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REGISTERED NUMBER: 10571279 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

UNDER THE STAIRS LIMITED

| UNDER THE STAIRS LIMITED (REGISTERED NUMBER: 10571279) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 January 2023

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| UNDER THE STAIRS LIMITED |

COMPANY INFORMATION

for the year ended 31 January 2023

| DIRECTORS: | V Bogdanic

| H Mitic

| N Dunn

| REGISTERED OFFICE: | Preston Park House

| South Road

| Brighton

| East Sussex

| BN1 6SB

| REGISTERED NUMBER: | 10571279 (England and Wales)

| ACCOUNTANTS: | Plus Accounting

| Chartered Accountants

| Preston Park House

| South Road

| Brighton

| East Sussex

| BN1 6SB

| UNDER THE STAIRS LIMITED (REGISTERED NUMBER: 10571279) |

BALANCE SHEET

31 January 2023

| 31.1.23 |  | 31.1.22

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 117,648 |  | 102,793 |  |

CURRENT ASSETS

Debtors | 5 | 27,596 |  | 973 |  |

Cash at bank | 79,124 |  | 51,057 |  |

106,720 |  | 52,030 |  |

CREDITORS

Amounts falling due within one year | 6 | (700 | ) | (674 | ) |

NET CURRENT ASSETS | 106,020 |  | 51,356 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 223,668 |  | 154,149 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 100 |  | 100 |  |

Share premium | 149,985 |  | 149,985 |  |

Retained earnings | 73,583 |  | 4,064 |  |

SHAREHOLDERS' FUNDS | 223,668 |  | 154,149 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 4 October 2023 and were signed on its behalf by:

V Bogdanic - Director

| UNDER THE STAIRS LIMITED (REGISTERED NUMBER: 10571279) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 January 2023

1. | STATUTORY INFORMATION

| Under The Stairs 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

| 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.

| Patents and licences are being amortised evenly over their estimated useful life of twenty years.

| Development costs are being amortised evenly over their estimated useful life of five years.

| Financial instruments

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| 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.

| Research and development

| In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recongnised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate future economic benefits and that its cost can be reliably measure.

| If it is not possible to distinguish between the research phase and development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

| UNDER THE STAIRS LIMITED (REGISTERED NUMBER: 10571279) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2023

2. | ACCOUNTING POLICIES - continued

| Impairment policy

| At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Going concern

| The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2022 - 3 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 February 2022 | 210,234 |  |

| Additions | 64,126 |  |

| At 31 January 2023 | 274,360 |  |

| AMORTISATION

| At 1 February 2022 | 107,441 |  |

| Charge for year | 49,271 |  |

| At 31 January 2023 | 156,712 |  |

| NET BOOK VALUE

| At 31 January 2023 | 117,648 |  |

| At 31 January 2022 | 102,793 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.23 |  | 31.1.22

£ | £ |

| Other debtors | 27,596 |  | 973 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.23 |  | 31.1.22

£ | £ |

| Other creditors | 700 |  | 674 |  |

| UNDER THE STAIRS LIMITED (REGISTERED NUMBER: 10571279) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2023

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.1.23 |  | 31.1.22

| value: | £ | £ |

| 8,500 | Ordinary | £0.01 | 85 |  | 85 |  |

| 1,500 | Ordinary A | £0.01 | 15 |  | 15 |  |

100 |  | 100 |  |