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Registration number: 04037663

The Stress Exchange Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2022

 

The Stress Exchange Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

The Stress Exchange Limited

Company Information

Director

Mr Ian Egerton

Registered office

C/O Blackborn Ltd
7 Brook Business Centre
Cowley Mill Road
Uxbridge
UB8 2FX

Accountants

Blackborn Limited
7 Brook Business Centre
Cowley Mill Road
Uxbridge
UB8 2FX

 

The Stress Exchange Limited

(Registration number: 04037663)
Abridged Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

99,750

109,301

Current assets

 

Stocks

5

25,678

32,156

Debtors

25,396

19,750

Cash at bank and in hand

 

2,316

16,476

 

53,390

68,382

Prepayments and accrued income

 

29,669

26,389

Creditors: Amounts falling due within one year

(152,437)

(204,194)

Net current liabilities

 

(69,378)

(109,423)

Total assets less current liabilities

 

30,372

(122)

Creditors: Amounts falling due after more than one year

(34,841)

(44,487)

Accruals and deferred income

 

(1,440)

(1,440)

Net liabilities

 

(5,909)

(46,049)

Capital and reserves

 

Called up share capital

6

150,100

150,100

Retained earnings

(156,009)

(196,149)

Shareholders' deficit

 

(5,909)

(46,049)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2023
 

 

The Stress Exchange Limited

(Registration number: 04037663)
Abridged Balance Sheet as at 31 December 2022

.........................................
Mr Ian Egerton
Director

 

The Stress Exchange Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Blackborn Ltd
7 Brook Business Centre
Cowley Mill Road
Uxbridge
UB8 2FX
England

These financial statements were authorised for issue by the director on 30 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The Stress Exchange Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

6.6% on cost

Fixtures and fittings

6.6% on reducing balance

Salon equipment

24% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving
stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Stress Exchange Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2021 - 14).

 

The Stress Exchange Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

12,066

238,729

250,795

Additions

-

116

116

At 31 December 2022

12,066

238,845

250,911

Depreciation

At 1 January 2022

8,048

133,446

141,494

Charge for the year

805

8,862

9,667

At 31 December 2022

8,853

142,308

151,161

Carrying amount

At 31 December 2022

3,213

96,537

99,750

At 31 December 2021

4,018

105,283

109,301

Included within the net book value of land and buildings above is £3,213 (2021 - £4,018) in respect of short leasehold land and buildings.
 

5

Stocks

2022
£

2021
£

Finished goods and goods for resale

25,678

32,156

 

The Stress Exchange Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

150,000

150,000

150,000

150,000

 

150,100

150,100

150,100

150,100