The Stageworks Gear Company Limited - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 07124504 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

The Stageworks Gear Company Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Chambers

M. Chambers

R Chambers

SECRETARY:

M. Chambers

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

07124504 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

4

22,686

25,233

Tangible assets

5

1,066

1,333

23,752

26,566

CURRENT ASSETS

Stocks

83,782

61,140

Debtors

1,581

3,400

Cash at bank and in hand

9,859

936

95,222

65,476

CREDITORS

Amounts falling due within one year

9,066

11,520

NET CURRENT ASSETS

86,156

53,956

TOTAL ASSETS LESS CURRENT LIABILITIES

109,908

80,522

CREDITORS

Amounts falling due after more than one year

500,260

465,163

NET LIABILITIES

(390,352

)

(384,641

)

CAPITAL AND RESERVES

Called up share capital

6

80,600

80,600

Retained earnings

(470,952

)

(465,241

)

SHAREHOLDERS' FUNDS

(390,352

)

(384,641

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:

M D Chambers - Director

1.	STATUTORY INFORMATION

The Stageworks Gear Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis, based on the continued financial support of the Director.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

50,951

AMORTISATION

At 1 January 2022

25,718

Amortisation for year

2,547

At 31 December 2022

28,265

NET BOOK VALUE

At 31 December 2022

22,686

At 31 December 2021

25,233

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

17,044

DEPRECIATION

At 1 January 2022

15,711

Charge for year

267

At 31 December 2022

15,978

NET BOOK VALUE

At 31 December 2022

1,066

At 31 December 2021

1,333

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

80,600

ordinary

£1

80,600

80,600