Stegeo Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08989404 (England and Wales)

STEGEO LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S.G. Routledge

REGISTERED OFFICE:

17 Richmond Road

North Chingford

London

E4 7BN

REGISTERED NUMBER:

08989404 (England and Wales)

ACCOUNTANTS:

Cobbin Floyd Ltd

t/as Findlay Wetherfield Scott & Co

Chartered Accountants

137, Station Road,

Chingford,

London

E4 6AG

FIXED ASSETS

Tangible assets

4

296,110

285,147

CURRENT ASSETS

Stocks

5

323,866

288,676

Debtors

6

236,573

-

Cash at bank

222,905

455,658

783,344

744,334

CREDITORS

Amounts falling due within one year

7

50,660

106,176

NET CURRENT ASSETS

732,684

638,158

TOTAL ASSETS LESS CURRENT LIABILITIES

1,028,794

923,305

PROVISIONS FOR LIABILITIES

24,391

22,308

NET ASSETS

1,004,403

900,997

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

111,585

102,675

Retained earnings

892,718

798,222

SHAREHOLDERS' FUNDS

1,004,403

900,997

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

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

The director acknowledges his 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th December 2021 and were signed by:

S.G. Routledge - Director

1.	STATUTORY INFORMATION

Stegeo 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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

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

Freehold property

-

not provided

Computer equipment

-

25% on reducing balance

Depreciation is calculated so as to allocate the cost of tangible assets, net of anticipated disposal proceeds, over their estimated useful economic lives. No depreciation is charged on freehold property. The residual values of the properties are regularly reviewed in order to identify any permanent diminution in value which would be charged to the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

equipment

Totals

£

£

£

Cost or valuation

At 1st April 2020

285,000

349

285,349

Revaluations

11,000

-

11,000

At 31st March 2021

296,000

349

296,349

Depreciation

At 1st April 2020

-

202

202

Charge for year

-

37

37

At 31st March 2021

-

239

239

Net book value

At 31st March 2021

296,000

110

296,110

At 31st March 2020

285,000

147

285,147

Cost or valuation at 31st March 2021 is represented by:

Freehold

Computer

property

equipment

Totals

£

£

£

Valuation in 2021

136,005

-

136,005

Cost

159,995

349

160,344

296,000

349

296,349

All properties held at the balance sheet date were revalued at that date and the amount stated is the cumulative effect of all revaluations. The effect of the current year's revaluations after provision for deferred tax is stated in the movement in the Fair Value Reserve within the Note on Reserves.

5.

STOCKS

2021

2020

£

£

Stocks

323,866

288,676

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

236,532

-

Prepayments

41

-

236,573

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

668

1,407

Corporation tax

22,173

32,680

Other creditors

609

-

Directors' current accounts

7,400

43,518

Accrued expenses

19,810

28,571

50,660

106,176

8.

RESERVES

Fair

value

reserve

£

At 1st April 2020

102,675

Revaluation in period

8,910

At 31st March 2021

111,585

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the sum owed to the director amounted to £7,400 (previous year - £43,518).

The company charged the director £60,000 relating to the administration of his property portfolio (previous year - £60,000)

The company rented various properties during the year from the director at their market rental value. The total paid by the company for the year was £422,936 (previous year - £577,005)

10.	RELATED PARTY DISCLOSURES

The controlling party is S.G. Routledge by virtue of his owning 100% of the issued ordinary share capital in the company.