Company Registration No. 11833769 (England and Wales)
Starwerks Limited
Unaudited accounts
for the year ended 28 February 2023
Starwerks Limited
Unaudited accounts
Contents
Starwerks Limited
Company Information
for the year ended 28 February 2023
Directors
Mr Stuart Newcombe
Mr Dario Sanandres
Company Number
11833769 (England and Wales)
Registered Office
Unit 3, Brentworks
Catherine Wheel Road
Brentford
Middlesex
TW8 8BD
United Kingdom
Accountants
Daniel Consultancy
Morritt House
54-60 Station Approach
South Ruislip
Ruislip
HA4 6SA
Starwerks Limited
Accountants' report
Accountants' report to the board of directors of Starwerks Limited on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Starwerks Limited for the year ended
28 February 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Starwerks Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Starwerks Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Starwerks Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Starwerks Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Starwerks Limited. You consider that Starwerks 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 accounts of Starwerks 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 accounts.
Daniel Consultancy
Morritt House
54-60 Station Approach
South Ruislip
Ruislip
HA4 6SA
9 November 2023
Starwerks Limited
Statement of financial position
as at 28 February 2023
Tangible assets
8,953
7,539
Cash at bank and in hand
59,901
51,357
Creditors: amounts falling due within one year
(36,611)
(24,729)
Net current assets
35,251
38,636
Total assets less current liabilities
44,204
46,175
Creditors: amounts falling due after more than one year
(34,006)
(43,689)
Called up share capital
100
100
Profit and loss account
10,098
2,386
Shareholders' funds
10,198
2,486
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by
Mr Stuart Newcombe
Director
Company Registration No. 11833769
Starwerks Limited
Notes to the Accounts
for the year ended 28 February 2023
Starwerks Limited is a private company, limited by shares, registered in England and Wales, registration number 11833769. The registered office is Unit 3, Brentworks, Catherine Wheel Road, Brentford, Middlesex, TW8 8BD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Starwerks Limited
Notes to the Accounts
for the year ended 28 February 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2022
5,314
11,370
16,684
At 28 February 2023
9,333
11,370
20,703
At 1 March 2022
3,021
6,124
9,145
Charge for the year
1,294
1,311
2,605
At 28 February 2023
4,315
7,435
11,750
At 28 February 2023
5,018
3,935
8,953
At 28 February 2022
2,293
5,246
7,539
Amounts falling due within one year
Accrued income and prepayments
4,449
6,233
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
6,236
11,251
Taxes and social security
6,811
4,249
Loans from directors
19,282
6,268
Included above is a loan of £19,282 (2022- £6,268) from Dario Sanandres and Stuart Newcombe, the company directors.
7
Creditors: amounts falling due after more than one year
2023
2022
Starwerks Limited
Notes to the Accounts
for the year ended 28 February 2023
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).