5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-23 Sage Accounts Production Advanced 2023 - FRS102_2023 3,152 3,152 578 578 2,574 13,710 13,710 2,957 2,957 10,753 xbrli:pure xbrli:shares iso4217:GBP 14684360 2023-02-23 2023-12-31 14684360 2023-12-31 14684360 2023-02-22 14684360 bus:Director2 2023-02-23 2023-12-31 14684360 bus:Director3 2023-02-23 2023-12-31 14684360 core:WithinOneYear 2023-12-31 14684360 core:ShareCapital 2023-12-31 14684360 core:SharePremium 2023-12-31 14684360 core:RetainedEarningsAccumulatedLosses 2023-12-31 14684360 bus:SmallEntities 2023-02-23 2023-12-31 14684360 bus:AuditExemptWithAccountantsReport 2023-02-23 2023-12-31 14684360 bus:SmallCompaniesRegimeForAccounts 2023-02-23 2023-12-31 14684360 bus:PrivateLimitedCompanyLtd 2023-02-23 2023-12-31 14684360 bus:FullAccounts 2023-02-23 2023-12-31 14684360 core:ComputerSoftware 2023-02-23 2023-12-31 14684360 core:OfficeEquipment 2023-02-23 2023-12-31 14684360 core:ComputerSoftware 2023-12-31 14684360 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 14684360
StackOne Technologies Limited
Filleted Unaudited Financial Statements
31 December 2023
StackOne Technologies Limited
Financial Statements
Period from 23 February 2023 to 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
StackOne Technologies Limited
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
Fixed assets
Intangible assets
5
2,574
Tangible assets
6
10,753
--------
13,327
Current assets
Debtors
7
10,180
Cash at bank and in hand
2,572,583
------------
2,582,763
Creditors: amounts falling due within one year
8
48,616
------------
Net current assets
2,534,147
------------
Total assets less current liabilities
2,547,474
------------
Net assets
2,547,474
------------
Capital and reserves
Called up share capital
535
Share premium account
3,240,790
Profit and loss account
( 693,851)
------------
Shareholders funds
2,547,474
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
StackOne Technologies Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr R J Sestier
Mr G Lebedel
Director
Director
Company registration number: 14684360
StackOne Technologies Limited
Notes to the Financial Statements
Period from 23 February 2023 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website domain
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 .
5. Intangible assets
Website domain
£
Cost
Additions
3,152
-------
At 31 December 2023
3,152
-------
Amortisation
Charge for the period
578
-------
At 31 December 2023
578
-------
Carrying amount
At 31 December 2023
2,574
-------
6. Tangible assets
Computer equipment
£
Cost
At 23 February 2023
Additions
13,710
--------
At 31 December 2023
13,710
--------
Depreciation
At 23 February 2023
Charge for the period
2,957
--------
At 31 December 2023
2,957
--------
Carrying amount
At 31 December 2023
10,753
--------
7. Debtors
31 Dec 23
£
Trade debtors
3,770
Other debtors
6,410
--------
10,180
--------
8. Creditors: amounts falling due within one year
31 Dec 23
£
Trade creditors
22,670
Social security and other taxes
18,989
Other creditors
6,957
--------
48,616
--------