Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 272,243 | 5,460,170 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 247,498 | 5,330,492 | ||
| Total assets less current liabilities | 247,498 | 5,330,492 | ||
| Creditors: amounts falling due after more than one year | 5 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Stade Developments (Hastings) Limited (registered number:
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Henry Charles Moreton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Stade Developments (Hastings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Studio 5 Rowditch Business Centre, 282 Uttoxeter New Road, Derby, DE22 3LN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Amounts owed by Parent undertakings |
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| Amounts owed by associates |
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| Amounts owed by directors |
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| Accrued income |
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| VAT recoverable |
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| Other taxation and social security |
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| Other debtors |
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| Bank loans |
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| Trade creditors |
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| Amounts owed to associates |
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| Accruals |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Bank loans |
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| Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by/(to) ACM Leisure Limited, a company under common control | (4,687) | 1,270,905 |
No interest has been charged on these balances and there are no fixed dates for repayment.
The group has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.
Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Owed by the directors | 66,890 | 529,450 |
During the year the directors maintained a current account with the Company. Amounts advanced during the period totalled £9,350 (2023: £38,000) and amounts repaid totalled £473,382 (2023: £3,552). Interest of £11,696 (2023: £10,989) was charged on the loan at the HMRC approved rate and there are no fixed repayment terms.