Registered number
NI669156
Stanza Holdings (NI) Limited
Group Report and
Financial Statements
30 September 2024
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Contents
Page
Group information 1
Director's report 2
Statement of director's responsibilities 3
Strategic report 4
Independent auditor's report 5-8
Group Profit and Loss Account 9
Group Statement of comprehensive income 10
Group Balance Sheet 11
Group Statement of changes in equity 12
Group Statement of cash flows 13
Notes to the Group financial statements 14-21
Parent company Profit and Loss account 22
Parent company Balance Sheet 23
Notes to the Parent financial statements 24-25
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Company Information
Director
Sean Doyle
Auditors
Fitzpatrick & Kearney Ltd
10c Marcus Square
Newry
Co. Down
BT34 1AE
Bankers
Danske Bank
Belfast Business Centre
P.O. Box 183
Donegall Square West
Belfast
BT1 6JS
Registered office
10c Marcus Square
Newry
Co. Down
BT34 1AE
Registered number
NI669156
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Registered number: NI669156
Director's Report
The director presents his report and the audited consolidated financial statements for the year ended 30th September 2024
Principal activities
The Group's principal activity during the period was the recruitment of staff for employers.
Future developments
The director aims to maintain the management policies which have resulted in the group's substantial growth in recent years.
Events since the balance sheet date
There have been no events since the balance sheet date which would impact upon the group's ability to trade.
Directors
The following persons served as directors during the year:
Sean Doyle
Political donations
During the year, the group made no significant political or charitable contributions.
Disclosure of information to auditors
The director confirms that:
so far as he is aware, there is no relevant audit information of which the group's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditor is aware of that information.
Employment of disabled persons
The group is committed to pursuing equality and diversity in all its employment activities to ensure that the recruitment, training, career development and promotion of disabled persons should as far as possible be identical to that of other employees.
Engagement with employees
The group has various processes in place to actively engage with its employees. The director uses these processes and engagements to understand employees views and to take them into account when making decisions.
This report was approved by the board on 19 March 2025 and signed on its behalf.
Mr Sean Doyle
Director
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Statement of Director's Responsibilities
The director is responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Strategic Report
The group experienced a decline in turnover this year. The directors acknowledge the ongoing pricing pressures in the current market and note that the decrease contrasts with previous growth, which had been driven by targeted growth strategies and the recovery of the Northern Ireland market following the Covid pandemic.
The director feels that the risks to the Group's growth remains with the general economic uncertainty that exists in the marketplace, in particular how the working through of the current 'cost of living crisis' and the continuing BREXIT implications will impact on the labour market in the short and medium term. The director is seeing issues in relation to the availability of labour from EC Countries which in the past had provided growth avenues for the Group. The director remains confident that his policy of providing exceptional customer service and his awareness of the current industry, will allow the Group to continue trading profitably for the forseeable future.
The director continues to be of the view that the imposition of the apprenticeship levy represents an unwelcome significant cost to the business, which has been passed on to the ultimate customers. This charge appears particularly unfair as the credit given is of no value to the business, unlike others subject to the levy.
The director reviews the level of debtors outstanding throughout the year and at the year-end and actively works to ensure that all customers remain within set credit terms. The Group has sufficient cash funds to allow it to take advantage of any growth opportunities that arise within the local market. The Group's trading position and liquidity both remain strong and the outlook for the group is good.
This report was approved by the board on 19 March 2025 and signed on its behalf.
Mr Sean Doyle
Director
Stanza Holdings (NI) Limited
Group Report and Financial Statements
for the year ended 30 September 2024
Independent auditor's report
to the member of Stanza Holdings (NI) Limited
Opinion
We have audited the financial statements of Stanza Holdings (NI) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2024 which comprise the consolidated Profit and loss account, the consolidated Statement of Comprehensive Income, the Group and Company Balance Sheet, the Group and Parent Company Statement of Changes in Equity, the Group and Parent Company Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
In our opinion the financial statements:
give a true and fair view of the state of the group's and of the parent company's affairs as at 30th September 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our evaluation of the director's assessment of the Group's ability to continue to adopt the going concern basis of accounting included the following :
We considered as part of our audit risk assessment of the nature of the Group, its business model and related risks including the requirements of the applicable financial reporting framework and the system of internal control. We evaluated the director's assessment of the Group's or the parent company's ability to continue as a going concern, including challenging the underlying data and key assumptions used to make the assessment, and evaluated the director's plans for future actions in relation to their going concern assessment.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the strategic report, the directors report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below :
Identifying and Assessing potential risks related to irregularities
In identifying and assessing risks of material misstatment in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
the nature of the industry and sector, control environment and business performance
results of our enquiries of management about their identification and assessment of the risks of irregularities
any matters which we have identified having obtained from management whether they were aware of any instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; and reviewing the internal controls established to mitigate risk of fraud or non-compliance with laws and regulations; and
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have identified the greatest potential for fraud in the areas which management is required to exercise significant judgement. In common with all audits under ISA's (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pension and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Group's ability to operate or to avoid a material penalty. These included data protection, employment, environmental and health and safety regulations.
