Registered number
05870584
Astarian Enterprises Ltd
Filleted Accounts
31 July 2023
CLH Accounting
Masons Business Centre
159a Wellgate
Rotherham
South Yorkshire
S60 2NN
Astarian Enterprises Ltd
Registered number: 05870584
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 21,328 28,181
Current assets
Debtors 4 12,867 20,646
Cash at bank and in hand 38,858 28,966
51,725 49,612
Creditors: amounts falling due within one year 5 (28,658) (45,778)
Net current assets 23,067 3,834
Total assets less current liabilities 44,395 32,015
Creditors: amounts falling due after more than one year 6 (15,733) (21,067)
Provisions for liabilities (3,407) (4,234)
Net assets 25,255 6,714
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 24,255 5,714
Shareholders' funds 25,255 6,714
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Ward
Director
Approved by the board on 31 October 2023
Astarian Enterprises Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance method
Motor vehicles 25% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 2,821 35,000 37,821
At 31 July 2023 2,821 35,000 37,821
Depreciation
At 1 August 2022 890 8,750 9,640
Charge for the year 291 6,562 6,853
At 31 July 2023 1,181 15,312 16,493
Net book value
At 31 July 2023 1,640 19,688 21,328
At 31 July 2022 1,931 26,250 28,181
4 Debtors 2023 2022
£ £
Other debtors 12,867 20,646
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,667 -
Taxation and social security costs 9,281 3,304
Other creditors 16,710 42,474
28,658 45,778
Bank Loan is a Bounce Back Loan secured by the Government
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,733 21,067
Bank Loan is a Bounce Back Loan secured by the Government
7 Controlling party
Mr I and Mrs J Ward are the ultimate controlling parties by virtue of a 50/50 shareholding in the company.
8 Other information
Astarian Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
29 McKenzie Way
Sheffield
South Yorkshire
S26 6QN
Astarian Enterprises Ltd 05870584 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 J Ward No description of principal activity 05870584 2021-08-01 2022-07-31 05870584 core:WithinOneYear 2022-07-31 05870584 core:AfterOneYear 2022-07-31 05870584 core:ShareCapital 2022-07-31 05870584 core:RetainedEarningsAccumulatedLosses 2022-07-31 05870584 2022-08-01 2023-07-31 05870584 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05870584 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05870584 bus:Director40 2022-08-01 2023-07-31 05870584 1 2022-08-01 2023-07-31 05870584 2 2022-08-01 2023-07-31 05870584 core:PlantMachinery 2022-08-01 2023-07-31 05870584 core:Vehicles 2022-08-01 2023-07-31 05870584 countries:England 2022-08-01 2023-07-31 05870584 bus:FRS102 2022-08-01 2023-07-31 05870584 bus:FullAccounts 2022-08-01 2023-07-31 05870584 2023-07-31 05870584 core:WithinOneYear 2023-07-31 05870584 core:AfterOneYear 2023-07-31 05870584 core:ShareCapital 2023-07-31 05870584 core:RetainedEarningsAccumulatedLosses 2023-07-31 05870584 core:PlantMachinery 2023-07-31 05870584 core:Vehicles 2023-07-31 05870584 2022-07-31 05870584 core:PlantMachinery 2022-07-31 05870584 core:Vehicles 2022-07-31 iso4217:GBP xbrli:pure