Stor Services Ltd - Period Ending 2021-12-31

Stor Services Ltd

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 6

Stor Services Ltd

Company Information

Directors

A A Ahsan G Brintalos

Registered office

14 Old Queen Street London SW1H 9HP

Accountants

Carbon Accountancy Limited Chartered Accountants 80-83 Long Lane London EC1A 9ET

Stor Services Ltd

(Registration number: 11135497)
Abridged Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	131,452	784,635
Cash at bank and in hand		390,605	414,928
		522,057	1,199,563
Creditors: Amounts falling due within one year		(401,746)	(1,240,224)
Total assets less current liabilities		120,311	(40,661)
Accruals and deferred income		(41,936)	(10,000)
Net assets/(liabilities)		78,375	(50,661)
Capital and reserves
Profit and loss account		78,375	(50,661)
Shareholders' funds/(deficit)		78,375	(50,661)

Stor Services Ltd

(Registration number: 11135497)
Abridged Balance Sheet as at 31 December 2021 (continued)

For the financial year ending 31 December 2021 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.

The value of company share capital is 0.01 and as the financial statements are rounded to £1, this is therefore not shown as a separate line item on the balance sheet.

 

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 25 August 2022 and signed on its behalf by:
 

......................................... A A Ahsan Director

......................................... G Brintalos Director

Stor Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
14 Old Queen Street
London
SW1H 9HP
England

These financial statements were authorised for issue by the Board on 25 August 2022.

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 abridged 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 abridged 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Stor Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021 (continued)

2	Accounting policies (continued)

Tax

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 0).

4

Debtors

Debtors includes £Nil (2020 - £Nil) due after more than one year.

5	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary share of £0.01 each	1	0.01	1	0.01

Stor Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021 (continued)

6	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2021 £	*As restated 2020 £
Remuneration	127,000	-

Summary of transactions with parent

Total amount of £392,633 due to Stor Holdings Limited, a parent company, included £385,210 in respect of an interest bearing loan which is repayable on demand and trade payables of £7,423.

During the year the company paid £68,726 in respect of the loan interest and £44,291 of management charges to the parent company Stor Holdings Limited.
 

Summary of transactions with all subsidiaries

Amounts owed by group undertakings include £131,451.55 due from Stor RB One Ltd, in respect of trade receivables. Stor RB One Ltd is a company that is part of the group headed by Stor Holdings Ltd.


 

7	Parent and ultimate parent undertaking

The company's immediate parent is Stor Holdings Limited, incorporated in England.