Stemx Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10335355 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 18 AUGUST 2016 TO 30 SEPTEMBER 2017

FOR

STEMX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S G Chapman

G H Miller

D L Chapman

REGISTERED OFFICE:

Nea Cottage West

Somerley

Ringwood

Hampshire

BH24 3PL

REGISTERED NUMBER:

10335355 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

CURRENT ASSETS

Cash at bank

18,802

CREDITORS

Amounts falling due within one year

4

160,570

NET CURRENT LIABILITIES

(141,768

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(141,768

)

CAPITAL AND RESERVES

Called up share capital

5

1,000

Retained earnings

6

(142,768

)

SHAREHOLDERS' FUNDS

(141,768

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2017 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 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 18 May 2018 and were signed on its behalf by:

D L Chapman - Director

1.	STATUTORY INFORMATION

Stemx Ltd 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.

Taxation

Taxation for the period 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 period 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.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company

becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are

measured on initial recognition at transaction price. Debtors and creditors are subsequently

measured at amortised cost using the effective interest rate method. A provision is

established when there is objective evidence that the company not be able to collect all

amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash

in hand and at bank and bank overdrafts which are an integral part of the company's cash

management.

Financial liabilities and equity instruments issued by the company are classified in

accordance with the substance of the contractual arrangements entered into and the

definitions of a financial liability and an equity instrument. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic

financial instruments are initially recorded at the present value of cash payable to the bank,

usually being equivalent to the proceeds received net of direct issue costs. These liabilities

are subsequently measured at amortised cost, using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

160,570

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,000

Ordinary

£1

1,000

1,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the

period.

6.

RESERVES

Retained

earnings

£

Deficit for the period

(142,768

)

At 30 September 2017

(142,768

)

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY