Registration number:
Stashbee Ltd
for the Year Ended 30 June 2020
Stashbee Ltd
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Stashbee Ltd
Company Information
Directors |
D Mantle A Paine |
Registered office |
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Accountants |
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Stashbee Ltd
Directors' Report for the Year Ended 30 June 2020
The directors present their report and the financial statements for the year ended 30 June 2020.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of a digital platform for storage rentals.
Small companies provision statement
This report has 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.
Approved by the
.........................................
Director
Stashbee Ltd
(Registration number: 09950111)
Balance Sheet as at 30 June 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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|
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Capital and reserves |
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Called up share capital |
253 |
253 |
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Share premium reserve |
3,955,688 |
3,955,688 |
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Other reserves |
14,916 |
- |
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Profit and loss account |
(1,771,336) |
(993,602) |
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Shareholders' funds |
2,199,521 |
2,962,339 |
For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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 provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
A Paine
Director
Stashbee Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
General information |
The company registered number is: 09950111
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with the provisions of FRS 102 Section 1A - small entities applicable in the UK and Republic of Ireland. There were no material departures from that standard.
The financial statements for the year ended 30th June 2020 are the first financial statements of Stashbee Ltd, prepared in accordance with FRS102 Section 1A, The Financial Reporting Standards applicable in the UK and Republic of Ireland. The date of transition to FRS102 Section 1A was 1st July 2018. The reported financial position and financial performance for the previous period are not affected by the transition to FRS102 Section 1A.
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.
Basis of preparation
These financial statements were prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
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 relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Stashbee Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Office equipment |
3 years straight line |
Computer equipment |
3 years straight line |
Research and development costs
Expenditure on research and development is written off against profits in the year in which it is incurred.
Stashbee Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 July 2019 |
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Additions |
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At 30 June 2020 |
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Depreciation |
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At 1 July 2019 |
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Charge for the year |
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At 30 June 2020 |
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Carrying amount |
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At 30 June 2020 |
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At 30 June 2019 |
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Debtors |
2020 |
2019 |
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Trade debtors |
- |
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Prepayments |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Stashbee Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was