Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-011falseInvestment property1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12517044 2022-04-01 2023-03-31 12517044 2021-04-01 2022-03-31 12517044 2023-03-31 12517044 2022-03-31 12517044 c:Director1 2022-04-01 2023-03-31 12517044 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 12517044 d:FreeholdInvestmentProperty 2023-03-31 12517044 d:FreeholdInvestmentProperty 2022-03-31 12517044 d:CurrentFinancialInstruments 2023-03-31 12517044 d:CurrentFinancialInstruments 2022-03-31 12517044 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12517044 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12517044 d:ShareCapital 2023-03-31 12517044 d:ShareCapital 2022-03-31 12517044 d:RetainedEarningsAccumulatedLosses 2023-03-31 12517044 d:RetainedEarningsAccumulatedLosses 2022-03-31 12517044 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12517044 c:OrdinaryShareClass1 2023-03-31 12517044 c:OrdinaryShareClass1 2022-03-31 12517044 c:FRS102 2022-04-01 2023-03-31 12517044 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12517044 c:FullAccounts 2022-04-01 2023-03-31 12517044 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12517044









BLACKSTAR INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BLACKSTAR INVESTMENTS LTD
REGISTERED NUMBER: 12517044

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
2,080,317
1,082,142

  
2,080,317
1,082,142

Current assets
  

Debtors: amounts falling due within one year
 5 
7,500
9,026

Cash at bank and in hand
 6 
35,782
87,808

  
43,282
96,834

Creditors: amounts falling due within one year
 7 
(1,969,073)
(1,111,817)

Net current liabilities
  
 
 
(1,925,791)
 
 
(1,014,983)

Total assets less current liabilities
  
154,526
67,159

  

Net assets
  
154,526
67,159


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
154,525
67,158

  
154,526
67,159


Page 1

 
BLACKSTAR INVESTMENTS LTD
REGISTERED NUMBER: 12517044
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2023.




J Crosby
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Blackstar Investments Limited is a private company, limited by shares, incorporated in England and Wales, registration number 12517044. The registered office address is Haslers, Old Station Road, Loughton, Essex, IG10 4PL.
 
The principal activity of the company is property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 value.

 
2.7

Creditors

Short-term 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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the
Page 4

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,082,142


Additions at cost
998,175



At 31 March 2023
2,080,317

The 2023 valuations were made by the director, on an open market value for existing use basis.


 




Page 6

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
7,500
9,026

7,500
9,026



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,782
87,808

35,782
87,808



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
100

Corporation tax
20,493
11,140

Other taxation and social security
2,772
-

Other creditors
1,911,612
1,077,184

Accruals and deferred income
34,196
23,393

1,969,073
1,111,817



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


Page 7

 
BLACKSTAR INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Related party transactions

At the year end, the following interest free loans were due to related parties. 


2023
2022
£
£

Key management personnel
1,911,612
1,077,185

 
Page 8