Company No:
Contents
Note | 29.02.2024 | 28.02.2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 4 |
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27,629 | 11,260 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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10,669 | 0 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets/(liabilities) | 4,094 | (2,001) | ||
Total assets less current liabilities | 31,723 | 9,259 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Share premium account |
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Other reserves |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Stage Limited (registered number:
D F Imrie
Director |
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.
Stage 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.
Fair value is measured by use of the Black Scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
Options are forfeited if the employee leaves the Company before the options vest.
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 as described below.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other creditors.
Financial assets
Basic financial assets, including trade and other debtors, 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.
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.
Year ended 29.02.2024 |
Period from 01.06.2022 to 28.02.2023 |
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Number | Number | ||
Monthly average number of persons employed by the company during the year, including directors |
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Equity-settled share-based payment schemes
Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. The vesting period is four years. Options are forfeited if the employee leaves the Company before the options vest.
Details of the share options outstanding during the financial year are as follows:
29.02.2024 | 28.02.2023 | ||||
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Weighted Average | Weighted Average | ||||
Number of share options | Average exercise price (£) | Number of share options | Average exercise price (£) | ||
Outstanding at beginning of period |
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Granted during the period |
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Forfeited during the period | (
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Exercised during the period | (
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Outstanding at the end of the period |
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Exercisable at the end of the period |
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The Company recognised a Capital Contribution of £16,367 (2023: £11,060) in 2024.
Investments in subsidiaries
29.02.2024 | |
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Cost | |
At 01 March 2023 |
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Additions |
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At 29 February 2024 |
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Carrying value at 29 February 2024 |
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Carrying value at 28 February 2023 |
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29.02.2024 | 28.02.2023 | ||
£ | £ | ||
Amounts owed by group undertakings |
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Prepayments |
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VAT recoverable |
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29.02.2024 | 28.02.2023 | ||
£ | £ | ||
Cash at bank and in hand |
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29.02.2024 | 28.02.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to directors |
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Accruals |
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29.02.2024 | 28.02.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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501.43 | 500.00 |
There is no one single ultimate controlling party.