Company registration number: 09445912
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FOR THE YEAR ENDED
31 MARCH 2024
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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COMPANY INFORMATION
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
REGISTERED NUMBER:09445912
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
REGISTERED NUMBER:09445912
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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:
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I D Bateson
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The notes on pages 3 to 6 form part of these financial statements.
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Stable Micro Systems (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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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.
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Exemption from preparing consolidated financial statements
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The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The company has elected to measure freehold property at its fair value on the date of transition to FRS 102, and use that fair value as its deemed cost going forward.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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on cost of freehold buildings
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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The average monthly number of employees, including directors, during the year was 5 (2023 - 5).
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Investments in subsidiary companies
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STABLE MICRO SYSTEMS (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Related party transactions
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Stable Micro Systems (Holdings) Limited has taken advantage of the exemption under FRS 102 from disclosing transactions between the company and its subsidiary.
At the beginning of the year, the Company owed £156,619 (2023: £300,569) to I Bateson, a director of the Company. During the year, advancements of £248,434 from the director (2023: £235,458) and repayments of £271,980 to the director (2023: £379,408) existed. At the year end a loan balance of £133,073 (2023: £156,619) was owed to I Bateson. No interest has been charged on this loan.
At the beginning of the year, the Company owed £139,618 (2023: £292,674) to T Raven, a director of the Company. During the year, advancements of £248,434 from the director (2023: £235,458) and repayments of £276,093 to the director (2023: £388,514) existed. At the year end a loan balance of £111,959 (2023: £139,618) was owed to T Raven. No interest has been charged on this loan.
At the beginning of the year, the Company owed £175,580 (2023: £324,417) to J Walker, a director of the Company. During the year, advancements of £248,434 from the director (2023: £235,458) and repayments of £186,950 to the director (2023: £384,295) existed. At the year end a loan balance of £237,064 (2023: £175,580) was owed to J Walker. No interest has been charged on this loan.
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