Year Ended
Registration number:
Stratosphere Holdings Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Stratosphere Holdings Ltd
Company Information
Director |
Mr J L Antoniou |
Registered office |
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Accountants |
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Stratosphere Holdings Ltd
Balance Sheet
31 October 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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Stratosphere Holdings Ltd
Balance Sheet
31 October 2020
For the financial year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 11648965
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.
Going concern
The director, having made all necessary enquiries and given due consideration to the current operational and financial conditions and future outlook, is satisfied that the company will continue to meet its liabilities as they fall due and that the going concern basis of preparation remains appropriate for the foreseeable future being no less that 12 months from the date of approval of these accounts.
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Key sources of estimation uncertainty
The director is satisfied, having considered the current financial position and performance of the company in light of the ongoing Covid-19 challenges that the going concern assessment (which is a critical accounting judgement) remains appropriate. In making this assessment, the director has taken account (from the date of approval of these financial statements) of possible changes in income levels, in order to determine when, and to what extent any further cost management measures may need to be implemented..
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents |
10% straight line |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Intangible assets |
Trademarks, patents and licenses |
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Cost or valuation |
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At 1 November 2019 |
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At 31 October 2020 |
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Amortisation |
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At 1 November 2019 |
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Amortisation charge |
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At 31 October 2020 |
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Carrying amount |
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At 31 October 2020 |
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At 31 October 2019 |
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Investments |
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2019 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost or valuation |
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At 1 November 2019 |
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Provision |
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Carrying amount |
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At 31 October 2020 |
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At 31 October 2019 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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Subsidiary undertakings |
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* indirectly owned as a 100% subsidiary of Mary-Jane's Coffee Limited.
** indirectly owned as a 100% subsidiary of Mary-Jane's Coffee Shops Ltd who is a 100% subsidiary of Mary-Jane's Coffee Limited.
Subsidiary undertakings |
Farmacy Group Limited The principal activity of Farmacy Group Limited is |
Mary-Jane's Coffee Limited The principal activity of Mary-Jane's Coffee Limited is |
Mary-Jane's Coffee Shops Ltd * The principal activity of Mary-Jane's Coffee Shops Ltd * is |
Mary-Jane's Beauty Ltd * The principal activity of Mary-Jane's Beauty Ltd * is |
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Mary-Jane's Java Ltd * The principal activity of Mary-Jane's Java Ltd * is |
MJ's Co Shop 1 Ltd ** The principal activity of MJ's Co Shop 1 Ltd ** is |
MJ's Co Shop 2 Ltd ** The principal activity of MJ's Co Shop 2 Ltd ** is |
Debtors |
Note |
2020 |
2019 |
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Amounts owed by group undertakings |
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- |
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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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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Stratosphere Holdings Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2020
Non adjusting events after the financial period |
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