Audit response to risks identified
As a result of performing the above, we identified the potential for management override of the controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to the risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management concerning actual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that many indicate risks of material misstatement due to fraud;
reading minutes of meetings of those charged with governance; and
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Group's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Group's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Group and the Group's members as a body, for our audit work, for this report, or for the opinions we have formed.
Stephen Kearney
(Senior Statutory Auditor)
for and on behalf of
Fitzpatrick & Kearney Ltd 10c Marcus Square
Accountants and Statutory Auditors Newry
19 March 2025 Co. Down
BT34 1AE
Stanza Holdings (NI) Limited
Group Profit and Loss Account
for the year ended 30 September 2024
Notes 2024 2023
£ £
Turnover 3 19,897,318 20,111,145
Cost of sales (17,672,256) (17,628,939)
Gross profit 2,225,062 2,482,206
Administrative expenses (1,850,746) (1,849,879)
Operating profit 4 374,316 632,327
Income from investments (18,426) 70,946
Interest receivable 6,859 6,754
Interest payable 7 (2,694) -
Profit on ordinary activities before taxation 360,055 710,027
Tax on profit on ordinary activities 8 (90,014) (149,734)
Profit for the financial year 270,041 560,293
Stanza Holdings (NI) Limited
Group Statement of comprehensive income
for the year ended 30 September 2024
Notes 2024 2023
£ £
Profit for the financial year 270,041 560,293
Other comprehensive income
Total comprehensive income for the year 270,041 560,293
Stanza Holdings (NI) Limited
Group Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 9 507,839 516,265
Current assets
Debtors 10 1,726,820 1,300,257
Investments held as current assets 11 3,360,702 2,984,124
Cash at bank and in hand 1,927,330 2,051,215
7,014,852 6,335,596
Creditors: amounts falling due within one year 12 (2,475,849) (2,033,406)
Net current assets 4,539,003 4,302,190
Total assets less current liabilities 5,046,842 4,818,455
Provisions for liabilities
Deferred taxation 13 (6,719) (8,773)
Net assets 5,040,123 4,809,682
Capital and reserves
Called up share capital 14 102 102
Profit and loss account 15 5,040,021 4,809,580
Total equity 5,040,123 4,809,682
Mr Sean Doyle
Director
Approved by the board on 19 March 2025
Stanza Holdings (NI) Limited
Consolidated Statement of Changes in Equity
for the year ended 30 September 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 October 2022 102 4,295,187 4,295,289
Profit for the financial year 560,293 560,293
Dividends (45,900) (45,900)
At 30 September 2023 102 4,809,580 4,809,682
At 1 October 2023 102 4,809,580 4,809,682
Profit for the financial year 270,041 270,041
Dividends (39,600) (39,600)
At 30 September 2024 102 5,040,021 5,040,123
Stanza Holdings (NI) Limited
Consolidated Statement of Cash Flows
for the year ended 30 September 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 270,041 560,293
Adjustments for:
Income from investments 18,426 (70,946)
Interest receivable (6,859) (6,754)
Interest payable 2,694 -
Tax on profit on ordinary activities 90,014 149,734
Depreciation 18,079 18,910
(Increase)/decrease in debtors (426,563) 212,390
Increase in creditors 500,281 28,971
466,113 892,598
Income from investments (18,426) 70,946
Interest received 6,859 6,754
Interest paid (2,694) -
Corporation tax paid (151,251) (159,461)
Cash generated by operating activities 300,601 810,837
Investing activities
Payments to acquire tangible fixed assets (9,653) (12,581)
Payments to acquire investments (376,578) (762,249)
Cash used in investing activities (386,231) (774,830)
Financing activities
Equity dividends paid (39,600) (45,900)
Repayment of loans 1,345 184
Cash used in financing activities (38,255) (45,716)
Net cash used
Cash generated by operating activities 300,601 810,837
Cash used in investing activities (386,231) (774,830)
Cash used in financing activities (38,255) (45,716)
Net cash used (123,885) (9,709)
Cash and cash equivalents at 1 October 2,051,215 2,060,924
Cash and cash equivalents at 30 September 1,927,330 2,051,215
Cash and cash equivalents comprise:
Cash at bank 1,927,330 2,051,215
Stanza Holdings (NI) Limited
Notes to the Consolidated Financial Statements
for the year ended 30 September 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of consolidation
The group financial statements consolidate the financial statements of Stanza Holdings (NI) Limited and all its subsidiary undertakings drawn up to 30th September each year.
