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Company No: 11648965 (England and Wales)

STRATOSPHERE HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

STRATOSPHERE HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

STRATOSPHERE HOLDINGS LTD

COMPANY INFORMATION

For the financial year ended 31 October 2023
STRATOSPHERE HOLDINGS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR Mr J L Antoniou
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 11648965 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
STRATOSPHERE HOLDINGS LTD

BALANCE SHEET

As at 31 October 2023
STRATOSPHERE HOLDINGS LTD

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 450,100 100
450,100 100
Creditors: amounts falling due within one year 4 ( 656,988) ( 207,274)
Net current liabilities (656,988) (207,274)
Total assets less current liabilities (206,888) (207,174)
Net liabilities ( 206,888) ( 207,174)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 206,988 ) ( 207,274 )
Total shareholder's deficit ( 206,888) ( 207,174)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Stratosphere Holdings Ltd (registered number: 11648965) were approved and authorised for issue by the Director on 31 July 2024. They were signed on its behalf by:

Mr J L Antoniou
Director
STRATOSPHERE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
STRATOSPHERE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stratosphere Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover is stated net of VAT and is recognised as and when the service is delivered.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 100 100
Other investments and loans 450,000 0
450,100 100

Investments in subsidiaries

2023
£
Cost
At 01 November 2022 100
At 31 October 2023 100
Carrying value at 31 October 2023 100
Carrying value at 31 October 2022 100

Other investments Total
£ £
Cost or valuation before impairment
At 01 November 2022 0 0
Additions 450,000 450,000
At 31 October 2023 450,000 450,000
Carrying value at 31 October 2023 450,000 450,000
Carrying value at 31 October 2022 0 0

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 204,933 204,933
Accruals 780 780
Other creditors 451,275 1,561
656,988 207,274

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Other related party transactions

On 23 November 2022, Stratosphere Holdings Ltd paid £450,000 to acquire 10.2% of the total share capital of Stor Power Ltd, a company related by way of its director, Mr J L Antoniou.