Staytite Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01373472 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

STAYTITE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D R Black

R Black

M R W Black

SECRETARY:

R Black

REGISTERED OFFICE:

Staytite House

Coronation Road

Cressex Industrial Estate

High Wycombe

Buckinghamshire

HP12 3RP

REGISTERED NUMBER:

01373472 (England and Wales)

AUDITORS:

Crane & Partners

Chartered Accountants & Statutory Auditors

Leonard House

5 - 7 Newman Road

Bromley

Kent

BR1 1RJ

FIXED ASSETS

Tangible assets

4

86,697

79,186

CURRENT ASSETS

Stocks

1,285,408

1,222,517

Debtors

5

1,488,724

1,332,927

Cash at bank and in hand

85,874

158,187

2,860,006

2,713,631

CREDITORS

Amounts falling due within one year

6

395,163

488,233

NET CURRENT ASSETS

2,464,843

2,225,398

TOTAL ASSETS LESS CURRENT LIABILITIES

2,551,540

2,304,584

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,551,538

2,304,582

SHAREHOLDERS' FUNDS

2,551,540

2,304,584

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 August 2018 and were signed on its behalf by:

A D R Black - Director

1.	STATUTORY INFORMATION

Staytite Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs and other post-retirement benefits

The company contributes to individual pension polices for the director. These are operated on a

defined contribution basis and the assets of the polices are held separately from those of the company.

The pension charge represents contributions payable to the funds for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 March 2017

82,492

261,436

113,062

456,990

Additions

14,683

39,664

-

54,347

At 28 February 2018

97,175

301,100

113,062

511,337

DEPRECIATION

At 1 March 2017

68,580

237,413

71,811

377,804

Charge for year

9,021

17,701

20,114

46,836

At 28 February 2018

77,601

255,114

91,925

424,640

NET BOOK VALUE

At 28 February 2018

19,574

45,986

21,137

86,697

At 28 February 2017

13,912

24,023

41,251

79,186

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,222,915

1,126,941

Amounts owed by group undertakings

239,939

188,648

Other debtors

25,870

17,338

1,488,724

1,332,927

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

246,205

262,357

Amounts owed to group undertakings

-

50,441

Taxation and social security

88,694

114,828

Other creditors

60,264

60,607

395,163

488,233

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Raymond McDonagh FCA (Senior Statutory Auditor)

for and on behalf of Crane & Partners

8.	RELATED PARTY DISCLOSURES

During the year the company made the following transactions with companies and pension funds

under common control. In the opinion of the directors such related party transactions took place at

arms length on a normal commercial basis.

Staytite (Holdings) Limited

Coronation Road Limited

Portafix Limited

£

£

£

Management charges payable

180,000

-

-

Rent payable

-

90,000

-

Commercial sales

-

-

132,007

Commercial purchases

-

-

2,935

Dividends payable

-

-

-

Balance due to Staytite Limited

119,798

120,140

-

Balance due from Staytite Limited

-

-

The company has a composite bank guarantee dated 9 September 2005 in favour of Staytite

(Holdings) Ltd and Coronation Road Ltd.

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the Black family.

10.	CONSOLIDATED ACCOUNTS

Staytite Limited is a subsidiary of Staytite (Holdings) Limited, who prepare consolidated accounts for all

members of the group.

The registered office of Staytite (Holdings) Limited is:

Staytite House

Coronation Road

Cressex Industrial Estate

High Wycombe

Buckinghamshire

HP12 3RP