Stellar Trading Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06415161 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

STELLAR TRADING SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

S Thomas

P Brayshaw

SECRETARY:

J C R Batty

REGISTERED OFFICE:

46 Bow Lane

London

EC4M 9DL

REGISTERED NUMBER:

06415161 (England and Wales)

AUDITORS:

Wilkins Kennedy Audit Services

Statutory Auditor

2nd Floor, Regis House

45 King William Street

London

EC4R 9AN

FIXED ASSETS

Tangible assets

4

66,264

76,409

Investments

5

4,289,477

4,310,295

4,355,741

4,386,704

CURRENT ASSETS

Debtors

6

2,062,460

3,234,790

Cash at bank

23,018,144

20,124,178

25,080,604

23,358,968

CREDITORS

Amounts falling due within one year

7

2,064,330

2,660,551

NET CURRENT ASSETS

23,016,274

20,698,417

TOTAL ASSETS LESS CURRENT LIABILITIES

27,372,015

25,085,121

PROVISIONS FOR LIABILITIES

1,559,355

1,548,090

NET ASSETS

25,812,660

23,537,031

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

25,812,659

23,537,030

SHAREHOLDERS' FUNDS

25,812,660

23,537,031

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2019 and were signed on its behalf by:

S Thomas - Director

1.	STATUTORY INFORMATION

Stellar Trading Systems Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the invoiced value of services supplied, net of VAT and trade discounts. Income from the

sale of software licences is recognised once a signed contract exists and rateably over the period to which the

contract relates . If a transaction includes both licence and implementation elements the combined revenue is

recognised on a percentage of completion basis. Income from support services is billed in advance and credited

to the profit and loss account on a straight line basis over the period of the contract.

Tangible fixed assets

Tangible fixed assets are recorded at cost less depreciation. Depreciation is provided at the following annual

rates in order to write off the asset over its estimated useful life under the straight line method.

Plant and machinery

50% on cost

Furniture and fittings

33% on cost

Computer equipment

50% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Long term incentive plan

The Company has a long term incentive plan under which certain employees are awarded a portion of their

remuneration on a deferred basis. Awards generally vest on a graduated basis over a period of several years.

Deferred remuneration costs are recognised over the vesting period.

At each balance sheet date the company revises its estimates for the number of tranches of awards which are

expected to vest. It recognises the impact of the revision to original estimates, if any, in the profit and loss

account.

Investments

Listed investments are recognised initially at fair value which is normally the transaction price. Subsequently they

are re-measured at fair value through the statement of comprehensive income.

Investments that are not publicly traded and whose fair value cannot otherwise be measured reliably are

recognised at cost less impairment until a reliable measure of fair value becomes available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2017

38,223

14,507

123,697

176,427

Additions

-

-

59,145

59,145

At 30 November 2018

38,223

14,507

182,842

235,572

DEPRECIATION

At 1 December 2017

22,298

8,496

69,224

100,018

Charge for year

12,613

4,787

51,890

69,290

At 30 November 2018

34,911

13,283

121,114

169,308

NET BOOK VALUE

At 30 November 2018

3,312

1,224

61,728

66,264

At 30 November 2017

15,925

6,011

54,473

76,409

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 December 2017

4,310,295

Additions

105,214

Impairments

(126,032

)

At 30 November 2018

4,289,477

NET BOOK VALUE

At 30 November 2018

4,289,477

At 30 November 2017

4,310,295

Cost or valuation at 30 November 2018 is represented by:

Listed

investments

£

Valuation in 2018

156,589

Cost

4,132,888

4,289,477

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

331,645

2,296,502

Owed by related companies

419,432

81,316

Other debtors

11,829

8,634

Directors' current accounts

42,284

-

Prepayments and accrued income

1,257,270

848,338

2,062,460

3,234,790

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

786,419

497,330

Amounts owed to group undertakings

-

370,415

Corporation tax

(148,591

)

239,409

Social security and other taxes

53,489

54,316

VAT

78,779

407,697

Accruals and deferred income

1,294,234

1,091,384

2,064,330

2,660,551

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

0.1

1

1

The issued capital has been rounded up to the nearest pound.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robin Haslam (Senior Statutory Auditor)

for and on behalf of Wilkins Kennedy Audit Services

10.	OTHER FINANCIAL COMMITMENTS

The company has a property rental obligation of £132,000 to the end of its lease in 2019.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2018 and

30 November 2017:

2018

2017

£

£

S Thomas

Balance outstanding at start of year

-

167,000

Amounts advanced

42,284

151,571

Amounts repaid

-

(318,571

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

42,284

-

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Stellar Trading Group Ltd.

The ultimate controlling party is S Thomas.