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5 Star North East Ltd
Registered Number:10908864
For the year ended 31 July 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2023
5 Star North East Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
10908864
As at 31 July 2023
5 Star North East Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
27,812
5,353
2
27,812
5,353
Current assets
Inventories
28,000
36,800
3
Trade and other receivables
10,666
-
4
22,562
Cash and cash equivalents
5,049
41,849
61,228
Trade and other payables: amounts falling due within one year
(20,829)
(47,159)
5
40,399
(5,310)
Net current liabilities
Total assets less current liabilities
22,502
45,752
Trade and other payables: amounts falling due after more than
one year
(28,750)
(22,500)
6
2
Net assets
17,002
Capital and reserves
Called up share capital
2
2
Retained earnings
-
17,000
2
17,002
Shareholders' funds
For the year ended 31 July 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 of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Metin Yardim Director
Mr Mustafa Yardim Director
These financial statements were approved and authorised for issue by the Board on 05 January 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2023
5 Star North East Ltd
Notes to the Financial Statements
Statutory Information
5 Star North East Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
10908864.
Registered address:
248 Westgate Road
Newcastle upon Tyne
NE4 6AQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
25% Straight line
33% Straight line
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2 of 4
5
For the year ended 31 July 2023
5 Star North East Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor Vehicles
Plant and
Machinery
£
£
£
Cost or valuation
At 01 August 2022
32,125
11,150
20,975
34,765
34,765
-
Additions
At 31 July 2023
20,975
45,915
66,890
Provision for depreciation and impairment
At 01 August 2022
26,772
11,040
15,732
Charge for year
12,306
7,063
5,243
At 31 July 2023
39,078
18,103
20,975
At 31 July 2023
Net book value
-
27,812
27,812
At 31 July 2022
5,243
110
5,353
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any
provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less
their estimated residual value, over their expected useful lives on the following basis:
3. Inventories
2022
2023
£
£
Stocks
36,800
28,000
4. Trade and other receivables
2022
2023
£
£
Other debtors
-
10,666
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
8,184
16,000
Taxation and social security
5,305
4,670
Other creditors
33,670
159
47,159
20,829
3 of 4
6
For the year ended 31 July 2023
5 Star North East Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
22,500
28,750
7. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
4 of 4