The subsidiaries of Stanza Holdings (NI) Ltd are :
• First Choice Selection Services Ltd - Company Registration No. NI026337
• Stanza Properties (NI) Limited - Company Registration No. NI673937
Stanza Properties (NI) Limited is exempt from the requirements of the Companies Act 2006 relating to the audit of individual accounts by virtue of Section 479 (c)
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 rendering of Employment Services and investment income. Turnover from the rendering of Employment 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Fixtures and fittings over 5 years
Plant and machinery over 5 years
Debtors
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.
Creditors
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.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Employee benefits
When employees have rendered service to the group, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The group operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
2 Critical accounting estimates and judgements
Going concern: The director has prepared budgets and cash flows for a period of at least 12 months from the date of the approval of the financial statements which demonstrates that there is no material uncertainty regarding the group's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. Accordingly these financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that may arise if the group was unable to continue as a going concern.
Impairment of Trade Debtors: The group trades with a large and varied number of customers on credit terms. Some debts will not be paid through the default of a small number of customers. The group uses estimates based on historical experience and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total trade debtors is £1,695,228 (2023: £1,251,191)
3 Analysis of turnover 2024 2023
£ £
Services rendered 19,897,318 20,111,145
By geographical market:
UK 19,897,318 20,111,145
4 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 18,079 18,910
Auditors' remuneration for audit services 19,220 16,220
Contributions to defined contribution pension plans 646,774 624,252
5 Director's emoluments 2024 2023
£ £
Emoluments 9,488 9,488
Group contributions to defined contribution pension plans 60,000 60,000
69,488 69,488
Highest paid director:
Emoluments 9,488 9,488
Group contributions to defined contribution pension plans 60,000 60,000
69,488 69,488
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 1 1
6 Staff costs 2024 2023
£ £
Wages and salaries 16,821,639 16,842,797
Social security costs 1,298,534 1,252,019
Other pension costs 586,774 564,252
18,706,947 18,659,068
Average number of employees during the year Number Number
Administration 8 9
Temporary Workers 814 833
Sales 24 22
846 864
7 Interest payable 2024 2023
£ £
Bank loans and overdrafts 2,694 -
8 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 92,068 151,251
Deferred tax:
Origination and reversal of timing differences (2,054) (1,517)
Tax on profit on ordinary activities 90,014 149,734
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 360,055 710,027
Standard rate of corporation tax in the UK 25% 19%/25%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 90,014 156,264
Effects of:
Expenses not deductible for tax purposes - 4,162
Capital allowances for period in excess of depreciation 2,054 (2,925)
Losses (utilised)/not utilised against profits - (6,250)
Current tax charge for period 92,068 151,251
Factors that may affect future tax charges
There are no factors which the director expects to affect future tax charges.
