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REGISTERED NUMBER: 09763962 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Keystar Holdings Limited

Keystar Holdings Limited (Registered number: 09763962)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Keystar Holdings Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: A J Starkey
Mrs D Starkey





SECRETARY: Mrs D Starkey





REGISTERED OFFICE: Unit 3 Mount Street Business Park
Nechells
Birmingham
England
B7 5QU





REGISTERED NUMBER: 09763962 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Keystar Holdings Limited (Registered number: 09763962)

Balance Sheet
30 April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 122,171 148,615
Investments 5 100 100
122,271 148,715

CURRENT ASSETS
Debtors 6 406 28
Cash at bank 6,635 4,420
7,041 4,448
CREDITORS
Amounts falling due within one year 7 (33,697 ) (49,353 )
NET CURRENT LIABILITIES (26,656 ) (44,905 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,615

103,810

CREDITORS
Amounts falling due after more than one
year

8

-

(4,125

)

PROVISIONS FOR LIABILITIES 9 (30,500 ) (28,000 )
NET ASSETS 65,115 71,685

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,015 71,585
SHAREHOLDERS' FUNDS 65,115 71,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Keystar Holdings Limited (Registered number: 09763962)

Balance Sheet - continued
30 April 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2023 and were signed on its behalf by:





A J Starkey - Director


Keystar Holdings Limited (Registered number: 09763962)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Keystar Holdings Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Keystar Holdings Limited (Registered number: 09763962)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2022 345,306
Disposals (14,000 )
At 30 April 2023 331,306
DEPRECIATION
At 1 May 2022 196,691
Charge for year 21,560
Eliminated on disposal (9,116 )
At 30 April 2023 209,135
NET BOOK VALUE
At 30 April 2023 122,171
At 30 April 2022 148,615

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 137,500
DEPRECIATION
At 1 May 2022 65,724
Charge for year 10,766
At 30 April 2023 76,490
NET BOOK VALUE
At 30 April 2023 61,010
At 30 April 2022 71,776

Keystar Holdings Limited (Registered number: 09763962)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 100
NET BOOK VALUE
At 30 April 2023 100
At 30 April 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 406 28

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,125 24,750
Amounts owed to group undertakings 8,842 1,206
Taxation and social security 17,208 15,724
Other creditors 3,522 7,673
33,697 49,353

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 4,125

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 30,500 28,000

Deferred
tax
£   
Balance at 1 May 2022 28,000
Provided during year 2,500
Balance at 30 April 2023 30,500

Keystar Holdings Limited (Registered number: 09763962)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

10. RELATED PARTY DISCLOSURES

Willstar Precision Engineering Limited
A wholly owned subsidiary company

Plant and machinery rental received from subsidiary £52,667 (2022 - £52,667)
Dividends received from subsidiary £15,000 (2022 - £nil)


2023 2022
£ £

Amount due (to) / from the related party at the balance sheet date(8,842)(1,206)

The amount owing to Willstar Precision Engineering Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Willstar Precision Engineering Limited have been given their assurance that the amount payable will not be demanded until such time as Keystar Holdings Limited can afford to do so without detriment to its operating and working capital needs.


AJ & Mrs D Starkey
Directors and shareholders

Dividends paid to directors £34,200 (2022 - £19,025)

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Keystar Holdings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keystar Holdings Limited for the year ended 30 April 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Keystar Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Keystar Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Keystar Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keystar Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Keystar Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keystar Holdings Limited. You consider that Keystar Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Keystar Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


8 August 2023