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Registered number: 08873717
Stage and Studio Services Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Greenbridge Consultancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08873717
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 83,711 85,191
83,711 85,191
CURRENT ASSETS
Debtors 5 297 4,547
Cash at bank and in hand 24,450 22,838
24,747 27,385
Creditors: Amounts Falling Due Within One Year 6 (18,594 ) (18,691 )
NET CURRENT ASSETS (LIABILITIES) 6,153 8,694
TOTAL ASSETS LESS CURRENT LIABILITIES 89,864 93,885
Creditors: Amounts Falling Due After More Than One Year 7 (9,821 ) (11,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,655 ) (14,911 )
NET ASSETS 65,388 67,307
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 65,288 67,207
SHAREHOLDERS' FUNDS 65,388 67,307
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Trevor Wilkins
Director
27/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stage and Studio Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08873717 . The registered office is 2 Cactus Drive, Leegomery, Telford, Shropshire, TF1 6XA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises of the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 March 2023 7,138 193,752 12,193 213,083
Additions - 18,571 - 18,571
Disposals - (580 ) - (580 )
As at 29 February 2024 7,138 211,743 12,193 231,074
Depreciation
As at 1 March 2023 428 122,130 5,334 127,892
Provided during the period 134 17,997 1,715 19,846
Disposals - (375 ) - (375 )
As at 29 February 2024 562 139,752 7,049 147,363
Net Book Value
As at 29 February 2024 6,576 71,991 5,144 83,711
As at 1 March 2023 6,710 71,622 6,859 85,191
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 3,167
Prepayments and accrued income 185 1,358
Other debtors - 22
Director's loan account 112 -
297 4,547
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2 205
Bank loans and overdrafts 5,000 5,000
Corporation tax 6,833 8,065
VAT 5,787 2,694
Accruals and deferred income 972 1,088
Director's loan account - 1,639
18,594 18,691
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Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,667 11,667
Accruals and deferred income 3,154 -
9,821 11,667
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5