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Registered number: 10740619









STATESIDE SKATES GROUP HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
STATESIDE SKATES GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 10740619

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
3,250,000
16,193,242

  
3,250,000
16,193,242

  

Creditors: amounts falling due within one year
 5 
(303,183)
(4,730,731)

Net current liabilities
  
 
 
(303,183)
 
 
(4,730,731)

Total assets less current liabilities
  
2,946,817
11,462,511

  

Net assets
  
2,946,817
11,462,511


Capital and reserves
  

Called up share capital 
  
100,006
100,006

Share premium account
  
5,970,004
5,970,004

Profit and loss account
  
(3,123,193)
5,392,501

  
2,946,817
11,462,511


Page 1

 
STATESIDE SKATES GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 10740619
    
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 






R A Coffer
A J Crichton
Director
Director


Date: 5 September 2024

Page 2

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

1.


General information

Stateside Skates Group 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 5).

Page 3

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

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 February 2023
18,099,596



At 31 January 2024

18,099,596



Impairment


At 1 February 2023
1,906,354


Charge for the period
12,943,242



At 31 January 2024

14,849,596



Net book value



At 31 January 2024
3,250,000



At 31 January 2023
16,193,242


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
303,183
4,630,996

Other creditors
-
99,735

303,183
4,730,731



6.


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. 

Page 4

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

7.


Controlling party

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

Page 5