9 Tangible fixed assets
Land and buildings Plant and machinery Fixtures & Fittings Total
At Valuation At cost At cost
£ £ £
Cost
At 1 October 2023 480,000 209,756 219,515 909,271
Additions - 6,857 2,796 9,653
At 30 September 2024 480,000 216,613 222,311 918,924
Depreciation
At 1 October 2023 - 192,197 200,809 393,006
Charge for the year - 9,244 8,835 18,079
At 30 September 2024 - 201,441 209,644 411,085
Carrying amount
At 30 September 2024 480,000 15,172 12,667 507,839
At 30 September 2023 480,000 17,559 18,706 516,265
10 Debtors 2024 2023
£ £
Trade debtors 1,695,228 1,251,191
Other debtors 12,232 27,286
Prepayments and accrued income 19,360 21,780
1,726,820 1,300,257
11 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 3,360,702 2,984,124
12 Creditors: amounts falling due within one year 2024 2023
£ £
Bank overdrafts 3,149 1,804
Trade creditors 15,291 25,987
Corporation tax 92,068 151,251
Other taxes and social security costs 1,186,104 964,600
Accruals and deferred income 1,179,237 889,764
2,475,849 2,033,406
13 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 6,719 8,773
2024 2023
£ £
At 1st October 8,773 10,290
Credited to the profit and loss account (2,054) (1,517)
At 30 September 6,719 8,773
14 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 102 102 102
15 Profit and loss account 2024 2023
£ £
At 1st October 4,809,580 4,295,187
Profit for the financial year 270,041 560,293
Dividends (39,600) (45,900)
At 30 September 5,040,021 4,809,580
16 Dividends 2024 2023
£ £
Dividends on ordinary shares (note 15) 39,600 45,900
17 Events after the reporting date
There have been no events since the balance sheet date which would require the financial statements to be re-stated.
18 Bank & other borrowings
The Company's borrowings at 30th September 2024 were secured as follows:

A fixed charge over the company's book debts.
19 Contingent liabilities
As far as the director is aware there are no contingent liabilities at 30th September 2024 not provided for in the accounts.
20 Related party transactions
No related party transactions occurred outside the normal course of business.
21 Controlling party
The group is comprised of Stanza Holdings (NI) Ltd and its two wholly owned subsidiaries Stanza Properties (NI) Ltd and First Choice Selection Services Ltd, however the ultimate controlling party has been identified as Mr Sean Doyle.
22 Presentation currency
The financial statements are presented in Sterling.
23 Principal place of business
The address of the group's principal registered office is:
10c Marcus Square
Newry
Co. Down
BT34 1AE
24 Financial Instruments
The carrying amounts of the company's financial instruments are as follows:
2024 2023
Debt instruments measured at amortised cost : £ £
Trade debtors (note 9) 1,695,228 1,251,191
Other debtors (note 9) 12,232 27,286
1,707,460 1,278,477
Financial Liabilities
Measured at amortised cost
-Bank loans and overdrafts (note 11) 3,149 1,804
-Trade creditors (note 11) 15,291 25,987
18,440 27,791
Stanza Holdings (NI) Limited
Parent Profit and Loss Account
for the year ended 30 September 2024
Notes 2024 2023
£ £
Administrative expenses (5,812) (9,562)
Operating loss (5,812) (9,562)
Income from investments 431,574 570,946
Interest receivable 4 53
Profit on ordinary activities before taxation 425,766 561,437
Tax on profit on ordinary activities - (7,271)
Profit for the financial year 425,766 554,166
Stanza Holdings (NI) Limited
Parent Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 4 4
4 4
Current assets
Investments held as current assets 4 3,360,702 2,984,124
Cash at bank and in hand 33,639 279,631
3,394,341 3,263,755
Creditors: amounts falling due within one year 5 (3,002) (9,553)
Net current assets 3,391,339 3,254,202
Total assets less current liabilities 3,391,343 3,254,206
Net assets 3,391,343 3,254,206
Capital and reserves
Called up share capital 102 102
Profit and loss account 3,008,112 2,499,846
Total equity 3,008,214 2,499,948
Mr Sean Doyle
Director
Approved by the board on 19 March 2025
Stanza Holdings (NI) Limited
Parent Notes to the Financial Statements
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
First Choice Selection Services Limited 2
Stanza Properties (NI) Limited 2
At 30 September 2024 4
Stanza Holdings (NI) Limited owns 100% of the shareholding in the following subsidiary companies :
● First Choice Selection Services Limited
● Stanza Properties (NI) Limited
4 Investments held as current assets 2024 2023
£ £
Unlisted investments 3,360,702 2,984,124
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 7,271
Other creditors 3,002 2,282
3,002 9,553
6 Events after the reporting date
No events occurred after the reporting date which require adjustment to the financial statements or disclosure in the financial statements.
7 Contingent liabilities
As far as the director is aware there are no contingent liabilities at 30th September 2024 not provided for in the accounts.
8 Related party transactions
There were no related party transactions outside the normal course of business.
9 Other information
Stanza Holdings (NI) Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
10c Marcus Square
Newry
Co. Down
BT34 1AE
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