1 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07926946 2023-02-01 2024-01-31 07926946 2024-01-31 07926946 2023-01-31 07926946 2022-02-01 2023-01-31 07926946 2023-01-31 07926946 2022-01-31 07926946 bus:RegisteredOffice 2023-02-01 2024-01-31 07926946 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 07926946 bus:Director1 2023-02-01 2024-01-31 07926946 core:WithinOneYear 2024-01-31 07926946 core:WithinOneYear 2023-01-31 07926946 core:ShareCapital 2024-01-31 07926946 core:ShareCapital 2023-01-31 07926946 core:RetainedEarningsAccumulatedLosses 2024-01-31 07926946 core:RetainedEarningsAccumulatedLosses 2023-01-31 07926946 bus:Director1 2023-01-31 07926946 bus:Director1 2024-01-31 07926946 bus:Director1 2022-01-31 07926946 bus:Director1 2023-01-31 07926946 bus:Director1 2022-02-01 2023-01-31 07926946 bus:SmallEntities 2023-02-01 2024-01-31 07926946 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07926946 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07926946 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07926946 bus:FullAccounts 2023-02-01 2024-01-31 07926946 core:ComputerEquipment 2024-01-31 07926946 core:ComputerEquipment 2023-01-31 07926946 core:ComputerEquipment 2023-02-01 2024-01-31
Company registration number: 07926946
Small Stag Ltd
Unaudited filleted financial statements
31 January 2024
Small Stag Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Small Stag Ltd
Directors and other information
Director Ms S Cullane
Company number 07926946
Registered office 49 Wavertree Road
London
SW2 3SL
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Small Stag Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Small Stag Ltd
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Small Stag Ltd for the year ended 31 January 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Small Stag Ltd, as a body, in accordance with the terms of our engagement letter dated 13 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Small Stag Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Small Stag Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Small Stag Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Small Stag Ltd. You consider that Small Stag Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Small Stag Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
31 October 2024
Small Stag Ltd
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 690 1,381
_______ _______
690 1,381
Current assets
Debtors 6 9,033 1,819
Cash at bank and in hand 1,447 1,752
_______ _______
10,480 3,571
Creditors: amounts falling due
within one year 7 ( 10,885) ( 4,484)
_______ _______
Net current liabilities ( 405) ( 913)
_______ _______
Total assets less current liabilities 285 468
Provisions for liabilities ( 140) ( 350)
_______ _______
Net assets 145 118
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 45 18
_______ _______
Shareholders funds 145 118
_______ _______
For the year ending 31 January 2024 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Ms S Cullane
Director
Company registration number: 07926946
Small Stag Ltd
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 49 Wavertree Road, London, SW2 3SL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, 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.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is 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 - Straight line over 3 years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 February 2023 and 31 January 2024 2,072 2,072
_______ _______
Depreciation
At 1 February 2023 691 691
Charge for the year 691 691
_______ _______
At 31 January 2024 1,382 1,382
_______ _______
Carrying amount
At 31 January 2024 690 690
_______ _______
At 31 January 2023 1,381 1,381
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 2,135 -
Other debtors 6,898 1,819
_______ _______
9,033 1,819
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,140 -
Corporation tax 4,945 3,349
Other creditors 4,800 1,135
_______ _______
10,885 4,484
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Ms S Cullane 1,819 5,079 - 6,898
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Ms S Cullane ( 44,158) 1,819 44,158 1,819
_______ _______ _______ _______
9. Related party transactions
The company was provided with a loan totalling £3,600 from Mr V Cullane a related party with Ms S Cullane . As at 31 January 2024, there was a balance due to Mr V Cullane of £3,600 (2023: £nil).