Stage Set & Light Limited 05334962 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of stage and set builders Digita Accounts Production Advanced 6.30.9574.0 true 05334962 2023-04-01 2024-03-31 05334962 2024-03-31 05334962 bus:OrdinaryShareClass1 2024-03-31 05334962 bus:OrdinaryShareClass2 2024-03-31 05334962 bus:OrdinaryShareClass3 2024-03-31 05334962 bus:OrdinaryShareClass4 2024-03-31 05334962 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 05334962 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 05334962 core:CurrentFinancialInstruments 2024-03-31 05334962 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05334962 core:Non-currentFinancialInstruments 2024-03-31 05334962 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05334962 core:FurnitureFittingsToolsEquipment 2024-03-31 05334962 core:MotorVehicles 2024-03-31 05334962 bus:SmallEntities 2023-04-01 2024-03-31 05334962 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05334962 bus:FilletedAccounts 2023-04-01 2024-03-31 05334962 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05334962 bus:RegisteredOffice 2023-04-01 2024-03-31 05334962 bus:Director3 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 05334962 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 05334962 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05334962 core:FurnitureFittings 2023-04-01 2024-03-31 05334962 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05334962 core:MotorVehicles 2023-04-01 2024-03-31 05334962 core:OfficeEquipment 2023-04-01 2024-03-31 05334962 core:PlantMachinery 2023-04-01 2024-03-31 05334962 countries:England 2023-04-01 2024-03-31 05334962 2023-03-31 05334962 core:FurnitureFittingsToolsEquipment 2023-03-31 05334962 core:MotorVehicles 2023-03-31 05334962 2022-04-01 2023-03-31 05334962 2023-03-31 05334962 bus:OrdinaryShareClass1 2023-03-31 05334962 bus:OrdinaryShareClass2 2023-03-31 05334962 bus:OrdinaryShareClass3 2023-03-31 05334962 bus:OrdinaryShareClass4 2023-03-31 05334962 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 05334962 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 05334962 core:CurrentFinancialInstruments 2023-03-31 05334962 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05334962 core:Non-currentFinancialInstruments 2023-03-31 05334962 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05334962 core:FurnitureFittingsToolsEquipment 2023-03-31 05334962 core:MotorVehicles 2023-03-31 05334962 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 05334962 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 05334962 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 05334962 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05334962

Stage Set & Light Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Stage Set & Light Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Stage Set & Light Limited

(Registration number: 05334962)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,603

59,947

Current assets

 

Debtors

5

186,033

237,013

Cash at bank and in hand

 

121,713

65,933

 

307,746

302,946

Creditors: Amounts falling due within one year

6

(262,080)

(165,384)

Net current assets

 

45,666

137,562

Total assets less current liabilities

 

93,269

197,509

Creditors: Amounts falling due after more than one year

6

(31,090)

(46,793)

Provisions for liabilities

(9,344)

(13,124)

Net assets

 

52,835

137,592

Capital and reserves

 

Called up share capital

7

110

110

Retained earnings

52,725

137,482

Shareholders' funds

 

52,835

137,592

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
S Deeming
Director

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Langley Drive
Birmingham
B35 7AD

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

Preparation of the financial statements requires management to make significant judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the change takes place if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% per annum on cost

Fixtures and fittings

15% per annum on cost

Motor vehicles

25% per annum on cost

Office equipment

25% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company under contracts of service (including directors) during the year, was 8 (2023: 8).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

290,014

85,300

375,314

Additions

9,031

-

9,031

Disposals

-

(24,500)

(24,500)

At 31 March 2024

299,045

60,800

359,845

Depreciation

At 1 April 2023

270,867

44,500

315,367

Charge for the year

9,675

11,700

21,375

Eliminated on disposal

-

(24,500)

(24,500)

At 31 March 2024

280,542

31,700

312,242

Carrying amount

At 31 March 2024

18,503

29,100

47,603

At 31 March 2023

19,147

40,800

59,947

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

142,379

196,266

Prepayments

31,779

26,728

Other debtors

11,875

14,019

 

186,033

237,013

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,618

12,352

Trade creditors

 

164,890

44,698

Taxation and social security

 

84,235

101,724

Accruals and deferred income

 

4,671

5,160

Other creditors

 

1,666

1,450

 

262,080

165,384

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

31,090

46,793

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

56

56

56

56

Ordinary B shares of £1 each

44

44

44

44

Ordinary C shares of £1 each

5

5

5

5

Ordinary D shares of £1 each

5

5

5

5

110

110

110

110

 

Stage Set & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

31,090

36,760

Hire purchase contracts

-

10,033

31,090

46,793

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,618

6,619

Hire purchase contracts

-

5,733

6,618

12,352

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary A share

-

-

Interim dividend of £1,500.00 (2023 - £1,505.00) per each Ordinary B share

66,000

66,220

Interim dividend of £11,500.00 (2023 - £13,650.00) per each Ordinary C share

57,500

68,250

Interim dividend of £12,135.00 (2023 - £13,650.00) per each Ordinary D share

60,675

68,250

184,175

202,720