
|
|
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_______
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_______
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Carrying amount
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At 30 June 2019
|
500
|
500
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_______
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_______
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At 30 June 2018
|
-
|
-
|
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_______
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_______
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6.
Debtors
|
|
|
2019
|
2018
|
|
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|
£
|
£
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|
Trade debtors
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3,380
|
26,445
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|
Other debtors
|
|
1,984
|
1,856
|
|
|
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_______
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_______
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5,364
|
28,301
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_______
|
_______
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|
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|
|
|
7.
Creditors: amounts falling due within one year
|
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|
2019
|
2018
|
|
|
|
£
|
£
|
|
Accruals and deferred income
|
|
2,616
|
2,090
|
|
Social security and other taxes
|
|
2,006
|
5,466
|
|
Other creditors
|
|
27,781
|
3,926
|
|
|
|
_______
|
_______
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|
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32,403
|
11,482
|
|
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|
_______
|
_______
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8.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company:
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Loans to / (from) directors at 1 July 2018
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Loans to / (from) the directors
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Amounts repaid
|
Balance at 30 June 2019
|
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|
|
£
|
£
|
£
|
£
|
|
|
|
The Directors
|
(
3,926)
|
(
26,480)
|
2,625
|
(
27,781)
|
|
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_______
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_______
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_______
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_______
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Loans to / (from) directors at 1 July 2017
|
Loans to / (from) the directors
|
Amounts repaid
|
Balance at 30 June 2018
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
The Directors
|
(
15,836)
|
(
26,090)
|
38,000
|
(
3,926)
|
|
|
|
|
_______
|
_______
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_______
|
_______
|
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