REGISTERED NUMBER: SC211701 (Scotland)

Financial Statements

for the Year Ended 31 December 2017

for

Stream Technologies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Chadwick

K McDowall

REGISTERED OFFICE:

Suite 4a

Skypark 5

45 Finnieston Street

Glasgow

G3 8JU

REGISTERED NUMBER:

SC211701 (Scotland)

ACCOUNTANTS:

R.G. Beattie & Co Ltd

Chartered Certified Accountants

121 Moffat Street

Glasgow

G5 OND

FIXED ASSETS

Intangible assets

4

14,088

21,144

Tangible assets

5

149,976

112,584

164,064

133,728

CURRENT ASSETS

Stocks

29,921

73,510

Debtors

6

2,018,496

1,682,373

Cash at bank

211,976

232,367

2,260,393

1,988,250

CREDITORS

Amounts falling due within one year

7

1,314,176

1,339,864

NET CURRENT ASSETS

946,217

648,386

TOTAL ASSETS LESS CURRENT LIABILITIES

1,110,281

782,114

CREDITORS

Amounts falling due after more than one year

8

-

297

NET ASSETS

1,110,281

781,817

CAPITAL AND RESERVES

Called up share capital

57

57

Capital redemption reserve

(226,965

)

(226,965

)

Retained earnings

1,337,189

1,008,725

SHAREHOLDERS' FUNDS

1,110,281

781,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 May 2018 and were signed on its behalf by:

K McDowall - Director

N Chadwick - Director

1.	STATUTORY INFORMATION

Stream Technologies Limited is a private company, limited by shares , registered in Scotland. 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the

goods are physically delivered to the customer. Turnover from the supply of services represents the value of

services provided under contracts to the extent that there is a right to the considerations and is recorded at the

value of the considerations due. Where a contract has only been partially completed at the balance sheet date

turnover represents the value of the services provided to date based on a proportion of the total contract value.

Where payments are received from customers in advance of services provided, the amounts are recorded as

deferred income and included as part of creditors due within one year.

Intangible assets

Intangible assets are initially measured at cost.After initial recognition,intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated life.

Tangible fixed assets

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

Improvements to property

-

10% on reducing balance

Fixtures and fittings

-

25% on cost

Computer equipment

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2016 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2017

and 31 December 2017

119,000

AMORTISATION

At 1 January 2017

97,856

Amortisation for year

7,056

At 31 December 2017

104,912

NET BOOK VALUE

At 31 December 2017

14,088

At 31 December 2016

21,144

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2017

9,874

10,544

254,429

274,847

Additions

33,892

6,188

53,822

93,902

Disposals

(9,874

)

-

-

(9,874

)

At 31 December 2017

33,892

16,732

308,251

358,875

DEPRECIATION

At 1 January 2017

1,070

5,577

155,616

162,263

Charge for year

1,240

2,351

44,955

48,546

Eliminated on disposal

(1,910

)

-

-

(1,910

)

At 31 December 2017

400

7,928

200,571

208,899

NET BOOK VALUE

At 31 December 2017

33,492

8,804

107,680

149,976

At 31 December 2016

8,804

4,967

98,813

112,584

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

1,137,012

905,328

Other debtors

12,832

261,935

Stream Technologies LLC

37,029

35,949

Deferred tax

95,292

-

Accrued income

429,757

370,287

Directors Loan - K McDowall

7,506

7,506

Directors Loan - N.Chadwick

159,703

-

Prepayments

139,365

101,368

2,018,496

1,682,373

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

616,252

579,868

Stream GMBH

2,399

2,150

Clydesdale Bank Credit Card

6,873

1,770

Security deposits

1,000

1,031

Barclays Bank Credit Card

8,030

-

Social security and other taxes

48,814

30,137

Department of Work & Pensions

5,975

-

Deferred Income

6,492

-

VAT

284,554

274,840

Accrued expenses

333,787

450,068

1,314,176

1,339,864

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Directors Loan - N Chadwick

-

297

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017 and

31 December 2016:

31.12.17

31.12.16

£

£

K McDowall

Balance outstanding at start of year

7,506

7,506

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,506

7,506

N Chadwick

Balance outstanding at start of year

(297

)

(297

)

Amounts advanced

300,000

-

Amounts repaid

(140,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

159,703

(297

)

10.	RELATED PARTY DISCLOSURES

Mr N Chadwick, a director, is due to pay the company amount of £159,703 as at the balance sheet date.The loan

was repaid on 17th April 2018.

11.	ULTIMATE CONTROLLING PARTY

There was no overall controlling party during the year.