Sit-Stand Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08994572 (England and Wales)

Sit-Stand Trading Limited

Unaudited Financial Statements

for the Year Ended 30 April 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G G L Bradley

REGISTERED OFFICE:

Unit 2 Garden Court

Gee Road

Coalville

Leicestershire

LE67 4NB

REGISTERED NUMBER:

08994572 (England and Wales)

ACCOUNTANTS:

AMS Accountancy Limited

Delta 606

Welton Road

Delta Office Park

Swindon

Wiltshire

SN5 7XF

FIXED ASSETS

Tangible assets

4

17,841

7,461

CURRENT ASSETS

Stocks

5

578,817

296,894

Debtors

6

728,354

271,602

Cash at bank

168,401

121,587

1,475,572

690,083

CREDITORS

Amounts falling due within one year

7

(993,555

)

(594,290

)

NET CURRENT ASSETS

482,017

95,793

TOTAL ASSETS LESS CURRENT LIABILITIES

499,858

103,254

CREDITORS

Amounts falling due after more than one year

8

(313,094

)

-

NET ASSETS

186,764

103,254

CAPITAL AND RESERVES

Called up share capital

11

1

25,001

Capital redemption reserve

12

25,000

-

Retained earnings

12

161,763

78,253

SHAREHOLDERS' FUNDS

186,764

103,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2022 and were signed by:

Mr G G L Bradley - Director

1.	STATUTORY INFORMATION

Sit-Stand Trading 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 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.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% 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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2020

2,919

2,282

15,401

20,602

Additions

-

13,130

4,444

17,574

At 30 April 2021

2,919

15,412

19,845

38,176

DEPRECIATION

At 1 May 2020

2,569

955

9,617

13,141

Charge for year

350

2,098

4,746

7,194

At 30 April 2021

2,919

3,053

14,363

20,335

NET BOOK VALUE

At 30 April 2021

-

12,359

5,482

17,841

At 30 April 2020

350

1,327

5,784

7,461

5.

STOCKS

2021

2020

as restated

£

£

Stocks

578,817

296,894

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Other debtors

728,354

271,602

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Bank loans and overdrafts (see note 9)

40,606

4,752

Trade creditors

371,091

233,488

Taxation and social security

232,179

47,137

Other creditors

349,679

308,913

993,555

594,290

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

as restated

£

£

Bank loans (see note 9)

309,394

-

Other creditors

3,700

-

313,094

-

9.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

as restated

£

£

Amounts falling due within one year or on demand:

Bank loans

40,606

4,752

Other loans

50,400

-

91,006

4,752

Amounts falling due between one and two years:

Bank loans - 1-2 years

76,581

-

Other loans - 1-2 years

3,700

-

80,281

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

232,813

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

as restated

£

£

Within one year

35,000

-

Between one and five years

135,004

-

170,004

-

11.	CALLED UP SHARE CAPITAL

During the year 2,500,000 Ordinary £0.01 shares were cancelled.

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 May 2020

78,253

-

78,253

Profit for the year

148,510

148,510

Dividends

(40,000

)

(40,000

)

Purchase of own shares

(25,000

)

25,000

-

At 30 April 2021

161,763

25,000

186,763

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G G L Bradley.

With effect from 30th April 2021, Sit-Sit Stand World Limited holds 100% of the Ordinary shares of Sit-Stand Trading Limited. Gavin Bradley holds 100% of the Ordinary shares of Sit-Stand World Limited.