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REGISTERED NUMBER: 05351519 (England and Wales)












Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Star House Financial Services Limited

Star House Financial Services Limited (Registered number: 05351519)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Star House Financial Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D A Watkins
A O Woolcott





REGISTERED OFFICE: Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW





BUSINESS ADDRESS: Vinery Corner
Harford Square
Chew Magna
BS40 8RD





REGISTERED NUMBER: 05351519 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

Star House Financial Services Limited (Registered number: 05351519)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D A Watkins
A O Woolcott

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D A Watkins - Director


2 February 2024

Star House Financial Services Limited (Registered number: 05351519)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 14,539 21,460
14,539 21,460

CURRENT ASSETS
Debtors 6 15,494 14,725
Cash at bank and in hand 301,559 290,272
317,053 304,997
CREDITORS
Amounts falling due within one year 7 77,017 68,403
NET CURRENT ASSETS 240,036 236,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,575

258,054

PROVISIONS FOR LIABILITIES 3,024 3,502
NET ASSETS 251,551 254,552

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 251,451 254,452
SHAREHOLDERS' FUNDS 251,551 254,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Star House Financial Services Limited (Registered number: 05351519)

Statement of Financial Position - continued
31 December 2023


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 Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:




D A Watkins - Director



A O Woolcott - Director


Star House Financial Services Limited (Registered number: 05351519)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Star House Financial Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Income is included on an accruals basis where the company considers it has a right to receive commission at the balance sheet date but has not reached a point whereby payment has been received.

Goodwill
Goodwill has been amortised in equal annual instalments over its useful economic life and was written off in full in the year ended 31 December 2017.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line over the life of the lease
Fixtures and fittings - 20% on cost
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Star House Financial Services Limited (Registered number: 05351519)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 140,000
AMORTISATION
At 1 January 2023
and 31 December 2023 140,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 69,330 27,129 29,102 125,561
Additions 2,665 1,103 2,724 6,492
Disposals (480 ) (5,390 ) (45 ) (5,915 )
At 31 December 2023 71,515 22,842 31,781 126,138
DEPRECIATION
At 1 January 2023 62,865 25,912 15,324 104,101
Charge for year 1,892 740 10,367 12,999
Eliminated on disposal (96 ) (5,390 ) (15 ) (5,501 )
At 31 December 2023 64,661 21,262 25,676 111,599
NET BOOK VALUE
At 31 December 2023 6,854 1,580 6,105 14,539
At 31 December 2022 6,465 1,217 13,778 21,460

Star House Financial Services Limited (Registered number: 05351519)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 15,494 13,550
Other debtors - 1,175
15,494 14,725

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 70,882 62,584
Other creditors 6,135 5,819
77,017 68,403

8. LEASING AGREEMENTS
The minimum lease payments falling due in respect of operating leases at 31 December 2023 is £182,543 (2022 £38,082).

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

A debenture exists with a fixed and floating charge over this company's assets in relation to a loan facility advanced to this company's parent company, Andromeda Wealth Limited with a 10 year repayment term.

11. RELATED PARTY DISCLOSURES

Andromeda Wealth Limited owns 100% of this company's share capital. Dividends of £177,500 were paid (2022 £172,500).