2023-04-012024-03-312024-03-31false08720272STAYTRUE 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STAYTRUE LTD

Registered Number
08720272
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

STAYTRUE LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

LEAHY, Morgan John
SHANAHAN, John

Company Secretary

DAVENPORTS GROUP LTD

Registered Address

53 King Street
Manchester
M2 4LQ

Registered Number

08720272 (England and Wales)
STAYTRUE LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets31,000-
Tangible assets485,252106,565
86,252106,565
Current assets
Stocks271,762296,497
Debtors5,62,421,6232,033,583
Cash at bank and on hand492230
2,693,8772,330,310
Creditors amounts falling due within one year7(199,911)(58,984)
Net current assets (liabilities)2,493,9662,271,326
Total assets less current liabilities2,580,2182,377,891
Creditors amounts falling due after one year8(1,530,785)(1,395,893)
Net assets1,049,433981,998
Capital and reserves
Called up share capital22
Other reserves853,381853,381
Profit and loss account196,050128,615
Shareholders' funds1,049,433981,998
The financial statements were approved and authorised for issue by the Board of Directors on 3 December 2024, and are signed on its behalf by:
SHANAHAN, John
Director
Registered Company No. 08720272
STAYTRUE LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Office Equipment20
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Total

£
Cost or valuation
Additions1,000
At 31 March 241,000
Net book value
At 31 March 241,000
At 31 March 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23398,128
At 31 March 24387,813
Depreciation and impairment
At 01 April 23291,563
Charge for year21,313
At 31 March 24302,560
Net book value
At 31 March 2485,252
At 31 March 23106,565
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables227,987229,239
Other debtors-197
Prepayments and accrued income-2,877
Total227,987232,313
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Debtors: amounts due after one year

2024

2023

££
Trade debtors / trade receivables 703,951401,863
Amounts owed by group undertakings 1,435,3511,399,407
Amounts owed by associates and joint ventures / participating interests 803-
Other debtors53,531-
Total2,193,6361,801,270
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables131,00420,544
Bank borrowings and overdrafts20-
Taxation and social security68,88738,440
Total199,91158,984
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts131,992133,992
Amounts owed to related parties1,393,0941,256,202
Other creditors5,6995,699
Total1,530,7851,395,893