StructureIt Services Limited - Period Ending 2014-06-30

Registration number: 06934270

StructureIt Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2014
 

Wisteria Limited
Camrose House
2A Camrose Avenue
Edgware
Middlesex
HA8 6EG

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 Camrose House 2A Camrose Avenue Edgware Middlesex HA8 6EG

Accountants

Wisteria Limited Camrose House 2A Camrose Avenue Edgware Middlesex HA8 6EG

Page 1

StructureIt Services Limited
Directors' Report for the Year Ended 30 June 2014

The directors present their report and the unaudited financial statements for the year ended 30 June 2014.

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.

Dividends

The directors recommend a final dividend payment of £52,000 be made in respect of the financial year ended 30 June 2014 .

Small company provisions

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

Statement of director's 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 1 November 2014 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 2014

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 2014 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. 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
Camrose House
2A Camrose Avenue
Edgware
Middlesex
HA8 6EG

18 November 2014

Page 3

StructureIt Services Limited
Profit and Loss Account for the Year Ended 30 June 2014

		Note			2014 £			2013 £
Turnover					644,274			1,018,253
Cost of sales					(562,787)			(963,813)
Gross profit					81,487			54,440
Administrative expenses					(13,421)			(8,175)
Operating profit					68,066			46,265
Interest payable and similar charges					(35)			-
Profit on ordinary activities before taxation					68,031			46,265
Tax on profit on ordinary activities		3			(13,857)			(9,253)
Profit for the financial year		8			54,174			37,012

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 2014

		Note			2014 £			2013 £
Current assets
Debtors		4			34,678			86,938
Cash at bank and in hand					8,811			28,767
					43,489			115,705
Creditors: Amounts falling due within one year		5			(37,762)			(112,152)
Net assets					5,727			3,553
Capital and reserves
Called up share capital		6			100			100
Profit and loss account		8			5,627			3,453
Shareholders' funds					5,727			3,553

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 2014 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 1 November 2014 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 2014
......... 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).

Going concern

The financial statements have been prepared on a going concern basis.

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

2	Directors' remuneration

The directors' remuneration for the year was £nil (2013: £nil).

3

Taxation

Tax on profit on ordinary activities

		2014 £			2013 £
Current tax
Corporation tax charge		13,857			9,253

4

Debtors

		2014 £			2013 £
Amounts owed by parent company (see note 9)		34,353			86,938
Other debtors		325			-
		34,678			86,938

Page 6

StructureIt Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2014
......... continued

5	Creditors: Amounts falling due within one year

		2014 £			2013 £
Trade creditors		1,110			1,804
Corporation tax		13,892			9,253
Other taxes and social security		5,299			24,862
Other creditors		17,461			76,233
		37,762			112,152

6	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

7

Dividends

		2014 £			2013 £
Dividends paid
Prior year final dividend paid		-			4,000
Dividends proposed and recognised in the accounts
Ordinary dividend proposed		52,000			30,000
		(52,000)			(34,000)

8

Reserves

		Profit and loss account £			Total £
At 1 July 2013		3,453			3,453
Profit for the year		54,174			54,174
Dividends		(52,000)			(52,000)
At 30 June 2014		5,627			5,627

Page 7

StructureIt Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2014
......... continued

9	Related party transactions

During the year, StructureIT Services Limited invoiced £644,274 (2013: £1,018,253) for administrative staff to its parent company StructureIT Limited. At the balance sheet date, StructureIT Limited, the parent company owed the company £34,353 (2013: £86,938).

10

Control

The company is controlled by StructureIT Limited 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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