Stormont Specialist Services Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04699926 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Stormont Specialist Services Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Miss J J Wakeford

SECRETARY:

Mr R J Wakeford

REGISTERED OFFICE:

Milton House

Gatehouse Road

Aylesbury

Buckinghamshire

HP19 8EA

REGISTERED NUMBER:

04699926 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Milton House

Gatehouse Road

Aylesbury

Buckinghamshire

HP19 8EA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stormont Specialist Services Ltd for the year ended 31 March 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stormont Specialist Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stormont Specialist Services Ltd and state those matters that we have agreed to state to the director of Stormont Specialist Services Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stormont Specialist Services Ltd and its director for our work or for this report.

It is your duty to ensure that Stormont Specialist Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stormont Specialist Services Ltd. You consider that Stormont Specialist Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stormont Specialist Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

Milton House

Gatehouse Road

Aylesbury

Buckinghamshire

HP19 8EA

20 December 2021

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

3,540

2,376

3,540

2,376

CURRENT ASSETS

Stocks

340

-

Debtors

6

13,850

14,172

Cash at bank

69,584

56,484

83,774

70,656

CREDITORS

Amounts falling due within one year

7

69,065

56,206

NET CURRENT ASSETS

14,709

14,450

TOTAL ASSETS LESS CURRENT LIABILITIES

18,249

16,826

PROVISIONS FOR LIABILITIES

816

485

NET ASSETS

17,433

16,341

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

17,432

16,340

SHAREHOLDERS' FUNDS

17,433

16,341

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

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

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2021 and were signed by:

Miss J J Wakeford - Director

1.	STATUTORY INFORMATION

Stormont Specialist Services 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.

The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Director has tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Director has concluded that they can continue to adopt the going concern basis in preparing the annual report and account.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

5,000

AMORTISATION

At 1 April 2020

and 31 March 2021

5,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

16,685

Additions

3,304

Disposals

(1,464

)

At 31 March 2021

18,525

DEPRECIATION

At 1 April 2020

14,309

Charge for year

2,140

Eliminated on disposal

(1,464

)

At 31 March 2021

14,985

NET BOOK VALUE

At 31 March 2021

3,540

At 31 March 2020

2,376

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Trade debtors

13,253

13,450

Other debtors

597

722

13,850

14,172

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Trade creditors

591

1,033

Taxation and social security

11,225

10,031

Other creditors

57,249

45,142

69,065

56,206

Stormont Specialist Services Ltd - Accounts to registrar (filleted) - small 18.2

Stormont Specialist Services Ltd - Accounts to registrar (filleted) - small 18.2