StructureIt Services Limited - Period Ending 2015-06-30

Registration number: 06934270

StructureIt Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2015
 

Wisteria Limited
The Grange Barn
Pikes End
Pinner
London
HA5 2EX

StructureIt Services Limited
Contents

Company Information 1

Directors' Report 2

Statement of Directors' Responsibilities 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

StructureIt Services Limited
Company Information

Directors

Mr L Watson Mr T Liddle

Company secretary

Wisteria Registrars Limited

Registered office

Wisteria Grange Barn Pikes End Pinner London HA5 2EX

Accountants

Wisteria Limited The Grange Barn Pikes End Pinner London HA5 2EX

Page 1

StructureIt Services Limited
Directors' Report for the Year Ended 30 June 2015

The directors present their report and the unaudited financial statements for the year ended 30 June 2015.

Directors of the company

The directors who held office during the year were as follows:

Mr L Watson

Mr T Liddle

Principal activity

The principal activity of the company is consultancy and staff solutions.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;
•	make judgements and accounting estimates that are reasonable and prudent; and
•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board on 19 January 2016 and signed on its behalf by:

.........................................
Mr T Liddle
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
StructureIt Services Limited
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of StructureIt Services Limited for the year ended 30 June 2015 set out on pages 4 to 8 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of StructureIt Services Limited, as a body, in accordance with the terms of our engagement letter dated 1 October 2014. Our work has been undertaken solely to prepare for your approval the accounts of StructureIt Services Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than StructureIt Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that StructureIt Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of StructureIt Services Limited. You consider that StructureIt Services Limited 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 accounts of StructureIt Services Limited. 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 accounts.

......................................

Wisteria Limited
The Grange Barn
Pikes End
Pinner
London
HA5 2EX

21 January 2016

Page 3

StructureIt Services Limited
Profit and Loss Account for the Year Ended 30 June 2015

		Note			2015 £			2014 £
Turnover					201,176			644,274
Cost of sales					(173,392)			(562,787)
Gross profit					27,784			81,487
Administrative expenses					(7,392)			(13,421)
Operating profit					20,392			68,066
Interest payable and similar charges					-			(35)
Profit on ordinary activities before taxation					20,392			68,031
Tax on profit on ordinary activities		2			(4,044)			(13,857)
Profit for the financial year		7			16,348			54,174

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

StructureIt Services Limited
(Registration number: 06934270)
Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Current assets
Debtors		3			28,252			34,678
Cash at bank and in hand					5,674			8,811
					33,926			43,489
Creditors: Amounts falling due within one year		4			(11,851)			(37,762)
Net assets					22,075			5,727
Capital and reserves
Called up share capital		5			100			100
Profit and loss account		7			21,975			5,627
Shareholders' funds					22,075			5,727

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the Board on 19 January 2016 and signed on its behalf by:

.........................................
Mr T Liddle
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

StructureIt Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Deferred tax

Where material, full provision is made for deferred tax asset and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences an be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

2

Taxation

Tax on profit on ordinary activities

		2015 £			2014 £
Current tax
Corporation tax charge		4,078			13,857
Adjustments in respect of previous years		(34)			-
UK Corporation tax		4,044			13,857

3

Debtors

		2015 £			2014 £
Amounts owed by group undertakings		27,278			34,353
Other debtors		974			325
		28,252			34,678

Page 6

StructureIt Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2015
......... continued

4	Creditors: Amounts falling due within one year

		2015 £			2014 £
Trade creditors		750			1,110
Corporation tax		4,079			13,892
Other taxes and social security		-			5,299
Other creditors		7,022			17,461
		11,851			37,762

5	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

6

Dividends

		2015 £			2014 £
Dividends paid
Current year interim dividend paid		-			52,000

7

Reserves

		Profit and loss account £			Total £
At 1 July 2014		5,627			5,627
Profit for the year		16,348			16,348
At 30 June 2015		21,975			21,975

8	Related party transactions

At the balance sheet date the company was owed £27,278 (2014: £34,353) by its parent company StructureIT Limited. During the year the company invoiced StructureIT Limited £201,176 (2014: £644,274) for services performed.

Page 7

StructureIt Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2015
......... continued

9

Control

The company is controlled by StructureIT Limited, a company incorporated in the United Kingdom, which owns 100% of the issued share capital. T Liddle and L Watson, directors of the company, are also directors and shareholders of StructureIT Limited


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Page 8