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COMPANY REGISTRATION NUMBER: 04591377
Starlington UK Limited
Filleted Unaudited Financial Statements
Year ended
30 April 2023
Starlington UK Limited
Financial Statements
Year ended 30 April 2023
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Accounting policies
4 to 5
Notes to the financial statements
6 to 7
Starlington UK Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Starlington UK Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Starlington UK Limited for the year ended 30 April 2023, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
21 November 2023
Starlington UK Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Investments
4
1,400,100
1,400,100
Current assets
Debtors
5
55,401
133,321
Cash at bank and in hand
37,258
4,348
--------
---------
92,659
137,669
Creditors: amounts falling due within one year
6
187,831
176,637
---------
---------
Net current liabilities
95,172
38,968
------------
------------
Total assets less current liabilities
1,304,928
1,361,132
Creditors: amounts falling due after more than one year
7
12,538
141,526
------------
------------
Net assets
1,292,390
1,219,606
------------
------------
Capital and reserves
Called up share capital
100
100
Fair value reserve
65,000
65,000
Capital redemption reserve
100
100
Profit and loss account
1,227,190
1,154,406
------------
------------
Shareholders funds
1,292,390
1,219,606
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Starlington UK Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 21 November 2023 , and are signed on behalf of the board by:
Mr S W Heywood
Director
Company registration number: 04591377
Starlington UK Limited
Accounting Policies
Year ended 30 April 2023
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 Section 1A.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received, excluding VAT and other sales taxes or duty. Rental income arising from freehold property is recognised for on a straight line basis over the term of the lease.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Starlington UK Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Communication House, Victoria Avenue, Camberley, Surrey, GU15 3HX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Tangible assets
Fixtures and fittings
£
Cost
At 1 May 2022 and 30 April 2023
80,000
--------
Depreciation
At 1 May 2022 and 30 April 2023
80,000
--------
Carrying amount
At 30 April 2023
--------
At 30 April 2022
--------
4. Investments
Shares in group undertakings
Freehold property
Total
£
£
£
Cost
At 1 May 2022 and 30 April 2023
100
1,400,000
1,400,100
----
------------
------------
Impairment
At 1 May 2022 and 30 April 2023
----
------------
------------
Carrying amount
At 30 April 2023
100
1,400,000
1,400,100
----
------------
------------
At 30 April 2022
100
1,400,000
1,400,100
----
------------
------------
The freehold property has been valued by the directors at its open market value.
5. Debtors
2023
2022
£
£
Trade debtors
25,315
43,235
Amounts owed by group undertakings and undertakings in which the company has a participating interest
15,000
Other debtors
15,086
90,086
--------
---------
55,401
133,321
--------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
58,662
65,000
Trade creditors
25,000
24,999
Amounts owed to group undertakings and undertakings in which the company has a participating interest
20,000
Social security and other taxes
17,345
14,814
Other creditors
86,824
51,824
---------
---------
187,831
176,637
---------
---------
The company has granted both fixed and floating charges on it's assets to secure the bank loans.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,538
141,526
--------
---------
The company has granted both fixed and floating charges on it's assets to secure the bank loans.
The mortgages have fixed repayment terms until February 2024.
8. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.