Company Registration No. SC181667 (Scotland)
Northern Light Stage and Technical Services Limited
Financial statements
for the year ended 31 July 2023
Pages for filing with the registrar
Northern Light Stage and Technical Services Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
Northern Light Stage and Technical Services Limited
Statement of financial position
As at 31 July 2023
1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
1,209,073
673,181
Cash at bank and in hand
203,868
492,335
1,412,941
1,165,516
Creditors: amounts falling due within one year
6
(128,017)
(177,931)
Net current assets
1,284,924
987,585
Creditors: amounts falling due after more than one year
7
(395,000)
(395,000)
Net assets
889,924
592,585
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
889,923
592,584
Total equity
889,924
592,585

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
Andrew  Preece
Director
Company Registration No. SC181667
Northern Light Stage and Technical Services Limited
Notes to the financial statements
For the year ended 31 July 2023
2
1
Accounting policies
Company information

Northern Light Stage and Technical Services Limited is a private company limited by shares incorporated in Scotland. The registered office is 4th Floor, 115 George Street, Edinburgh, EH2 4JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. Beyond the small companies regime the company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Stage Electrics Group Limited. These consolidated financial statements are available from its registered office, Encore House, Unit 3 Britannia Road, Patchway Trading Estate, Patchway, Bristol, BS34 5TA.

1.2
Going concern

At the time of approving the financial statements, the Directors are confident that the Group has adequate resources to continue in operational existence for the foreseeable future.

The Company has a strong cash position and continues to deliver good profits and generate cash.  The Directors have prepared prudent cash flow forecasts for the next 12 months, which show that the Company’s cash position is expected to remain healthy during that period.  Therefore, the Directors continue to adopt the Going Concern basis of accounting in preparing these financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is taken on fixed price contracts while the contract is in progress, having regard to the proportion of the total contract which has been completed at the statement of financial position date, estimated by reference to the costs incurred to date versus the total estimated costs to completion. Provision is made for all foreseeable losses.

Northern Light Stage and Technical Services Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
1
Accounting policies (continued)
3

Amounts recoverable on contracts represent turnover recognised, primarily on fixed price contracts, which has not yet been invoiced to clients net of any provision for unrecoverable amounts. Such amounts are disclosed within other debtors.

 

Conversely, amounts due on contracts represent amounts invoiced before work carried out. Such amounts are disclosed within other creditors.

1.4
Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Cost is calculated as purchase price plus any directly attributable incidental costs of acquisition.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Northern Light Stage and Technical Services Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
1
Accounting policies (continued)
4
Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 0).

 

Northern Light Stage and Technical Services Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
5
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 August 2022 and 31 July 2023
44,558
Depreciation and impairment
At 1 August 2022 and 31 July 2023
44,558
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
-
0
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
56,768
59,506
Amounts owed by group undertakings
1,004,209
437,370
Other debtors
148,096
176,305
1,209,073
673,181

Amounts due from group undertakings are all due in greater than one year. This is consistent with the comparative period.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,964
3,127
Taxation and social security
46,135
29,798
Other creditors
76,918
145,006
128,017
177,931
Northern Light Stage and Technical Services Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
6
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
395,000
395,000

Amounts owed to group undertakings is a loan from the immediate parent company. The loan is non-interest bearing.

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1

The ordinary shares rank equally for voting purposes, dividends declared and in respect of distributions made on a winding up.

Northern Light Stage and Technical Services Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
7
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Neil Davies.
The auditor was Saffery LLP.
10
Parent company

The company is a subsidiary undertaking of Performance Arts Technology Limited which is the immediate parent company. The ultimate parent company and controlling party is Stage Electrics Group Limited, by virtue of its shareholding.

 

The largest and smallest group in which the results of the company are consolidated is that headed by Stage Electrics Group Limited. No other group financial statements include the results of the company. The consolidated financial statements of this group are available to the public and may be obtained form Encore House, Unit 3 Britannia Road, Patchway, Bristol, BS34 5TA.

 

2023-07-312022-08-01false31 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedTrevor SmallwoodJohn LaycockAdam BlaxillDavid CoullAndrew PreeceWilliam RogersAnna WesternDaniel AldridgeQuayseco LimitedfalseSC1816670SC1816672022-08-012023-07-31SC1816672023-07-31SC1816672022-07-31SC181667core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-31SC181667core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-31SC181667core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-31SC181667core:Non-currentFinancialInstrumentscore:AfterOneYear2022-07-31SC181667core:CurrentFinancialInstruments2023-07-31SC181667core:CurrentFinancialInstruments2022-07-31SC181667core:ShareCapital2023-07-31SC181667core:ShareCapital2022-07-31SC181667core:RetainedEarningsAccumulatedLosses2023-07-31SC181667core:RetainedEarningsAccumulatedLosses2022-07-31SC181667bus:Director52022-08-012023-07-31SC181667core:FurnitureFittings2022-08-012023-07-31SC181667core:FurnitureFittings2022-07-31SC181667core:FurnitureFittings2023-07-31SC181667core:FurnitureFittings2022-07-31SC181667core:WithinOneYear2023-07-31SC181667core:WithinOneYear2022-07-31SC181667core:Non-currentFinancialInstruments2023-07-31SC181667core:Non-currentFinancialInstruments2022-07-31SC181667bus:PrivateLimitedCompanyLtd2022-08-012023-07-31SC181667bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-31SC181667bus:FRS1022022-08-012023-07-31SC181667bus:Audited2022-08-012023-07-31SC181667bus:Director12022-08-012023-07-31SC181667bus:Director22022-08-012023-07-31SC181667bus:Director32022-08-012023-07-31SC181667bus:Director42022-08-012023-07-31SC181667bus:Director62022-08-012023-07-31SC181667bus:Director72022-08-012023-07-31SC181667bus:Director82022-08-012023-07-31SC181667bus:CompanySecretary12022-08-012023-07-31SC181667bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP