Registered number
09223085
NORTHSTAR CONVERSIONS LIMITED
Filleted Accounts
31 March 2023
NORTHSTAR CONVERSIONS LIMITED
Registered number: 09223085
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,303 5,466
Current assets
Stocks 96,250 120,050
Debtors 4 813 813
Cash at bank and in hand 204,883 246,463
301,946 367,326
Creditors: amounts falling due within one year 5 (64,639) (109,253)
Net current assets 237,307 258,073
Total assets less current liabilities 241,610 263,539
Provisions for liabilities (818) (2,556)
Net assets 240,792 260,983
Capital and reserves
Called up share capital 100 100
Profit and loss account 240,692 260,883
Shareholder's funds 240,792 260,983
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR A COOMBE
Director
Approved by the board on 7 December 2023
NORTHSTAR CONVERSIONS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment Straight line over 3 years
Plant and machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,816 12,980 7,995 24,791
At 31 March 2023 3,816 13,251 7,995 25,062
Depreciation
At 1 April 2022 3,816 8,012 7,497 19,325
Charge for the year - 348 1,086 1,434
At 31 March 2023 3,816 8,360 8,583 20,759
Net book value
At 31 March 2023 - 4,891 (588) 4,303
At 31 March 2022 - 4,968 498 5,466
4 Debtors 2023 2022
£ £
Trade debtors -
Other debtors 813 813
813 813
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,913 24,170
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 13,500
Taxation and social security costs 30,173 50,430
Other creditors 21,553 21,153
64,639 109,253
6 Other information
NORTHSTAR CONVERSIONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Main Building
Prospect Road
Cowes
Isle of Wight
PO31 7AD
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