Company registration number 06562011 (England and Wales)
STAGE LIGHTING SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
STAGE LIGHTING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
STAGE LIGHTING SERVICES LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
698,037
558,366
Current assets
Stocks
63,210
80,189
Debtors
5
344,053
293,576
Cash at bank and in hand
41,518
52,909
448,781
426,674
Creditors: amounts falling due within one year
6
(189,209)
(129,049)
Net current assets
259,572
297,625
Total assets less current liabilities
957,609
855,991
Provisions for liabilities
(58,337)
(64,495)
Net assets
899,272
791,496
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
899,172
791,396
Total equity
899,272
791,496

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 16 October 2024
Mr P E Hurley
Director
Company Registration No. 06562011
STAGE LIGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Stage Lighting Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A, Avenue Park Industrial Estate, Croescadarn Close, Pentwyn, Cardiff, United Kingdom, CF23 8HE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Stage Sound Services Ltd. These consolidated financial statements are available from its registered office, Unit A, Avenue Park Industrial Estate, Croescadarn Close, Pentwyn, Cardiff, CF23 8HE.

1.2
Going concern

The scale and volume of equipment required for productions is dramatically exceeding pre-COVID-19 levels. The amount of equipment utilised for each production has significantly increased, as creative professionals are actively embracing new technologies to enhance their designs.true

Furthermore, several productions are extending beyond their initially agreed rental periods. This extension is beneficial for cash generation, as the assets for these productions have already been acquired, resulting in minimal ongoing purchase requirements for these productions.

 

Based on all the above factors and the updated forecasts prepared the director is confident that the company will be able to meet its debts as they fall due for at least the next twelve months from the date of approval of these financial statements. Based on these indications the director believes that it remains appropriate to prepare the financial statements on a going concern basis.

STAGE LIGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods rented or sold provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvement
Straight line over 5 years
Plant and machinery
12.5% on cost
Fixtures, fittings & equipment
25% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

STAGE LIGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
17
STAGE LIGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
150,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
150,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
4
Tangible fixed assets
Property improvement
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
30,631
1,460,890
145,311
160,095
1,796,927
Additions
-
0
274,804
967
1,475
277,246
Disposals
-
0
(62,851)
-
0
(18,773)
(81,624)
At 30 April 2024
30,631
1,672,843
146,278
142,797
1,992,549
Depreciation and impairment
At 1 May 2023
30,631
935,602
144,644
127,684
1,238,561
Depreciation charged in the year
-
0
125,717
909
8,900
135,526
Eliminated in respect of disposals
-
0
(60,802)
-
0
(18,773)
(79,575)
At 30 April 2024
30,631
1,000,517
145,553
117,811
1,294,512
Carrying amount
At 30 April 2024
-
0
672,326
725
24,986
698,037
At 30 April 2023
-
0
525,288
667
32,411
558,366
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
149,282
92,768
Amounts owed by group undertakings
194,771
200,808
344,053
293,576
STAGE LIGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
81,651
29,313
Corporation tax
42,255
30,707
Other taxation and social security
39,267
38,682
Other creditors
26,036
30,347
189,209
129,049
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mr John Griffiths
Statutory Auditor:
UHY Hacker Young
Date of audit report:
16 October 2024
9
Related party transactions
Transactions with related parties
Other information

The company has taken advantage of the exemption, under the terms of FRS 102 section 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group.

 

At the year end the amount due from Stage Sound Services Ltd, its parent company, was £194,771 (2023: £200,808) being included in debtors amounts falling due within one year.

10
Parent company

The immediate and ultimate parent company is Stage Sound Services Ltd, a company incorporated in England and Wales.

 

Stage Sound Services Ltd is the parent of the smallest and largest group of which the company is a member and for which consolidated accounts are prepared. Copies of the Stage Sound Services Ltd accounts can be obtained from its registered office, Unit A, Avenue Park Industrial Estate, Croescadarn Close, Pentwyn, Cardiff, CF23 8HE.

 

The ultimate controlling party is Mr P E Hurley by virtue of his shareholding in Stage Sound Services Limited.

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