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Registered number: 09954539
Stay At Mine Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09954539
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,010 -
Tangible Assets 5 176,222 131,034
185,232 131,034
CURRENT ASSETS
Debtors 6 420,247 361,285
Cash at bank and in hand 561,931 407,234
982,178 768,519
Creditors: Amounts Falling Due Within One Year 7 (1,114,796 ) (847,237 )
NET CURRENT ASSETS (LIABILITIES) (132,618 ) (78,718 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,614 52,316
Creditors: Amounts Falling Due After More Than One Year 8 (29,514 ) (64,773 )
NET ASSETS/(LIABILITIES) 23,100 (12,457 )
CAPITAL AND RESERVES
Called up share capital 9 3 3
Profit and Loss Account 23,097 (12,460 )
SHAREHOLDERS' FUNDS 23,100 (12,457)
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Adam Kossew
Director
24/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Stay At Mine Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09954539 . The registered office is 2 Nottingham Court, London, WC2H 9BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to developed software. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 5 years straight line
Fixtures & Fittings 3 years straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 15 15
15 15
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 -
Additions 10,600
As at 30 April 2024 10,600
Amortisation
As at 1 May 2023 -
Provided during the period 1,590
As at 30 April 2024 1,590
Net Book Value
As at 30 April 2024 9,010
As at 1 May 2023 -
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 23,500 127,745 151,245
Additions - 92,831 92,831
Disposals - (3,515 ) (3,515 )
As at 30 April 2024 23,500 217,061 240,561
Depreciation
As at 1 May 2023 3,525 16,686 20,211
Provided during the period 4,700 42,943 47,643
Disposals - (3,515 ) (3,515 )
As at 30 April 2024 8,225 56,114 64,339
Net Book Value
As at 30 April 2024 15,275 160,947 176,222
As at 1 May 2023 19,975 111,059 131,034
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 135,529 164,661
Prepayments and accrued income 23,914 20,927
Other debtors 248,837 52,666
Directors' loan accounts 2,582 113,646
410,862 351,900
Due after more than one year
Other debtors 9,385 9,385
420,247 361,285
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,674 50,781
Bank loans and overdrafts 31,385 31,385
Other taxes and social security 89,756 65,230
Other creditors 554,392 469,968
Accruals and deferred income 385,589 229,873
1,114,796 847,237
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,514 64,773
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 33,000 27,500
Later than one year and not later than five years 132,000 132,000
Later than five years - 8,250
165,000 167,750
11. Ultimate Controlling Party
The company is controlled by the three directors by virtue of their equally distributed ownership of 100% of the issued share capital in the company.
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