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REGISTERED NUMBER: 13097992 (England and Wales)















Unaudited Financial Statements

for the Period 23 December 2020 to 31 December 2021

for

Three Stars Ltd

Three Stars Ltd (Registered number: 13097992)






Contents of the Financial Statements
for the Period 23 December 2020 to 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Three Stars Ltd

Company Information
for the Period 23 December 2020 to 31 December 2021







DIRECTORS: H Gill
MS C K Gill
MS H K Gill





REGISTERED OFFICE: 2 The Circle
Newbridge
Newport
NP11 5BX





REGISTERED NUMBER: 13097992 (England and Wales)





ACCOUNTANTS: Three Leaves LTD
Chartered Certified Accountants
2 Manor House Lane
Datchet
Slough
Berkshire
SL3 9EB

Three Stars Ltd (Registered number: 13097992)

Balance Sheet
31 December 2021

Notes £    £   
FIXED ASSETS
Tangible assets 4 138,150

CURRENT ASSETS
Stocks 58,875
Debtors 5 3,061
Cash at bank and in hand 21,384
83,320
CREDITORS
Amounts falling due within one year 6 243,757
NET CURRENT LIABILITIES (160,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,287

)

PROVISIONS FOR LIABILITIES 26,249
NET LIABILITIES (48,536 )

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings 8 (48,636 )
SHAREHOLDERS' FUNDS (48,536 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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.

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 1 September 2022 and were signed on its behalf by:



MS H K Gill - Director


Three Stars Ltd (Registered number: 13097992)

Notes to the Financial Statements
for the Period 23 December 2020 to 31 December 2021

1. STATUTORY INFORMATION

Three Stars Ltd 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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery -10% on reducing balance
Fixtures and fittings -10% on reducing balance
Computer equipments - 33.33% on cost

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan to related parties and investments in non-puttable ordinary shares.


Three Stars Ltd (Registered number: 13097992)

Notes to the Financial Statements - continued
for the Period 23 December 2020 to 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 .

Three Stars Ltd (Registered number: 13097992)

Notes to the Financial Statements - continued
for the Period 23 December 2020 to 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 152,000 2,025 154,025
At 31 December 2021 152,000 2,025 154,025
DEPRECIATION
Charge for period 15,200 675 15,875
At 31 December 2021 15,200 675 15,875
NET BOOK VALUE
At 31 December 2021 136,800 1,350 138,150

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 1,992
Other debtors 1,069
3,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 27,689
Taxation and social security 1,198
Other creditors 214,870
243,757

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 1 100

8. RESERVES
Retained
earnings
£   

Deficit for the period (48,636 )
At 31 December 2021 (48,636 )

9. RELATED PARTY DISCLOSURES

Included in creditors there is an amount of £206,903 payable to director, for the expenses incurred on behalf of the company.