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REGISTERED NUMBER: 12237205 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Limitless Star Limited

Limitless Star Limited (Registered number: 12237205)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Limitless Star Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Ms C E B Tilbury





REGISTERED OFFICE: 7 Savoy Court
London
WC2R 0EX





REGISTERED NUMBER: 12237205 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Limitless Star Limited (Registered number: 12237205)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,887 7,769
Investments 5 1 1
5,888 7,770

CURRENT ASSETS
Debtors 6 345,695 1,572,128
Cash at bank 322,441 255,995
668,136 1,828,123
CREDITORS
Amounts falling due within one year 7 456,049 1,548,071
NET CURRENT ASSETS 212,087 280,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

217,975

287,822

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 217,974 287,821
SHAREHOLDERS' FUNDS 217,975 287,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 30 October 2023 and were signed by:




Ms C E B Tilbury - Director


Limitless Star Limited (Registered number: 12237205)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Limitless Star Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Savoy Court, London, WC2R 0EX.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised on a straight line basis over the length of the contracts which have been agreed. For services which have not yet been delivered but have been paid for, the associated revenue is deferred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.3% straight line

Limitless Star Limited (Registered number: 12237205)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

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 statement of financial position 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 o settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Limitless Star Limited (Registered number: 12237205)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 1,801 9,047 10,848
Additions 941 1,263 2,204
At 31 December 2022 2,742 10,310 13,052
DEPRECIATION
At 1 January 2022 343 2,736 3,079
Charge for year 684 3,402 4,086
At 31 December 2022 1,027 6,138 7,165
NET BOOK VALUE
At 31 December 2022 1,715 4,172 5,887
At 31 December 2021 1,458 6,311 7,769

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2022
and 31 December 2022 1
NET BOOK VALUE
At 31 December 2022 1
At 31 December 2021 1

Limitless Star Limited (Registered number: 12237205)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 48,044 1,429,443
Other debtors 297,651 142,685
345,695 1,572,128

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 22,998 144,670
Taxation and social security 8,034 46,250
Other creditors 425,017 1,357,151
456,049 1,548,071

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1 Ordinary 1 1 1

9. RELATED PARTY DISCLOSURES

At 31 December 2022 Limitless Star Limited was owed £34,881 (2021: £1,251,62) from Universal Superstar LLP (Formerly Stella Potentia LLP), £nil (2021: £59,543) from Magic Household Limited and £34,881 (2021: £76,651) from CEBT Consultancy Limited.

At 31 December 2022 Limitless Star Limited owed to Charlotte Tilbury 2020 Settlement £1,479 (2021: owed from £1,491).

Charlotte Tilbury is a partner of Universal Superstar LLP, and a person with significant control in Magic Household Limited and CEBT Consultancy Limited. Charlotte Tilbury is also the trustee and settlor of the Charlotte Tilbury 2020 Settlement.

At 31 December 2022 Limitless Star Limited owed £421,038 (2021: £1,353,151) to the Director.

During the year, Universal Superstar LLP (Formerly Stella Potentia LLP) recharged £nil (2021: £930,850) in relation to the sale of services.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Limitless Star Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Limitless Star Limited for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet 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 director of Limitless Star Limited in accordance with the terms of our engagement letter dated 7 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Limitless Star Limited and state those matters that we have agreed to state to the director of Limitless Star Limited 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 Limitless Star Limited and its director for our work or for this report.

It is your duty to ensure that Limitless Star 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 loss of Limitless Star Limited. You consider that Limitless Star 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 Limitless Star 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


30 October 2023