Stimare Limited - Limited company - abbreviated - 11.0.0

Stimare Limited - Limited company - abbreviated - 11.0.0

STIMARE LTD - Company Information

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REGISTERED NUMBER: 07350491 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

for

Stimare Limited

Stimare Limited (Registered number: 07350491)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2013




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Stimare Limited

Company Information
for the Year Ended 31 December 2013







DIRECTORS: B Dunphy
V Smyth





REGISTERED OFFICE: 119 The Hub
300 Kensal Road
London
London
W10 5BE





REGISTERED NUMBER: 07350491 (England and Wales)





ACCOUNTANT: Hilton Consulting Limited
119 The Hub
300 Kensal Road
London
W10 5BE
Page 1
Stimare Limited (Registered number: 07350491)

Abbreviated Balance Sheet
31 December 2013

31.12.13 31.12.12
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 8,382 1,966

CURRENT ASSETS
Stocks 391,727 117,749
Debtors 111,369 239,205
Cash at bank 340,836 79,557
843,932 436,511
CREDITORS
Amounts falling due within one year 491,518 245,163
NET CURRENT ASSETS 352,414 191,348
TOTAL ASSETS LESS CURRENT
LIABILITIES
360,796
193,314

CREDITORS
Amounts falling due after more than one
year
338,896
258,983
NET ASSETS/(LIABILITIES) 21,900 (65,669 )

CAPITAL AND RESERVES
Called up share capital 3 10,000 10,000
Profit and loss account 11,900 (75,669 )
SHAREHOLDERS' FUNDS 21,900 (65,669 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 26 September 2014 and were signed on its behalf
by:




B Dunphy - Director



V Smyth - Director


The notes form part of these abbreviated accounts

Page 2
Stimare Limited (Registered number: 07350491)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2013

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared on a going concern basis as the company has been given the continued
financial support of its parent company. On this basis, the directors consider it appropriate to prepare the
financial statements on a going concern basis. The financial statements do not include any adjustments that
would result from a withdrawal of this financial support.

Accounting convention
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 net invoiced sales of goods, excluding value added tax.

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

Computer equipment - 33% on cost

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013 3,027
Additions 9,211
At 31 December 2013 12,238
DEPRECIATION
At 1 January 2013 1,061
Charge for year 2,795
At 31 December 2013 3,856
NET BOOK VALUE
At 31 December 2013 8,382
At 31 December 2012 1,966

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.13 31.12.12
value: £    £   
100 Ordinary £100 10,000 10,000

SHARE ISSUE

In September 2014 the issued share capital was increased by the issue of 40,000 shares of £1 each, increasing
the share capital to £50,000

Page 3 continued...
Stimare Limited (Registered number: 07350491)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2013

4. ULTIMATE PARENT COMPANY

Stimare Limited (incorporated in Ireland ) is regarded by the directors as being the company's ultimate parent
company.

5. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed its parent company, Stimare Limited (Ireland) an amount of
£338,896 (2013: £258,983). The maximum amount outstanding during the year was £338,896 (2013: £258,983).

In view of the growth of the company and the need to provide finance - the parent company, which provides
ongoing management services, has decided that for the year under review a full charge will not be made.
However, it reserves the right to reinstate any part of charges deferred when circumstance warrants it.

In order to provide financial support for the growth of the company. Stimare Limited (Ireland) has deferred part of
its intercompany trading account for 5 years.

Page 4