Company registration number 00354910 (England and Wales)
STARETON INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
STARETON INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
STARETON INVESTMENTS LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
56,706
Cash at bank and in hand
59,858
737
59,858
57,443
Creditors: amounts falling due within one year
4
(1,083)
(1,682)
Net current assets
58,775
55,761
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
57,775
54,761
Total equity
58,775
55,761
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 August 2022 and are signed on its behalf by:
Mrs E V Clark
Director
Company Registration No. 00354910
STARETON INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
- 2 -
1
Accounting policies
Company information
Stareton Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fowlers Wells Farm, 44 Windsor Road, Chobham Woking, GU24 8LD.
1.1
Reporting period
The company ceased its activities on 30 June 2022 and the accounting period has been extended to this date.
These financial statements are presented for the fifteen month period ended 30 June 2022 and are not directly comparable to the comparative amounts which cover the twelve months ended 31 March 2021.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
The company ceased its activities on 30 June 2022 and therefore the financial statements are prepared on a basis other than going concern.true
1.4
Turnover
Turnover represents the activities of dealing in property and investments.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
fully depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks represents quoted shares held for trading measured at original transaction cost.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
STARETON INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
2021
Number
Number
Total
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
564
Disposals
(564)
At 30 June 2022
Depreciation and impairment
At 1 April 2021
564
Eliminated in respect of disposals
(564)
At 30 June 2022
Carrying amount
At 30 June 2022
At 31 March 2021
4
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
329
Other creditors
754
1,682
1,083
1,682