Silverfin false false 29/02/2024 01/03/2023 29/02/2024 P Sant 15/05/2017 D F Imrie 15/05/2017 N Hart 12/12/2017 M P Sullivan 12/12/2017 M J Tighe 12/06/2018 01 August 2024 The principal activity of the company is that of business and domestic software development. 10769938 2024-02-29 10769938 bus:Director1 2024-02-29 10769938 bus:Director2 2024-02-29 10769938 bus:Director3 2024-02-29 10769938 bus:Director4 2024-02-29 10769938 bus:Director5 2024-02-29 10769938 2023-02-28 10769938 core:CurrentFinancialInstruments 2024-02-29 10769938 core:CurrentFinancialInstruments 2023-02-28 10769938 core:Non-currentFinancialInstruments 2024-02-29 10769938 core:Non-currentFinancialInstruments 2023-02-28 10769938 core:ShareCapital 2024-02-29 10769938 core:ShareCapital 2023-02-28 10769938 core:RetainedEarningsAccumulatedLosses 2024-02-29 10769938 core:RetainedEarningsAccumulatedLosses 2023-02-28 10769938 core:ComputerEquipment 2023-02-28 10769938 core:ComputerEquipment 2024-02-29 10769938 core:CurrentFinancialInstruments 1 2024-02-29 10769938 core:CurrentFinancialInstruments 1 2023-02-28 10769938 2022-05-31 10769938 core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 10769938 core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 10769938 core:OtherDeferredTax 2024-02-29 10769938 core:OtherDeferredTax 2023-02-28 10769938 bus:OrdinaryShareClass1 2024-02-29 10769938 2023-03-01 2024-02-29 10769938 bus:FilletedAccounts 2023-03-01 2024-02-29 10769938 bus:SmallEntities 2023-03-01 2024-02-29 10769938 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10769938 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10769938 bus:Director1 2023-03-01 2024-02-29 10769938 bus:Director2 2023-03-01 2024-02-29 10769938 bus:Director3 2023-03-01 2024-02-29 10769938 bus:Director4 2023-03-01 2024-02-29 10769938 bus:Director5 2023-03-01 2024-02-29 10769938 core:ComputerEquipment core:TopRangeValue 2023-03-01 2024-02-29 10769938 2022-06-01 2023-02-28 10769938 core:ComputerEquipment 2023-03-01 2024-02-29 10769938 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10769938 bus:OrdinaryShareClass1 2022-06-01 2023-02-28 10769938 1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10769938 (England and Wales)

STAGE ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

STAGE ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

STAGE ENTERPRISES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
STAGE ENTERPRISES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Tangible assets 3 22,915 32,112
22,915 32,112
Current assets
Debtors 4 3,597,940 2,650,855
Cash at bank and in hand 900,275 727,056
4,498,215 3,377,911
Creditors: amounts falling due within one year 5 ( 2,027,670) ( 1,131,418)
Net current assets 2,470,545 2,246,493
Total assets less current liabilities 2,493,460 2,278,605
Creditors: amounts falling due after more than one year 6 ( 78,020) ( 142,803)
Net assets 2,415,440 2,135,802
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 2,415,240 2,135,602
Total shareholder's funds 2,415,440 2,135,802

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Stage Enterprises Limited (registered number: 10769938) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D F Imrie
Director

01 August 2024

STAGE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
STAGE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
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 period, unless otherwise stated.

General information and basis of accounting

Stage Enterprises Limited (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 35 Ballards Lane, London, N3 1XW, 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 £.

Foreign currency

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of thetransaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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 recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

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

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

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

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

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) 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
Basic financial liabilities, including trade and other creditors and accruals, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
29.02.2024
9 month period
to 28.02.2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 25 24

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 March 2023 75,892 75,892
Additions 5,298 5,298
Disposals ( 33,632) ( 33,632)
At 29 February 2024 47,558 47,558
Accumulated depreciation
At 01 March 2023 43,780 43,780
Charge for the financial year 8,703 8,703
Disposals ( 27,840) ( 27,840)
At 29 February 2024 24,643 24,643
Net book value
At 29 February 2024 22,915 22,915
At 28 February 2023 32,112 32,112

4. Debtors

29.02.2024 28.02.2023
£ £
Trade debtors 499,433 767,912
Amounts owed by group undertakings 0 1,001
Amounts owed by directors 1,524 833
Prepayments and accrued income 1,202,153 12,153
Deferred tax asset 0 6,281
VAT recoverable 0 37,470
Corporation tax 343,470 610,716
Other debtors 1,551,360 1,214,489
3,597,940 2,650,855

5. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Trade creditors 1,508,705 736,859
Amounts owed to group undertakings 5,654 0
Amounts owed to directors 10,853 10,816
Other loans 64,783 58,527
Accruals 275,114 240,658
Deferred tax liability 3,826 0
Other taxation and social security 143,515 71,639
Other creditors 15,220 12,919
2,027,670 1,131,418

6. Creditors: amounts falling due after more than one year

29.02.2024 28.02.2023
£ £
Other creditors 78,020 142,803

7. Deferred tax

29.02.2024 28.02.2023
£ £
At the beginning of financial year/period 6,281 6,281
Charged to the Statement of Income and Retained Earnings ( 10,107) 0
At the end of financial year/period ( 3,826) 6,281

The deferred taxation balance is made up as follows:

29.02.2024 28.02.2023
£ £
Accelerated capital allowances ( 5,730) 6,281
Other timing differences 1,904 0
( 3,826) 6,281

8. Called-up share capital

29.02.2024 28.02.2023
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

29.02.2024 28.02.2023
£ £
within one year 28,688 25,500

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

29.02.2024 28.02.2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 15,220 12,919

10. Related party transactions

Transactions with the entity's directors

29.02.2024 28.02.2023
£ £
Amounts owed from directors 1,524 833
Amounts owed to directors 10,853 10,816

The amounts receivable loan balance is unsecured and repayable on demand. Interest is charged at the official rates of interest.

Other related party transactions

29.02.2024 28.02.2023
£ £
Included in other debtors are amounts owed by companies under common control 1,519,289 1,183,719
Included in other creditors an amount owed to the parent company 5,654 0

11. Loans

Amounts falling due within one year

29.02.2024 28.02.2023
£ £
Other loan 64,783 58,527

Amounts falling due after one year

29.02.2024 28.02.2023
£ £
Other loan 78,020 142,803

12. Ultimate controlling party

The company's parent company is Stage Limited, a company incorporated in England and Wales and having its registered office at 35 Ballards Lane, London N3 1XW.

There is no single ultimate controlling party.