Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.332023-02-01falseHolding companytruetrue 07344595 2023-02-01 2024-01-31 07344595 2022-02-01 2023-01-31 07344595 2024-01-31 07344595 2023-01-31 07344595 c:Director2 2023-02-01 2024-01-31 07344595 c:Director3 2023-02-01 2024-01-31 07344595 d:CurrentFinancialInstruments 2024-01-31 07344595 d:CurrentFinancialInstruments 2023-01-31 07344595 d:ShareCapital 2024-01-31 07344595 d:ShareCapital 2023-01-31 07344595 d:SharePremium 2023-02-01 2024-01-31 07344595 d:SharePremium 2024-01-31 07344595 d:SharePremium 2023-01-31 07344595 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 07344595 d:RetainedEarningsAccumulatedLosses 2024-01-31 07344595 d:RetainedEarningsAccumulatedLosses 2023-01-31 07344595 c:OrdinaryShareClass1 2023-02-01 2024-01-31 07344595 c:OrdinaryShareClass1 2024-01-31 07344595 c:OrdinaryShareClass1 2023-01-31 07344595 c:FRS102 2023-02-01 2024-01-31 07344595 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07344595 c:FullAccounts 2023-02-01 2024-01-31 07344595 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07344595 6 2023-02-01 2024-01-31 07344595 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07344595









STATESIDE SKATES HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
STATESIDE SKATES HOLDINGS LIMITED
REGISTERED NUMBER: 07344595

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 6 
303,183
303,183

  
303,183
303,183

Total assets less current liabilities
  
 
 
303,283
 
 
303,283

  

Net assets
  
303,283
303,283


Capital and reserves
  

Called up share capital 
 7 
102
102

Share premium account
 8 
300,200
300,200

Profit and loss account
 8 
2,981
2,981

  
303,283
303,283


Page 1

 
STATESIDE SKATES HOLDINGS LIMITED
REGISTERED NUMBER: 07344595
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 September 2024.




R A Coffer
A J Crichton
Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
STATESIDE SKATES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Stateside Skates Holdings Limited is a private company limited by shares and is incorporated in England and Wales.
The principle activity of the Company continued to be that of a holding company.
The Registered Office is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. With the continued support of the directors and shareholders we 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.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
STATESIDE SKATES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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 to and from related parties and investments in non-puttable ordinary shares.
(i) 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 Comprehensive Income.
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.
(ii) 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.
(iii) Offsetting
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.

Page 4

 
STATESIDE SKATES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

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.


3.


Judgments in applying accounting policies 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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
There are no judgements or estimates which materially effect the amounts in the financial statements.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 February 2023
100



At 31 January 2024
100





6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
303,183
303,183
Page 5

 
STATESIDE SKATES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.Debtors (continued)


303,183
303,183



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



102,000 (2023 - 102,000) Ordinary shares shares of £0.001 each
102
102



8.


Reserves

Share premium account

Includes amounts paid for share capital over the nominal value of the shares issued.

Profit and loss account

Includes all current period retained profits and losses.


9.


Related party transactions

Where possible, the company has taken advantage of the exemption within s33.1A of FRS 102 not to disclose related party transactions with other wholly owned group undertakings.


10.


Controlling party

The immediate parent undertaking is Stateside Skates Group Holdings Limited, a company incorporated in England and Wales.
The ultimate parent undertaking is Stateside Skates Global Holdings Limited, a company incorporated in England and Wales.
The ultimate controlling party is A Crichton.

Page 6