Steeldeck Hall Stage Ltd
Unaudited Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 11199590 (England and Wales)
Steeldeck Hall Stage Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Steeldeck Hall Stage Ltd
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
280
Current assets
Stock
101,161
89,062
Debtors
4
59,890
70,855
Cash at bank and in hand
68
1,408
161,119
161,325
Creditors: amounts falling due within one year
5
(155,309)
(127,078)
Net current assets
5,810
34,247
Total assets less current liabilities
6,090
34,247
Creditors: amounts falling due after more than one year
6
(28,612)
(34,167)
Net (liabilities)/assets
(22,522)
80
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(22,622)
(20)
Total equity
(22,522)
80
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Steeldeck Hall Stage Ltd
Balance Sheet (Continued)
As at 31 December 2022
Page 2
The financial statements were approved by the board of directors and authorised for issue on 2 February 2024 and are signed on its behalf by:
P S L Parsons
Director
Company Registration No. 11199590
Steeldeck Hall Stage Ltd
Notes to the Financial Statements
For the year ended 31 December 2022
Page 3
1
Accounting policies
Company information
Steeldeck Hall Stage Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Brentmead House, Britannia Road, London, N12 9RU.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company made truea loss of £22,602 (2021: £5,109), and has net liabilities of £22,522 (2021: net assets of £80) at the balance sheet date. The director has confirmed that should it be needed he will provide the financial support required for a period of at least 12 months following the date of approval of these financial statements, and on that basis the accounts have been prepared on a going concern basis.
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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Computers
20% straight line
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.
1.5
Stock
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
Steeldeck Hall Stage Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 4
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.8
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.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
Steeldeck Hall Stage Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022
Additions
350
At 31 December 2022
350
Depreciation and impairment
At 1 January 2022
Depreciation charged in the year
70
At 31 December 2022
70
Carrying amount
At 31 December 2022
280
At 31 December 2021
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
10,385
63,879
Other debtors
49,505
6,976
59,890
70,855
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
10,120
10,000
Trade creditors
55,533
42,782
Taxation and social security
79,725
35,344
Other creditors
6,871
34,152
Accruals and deferred income
3,060
4,800
155,309
127,078
Steeldeck Hall Stage Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 6
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
28,612
34,167
The long term loan is unsecured with a loan term of 6 years commencing June 2020 and is repayable in instalments after the first 12 months.
7
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
Ordinary of £1 each
100
100
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
Within one year
173
Between two and five years
173
9
Related party transactions
Included debtors at the year end is £44,734 (2021: £27,366 in creditors) due from Steeldeck Industries Limited, a company related by virtue of common control.
Admin costs of £nil (2021: £90,110) have been recharged by Steeldeck Industries Limited during the year.
Included in creditors at the year end is £6,871 (2021: £6,786) due to Nivoflex Limited, a company related by virtue of common control.
Admin costs of £nil (2021: £1,214) have been recharged to Nivoflex Limited during the year. Also admin costs of £85 (2021: £nil) have been recharged from Nivoflex Limited during the year.
Included debtors at the year end is £4,671 (2021: £4,476) due from Steeldeck Enterprises Limited, a company related by virtue of common control.