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Registration number: 11679201

IStay Here Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

IStay Here Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

IStay Here Ltd

Company Information

Director

Mrs Maria Elizabeth Verdoes

Registered office

114 Grimston Road
South Wootton
King's Lynn
PE30 3NS

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

IStay Here Ltd

(Registration number: 11679201)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,079

404

Current assets

 

Debtors

6

231

100

Cash at bank and in hand

 

954

6,894

 

1,185

6,994

Creditors: Amounts falling due within one year

7

(23,515)

(18,713)

Net current liabilities

 

(22,330)

(11,719)

Net liabilities

 

(21,251)

(11,315)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(21,253)

(11,317)

Shareholders' deficit

 

(21,251)

(11,315)

For the financial year ending 30 November 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 August 2024
 

.........................................
Mrs Maria Elizabeth Verdoes
Director

 

IStay Here Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 Grimston Road
South Wootton
King's Lynn
PE30 3NS

These financial statements were authorised for issue by the director on 21 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture & Fittings

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

IStay Here Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

404

135

 

IStay Here Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

539

539

Additions

1,079

1,079

At 30 November 2023

1,618

1,618

Depreciation

At 1 December 2022

135

135

Charge for the year

404

404

At 30 November 2023

539

539

Carrying amount

At 30 November 2023

1,079

1,079

At 30 November 2022

404

404

6

Debtors

Current

2023
£

2022
£

Prepayments

231

100

 

231

100

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

43

-

Accruals and deferred income

550

550

Other creditors

22,922

18,163

23,515

18,713