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Company Registration No. 03966018 (England and Wales)
STAR AUTOS LIMITED Unaudited accounts for the year ended 28 February 2023
STAR AUTOS LIMITED Unaudited accounts Contents
Page
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STAR AUTOS LIMITED Company Information for the year ended 28 February 2023
Director
Mr Simon Peter Mills
Company Number
03966018 (England and Wales)
Registered Office
Unit 4, Pimhole Business Park Pimhole Road Bury Lancashire BL9 7ET UK
Accountants
Eighty Twenty Business Limited Bluebells Grane Road Haslingden Lancashire BB4 4AT
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STAR AUTOS LIMITED Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,259,361 
1,281,390 
Current assets
Inventories
19,300 
- 
Debtors
296,465 
289,752 
Cash at bank and in hand
242,766 
258,121 
558,531 
547,873 
Creditors: amounts falling due within one year
(304,771)
(399,765)
Net current assets
253,760 
148,108 
Total assets less current liabilities
1,513,121 
1,429,498 
Creditors: amounts falling due after more than one year
(220,869)
(262,849)
Net assets
1,292,252 
1,166,649 
Capital and reserves
Called up share capital
6,000 
6,000 
Capital redemption reserve
(191,000)
(191,000)
Profit and loss account
1,477,252 
1,351,649 
Shareholders' funds
1,292,252 
1,166,649 
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 director acknowledges his 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 and authorised for issue on 7 September 2023 and were signed on its behalf by
Mr Simon Peter Mills Director Company Registration No. 03966018
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STAR AUTOS LIMITED Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
STAR AUTOS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03966018. The registered office is Unit 4, Pimhole Business Park, Pimhole Road, Bury, Lancashire, BL9 7ET, UK.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 and services is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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
10% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
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.
Pension costs
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.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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STAR AUTOS LIMITED Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
90,000 
At 28 February 2023
90,000 
Amortisation
At 1 March 2022
90,000 
At 28 February 2023
90,000 
Net book value
At 28 February 2023
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
1,766,130 
195,178 
75,850 
2,037,158 
Additions
336,550 
59,000 
- 
395,550 
Disposals
(538,575)
(22,660)
- 
(561,235)
At 28 February 2023
1,564,105 
231,518 
75,850 
1,871,473 
Depreciation
At 1 March 2022
644,789 
56,748 
54,231 
755,768 
Charge for the year
127,044 
31,864 
5,405 
164,313 
On disposals
(290,150)
(17,819)
- 
(307,969)
At 28 February 2023
481,683 
70,793 
59,636 
612,112 
Net book value
At 28 February 2023
1,082,422 
160,725 
16,214 
1,259,361 
At 28 February 2022
1,121,341 
138,430 
21,619 
1,281,390 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
296,465 
289,433 
Other debtors
- 
319 
296,465 
289,752 
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STAR AUTOS LIMITED Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
45,691 
28,480 
Obligations under finance leases and hire purchase contracts
113,719 
163,136 
Trade creditors
78,624 
177,832 
Taxes and social security
27,639 
34,088 
Loans from directors
18,698 
(3,771)
Accruals
20,400 
- 
304,771 
399,765 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
220,869 
262,849 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
3,600 Ordinary 'A' Shares of £1 each
3,600 
3,600 
2,400 Ordinary 'B' Shares of £1 each
2,400 
2,400 
6,000 
6,000 
10
Average number of employees
During the year the average number of employees was 14 (2022: 15).
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