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Registration number: 02365161

Northern Staging Ltd
Annual Report and
Unaudited Financial Statements

30 June 2024

 

Northern Staging Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Northern Staging Ltd

Balance Sheet
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

174

Tangible assets

5

420,399

433,080

 

420,399

433,254

Current assets

 

Stocks

6

-

56,970

Debtors

7

13,556

774

Cash at bank and in hand

 

49

(69)

 

13,605

57,675

Creditors: Amounts falling due within one year

8

(435,650)

(318,787)

Net current liabilities

 

(422,045)

(261,112)

Total assets less current liabilities

 

(1,646)

172,142

Creditors: Amounts falling due after more than one year

8

-

(176,056)

Provisions for liabilities

-

(9,634)

Net liabilities

 

(1,646)

(13,548)

Capital and reserves

 

Called up share capital

6,500

6,500

Retained earnings

(8,146)

(20,048)

Shareholders' deficit

 

(1,646)

(13,548)

 

Northern Staging Ltd

Balance Sheet
30 June 2024

For the financial year from 1 January 2022 to 30 June 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 28 March 2025 and signed on its behalf by:
 

.........................................
Mr M C Sweetland
Director

Company Registration Number: 02365161

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Butler Works
Wyresdale Road
Lancaster
Lancashire
LA1 3JJ

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

Tax

The tax expense for the period comprises 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.

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

Freehold property

2% straight line (excluding land)

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Motor vehicles

20% straight line

Office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Licences

Over the term

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 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.

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.

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 (including Directors) during the year, was 4 (2023 - 8).

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2023

12,675

13,740

26,415

At 30 June 2024

12,675

13,740

26,415

Amortisation

At 1 July 2023

12,675

13,566

26,241

Amortisation charge

-

174

174

At 30 June 2024

12,675

13,740

26,415

Carrying amount

At 30 June 2024

-

-

-

At 30 June 2023

-

174

174

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2023 - £2,700).
 

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

517,140

23,099

23,825

224,203

788,267

At 30 June 2024

517,140

23,099

23,825

224,203

788,267

Depreciation

At 1 July 2023

93,696

17,445

23,825

220,221

355,187

Charge for the year

5,772

2,927

-

3,982

12,681

At 30 June 2024

99,468

20,372

23,825

224,203

367,868

Carrying amount

At 30 June 2024

417,672

2,727

-

-

420,399

At 30 June 2023

423,444

5,654

-

3,982

433,080

Included within the net book value of land and buildings above is £417,672 (2023 - £423,444) in respect of freehold land and buildings.
 

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

-

56,970

7

Debtors

Current

2024
£

2023
£

Prepayments

-

774

Other debtors

13,556

-

 

13,556

774

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

227,627

71,765

Trade creditors

 

19,585

30,696

Taxation and social security

 

10,382

23,334

Accruals and deferred income

 

2,200

2,050

Other creditors

 

175,856

190,942

 

435,650

318,787

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

176,056

 

Northern Staging Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

130,456

Other borrowings

-

45,600

-

176,056

Current loans and borrowings

2024
£

2023
£

Bank borrowings

137,823

34,683

Bank overdrafts

34,371

29,784

Other borrowings

55,433

7,298

227,627

71,765