Registered number
11930276
SECOND STAIN LIMITED
Unaudited Filleted Accounts
Year ended 30 April 2024
SECOND STAIN LIMITED Registered number: 11930276
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 1,256,547 1,277,170
Current assets
Debtors 4 649,663 486,491
Cash at bank and in hand 1,479,033 812,502
2,128,696 1,298,993
Creditors: amounts falling due within one year 5 (335,152) (379,215)
Net current assets 1,793,544 919,778
Total assets less current liabilities 3,050,091 2,196,948
Provisions for liabilities (76,769) (73,617)
Net assets 2,973,322 2,123,331
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,973,321 2,123,330
Shareholder's funds 2,973,322 2,123,331
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M El-Sayegh
Director
Approved by the board on 29 April 2025
SECOND STAIN LIMITED
Notes to the Accounts
for the year ended 30 April 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).
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 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (i.e. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
(including directors)
3 Tangible fixed assets
Land and building Plant, machinery, fixtures, fittings and equipment Total
£ £ £
Cost
At 1 May 2023 1,236,784 120,742 1,357,526
Additions - 37,806 37,806
At 30 April 2024 1,236,784 158,548 1,395,332
Depreciation
At 1 May 2023 44,271 36,085 80,356
Charge for the year 27,813 30,616 58,429
At 30 April 2024 72,084 66,701 138,785
Net book value
At 30 April 2024 1,164,700 91,847 1,256,547
At 30 April 2023 1,192,513 84,657 1,277,170
4 Debtors 2024 2023
£ £
Trade debtors 258,323 15,554
Other debtors 391,340 470,937
649,663 486,491
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,011 4,452
Taxation and social security costs 287,462 130,180
Other creditors 41,679 244,583
335,152 379,215
6 Loans to directors
Description and conditions B/fwd. Paid Repaid C/fwd.
£ £ £ £
M M EL-SAYEGH
Loan - 54,018 - 54,018
- 54,018 - 54,018
7 Other information
SECOND STAIN LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
32-34 Arlington Road
London
NW1 7HU
The accounts are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £.
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