STS Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10322619 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

STS Developments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S A Bratby

Mr T J Kaby

Mr S Patel

REGISTERED OFFICE:

1 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

REGISTERED NUMBER:

10322619 (England and Wales)

ACCOUNTANTS:

Godfrey Laws & Co Limited

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

CURRENT ASSETS

Debtors

4

196,195

1,226,207

Cash at bank

9,012

70,060

205,207

1,296,267

CREDITORS

Amounts falling due within one year

5

205,206

1,296,266

NET CURRENT ASSETS

1

1

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

1

1

1

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 6 September 2022 and were signed on its behalf by:

Mr S A Bratby - Director

1.	STATUTORY INFORMATION

STS Developments Ltd 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.

Going concern

The financial statements have been prepared on going concern basis. The company was able to meet its working capital requirements through loan from directors. The directors have confirmed refinance of loan if required in foreseeable future.

Turnover and Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised based on the stage of completion, if the outcome can be reliably measured. If the outcome cannot be measured reliably then contract costs are expensed as incurred, and revenue is recognised only to the extent of those costs. If the contract as a whole is expected to be loss-making, then the whole expected loss is recognised immediately, with the liability being included as a provision for an onerous contract.

STS Developments Ltd operates as joint venture for various projects pursued by its controlling parties. At the yearend, the joint venture profit/loss is split equally between the controlling parties. The controlling parties are individually responsible for accounting for their own share of the joint venture profit/loss from the yearend accounts of STS Developments Ltd.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Other debtors

196,195

1,226,207

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Bank loans and overdrafts

48,164

766,767

Trade creditors

-

53,231

Other creditors

157,042

476,268

205,206

1,296,266

6.	ULTIMATE CONTROLLING PARTY

The directors Mr S A Bratby, Mr T J Kaby and Mr S Patel jointly share control by virtue of equal shareholding.