Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-303truefalseNo description of principal activity2022-12-013trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12299934 2022-12-01 2023-11-30 12299934 2021-12-01 2022-11-30 12299934 2023-11-30 12299934 2022-11-30 12299934 c:Director1 2022-12-01 2023-11-30 12299934 d:CurrentFinancialInstruments 2023-11-30 12299934 d:CurrentFinancialInstruments 2022-11-30 12299934 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 12299934 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 12299934 d:ShareCapital 2023-11-30 12299934 d:ShareCapital 2022-11-30 12299934 d:RetainedEarningsAccumulatedLosses 2023-11-30 12299934 d:RetainedEarningsAccumulatedLosses 2022-11-30 12299934 c:OrdinaryShareClass1 2022-12-01 2023-11-30 12299934 c:OrdinaryShareClass1 2023-11-30 12299934 c:OrdinaryShareClass1 2022-11-30 12299934 c:FRS102 2022-12-01 2023-11-30 12299934 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 12299934 c:FullAccounts 2022-12-01 2023-11-30 12299934 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 12299934 2 2022-12-01 2023-11-30 12299934 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 12299934












STAYSER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


 
REGISTERED NUMBER:12299934
STAYSER LIMITED

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
2,144
4,221

Creditors: amounts falling due within one year
 4 
(455,617)
(320,689)

Net current liabilities
  
 
 
(453,473)
 
 
(316,468)

  

Net liabilities
  
(453,473)
(316,468)


Capital and reserves
  

Called up share capital 
 5 
1
1

Profit and loss account
  
(453,474)
(316,469)

Total deficit
  
(453,473)
(316,468)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the sole director. 




R Gupta
Director

Date: 21 February 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 

STAYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Stayser Ltd is a private company limited by shares and registered in England and Wales. The company's registered office is 16 Great Queen Street, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the net liabilities exceeded the net assets of the company by £453,473.. The financial statements have been prepared on a going concern basis as the director is satisfied that the company has the support of its shareholder and so that the company will continue to trade for the foreseable future.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 2

 

STAYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

  
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income

  
2.8

Share Capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


2.9

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

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 company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including cash and bank balances and working capital balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 3

 

STAYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees including the director, during the year was 3 (2022 - 4)

Page 4

 

STAYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
1,653
3,469

Other creditors
449,760
313,520

Accruals and deferred income
4,204
3,700

455,617
320,689



5.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 -1) Ordinary share of £1.00
1
1



6.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,879 (2022 - £2,983). Contributions totalling £367 (2022 - £538) were payable to the fund at the balance sheet date and are included in creditors.


7.


Related party transactions

At the balance sheet date the company owed to the director and shareholder £449,391 (2022 - £312,981). The loan is unsecured, interest free and repayable on demand.

 
Page 5