Company Registration No. 13028984 (England and Wales)
Starwatcher Ltd
Unaudited financial statements
For the period ended 31 March 2023
Pages for filing with registrar
STARWATCHER LTD
Starwatcher Ltd
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
STARWATCHER LTD
Starwatcher Ltd
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,316
-
0
Current assets
Debtors
5
1,180,489
-
0
Cash at bank and in hand
177,728
1
1,358,217
1
Creditors: amounts falling due within one year
6
(67,808)
-
0
Net current assets
1,290,409
1
Net assets
1,305,725
1
Capital and reserves
Called up share capital
7
100
1
Share premium account
8
1,666,618
-
0
Profit and loss reserves
(360,993)
-
0
Total equity
1,305,725
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 March 2024 and are signed on its behalf by:
N J Coleman
Director
Company Registration No. 13028984
STARWATCHER LTD
Starwatcher Ltd
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 18 November 2020
-
0
-
0
-
0
-
0
Period ended 30 November 2021:
Profit and total comprehensive income for the period
-
-
-
0
-
0
Issue of share capital
7
1
-
0
-
1
Balance at 30 November 2021
1
-
0
-
0
1
Period ended 31 March 2023:
Loss and total comprehensive income for the period
-
-
(360,993)
(360,993)
Issue of share capital
7
99
1,666,618
-
1,666,717
Balance at 31 March 2023
100
1,666,618
(360,993)
1,305,725
STARWATCHER LTD
Starwatcher Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Starwatcher Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 55, Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company was formerly dormant to the period ended 30 November 2021. The company commenced trading on 01 December 2021.

 

The accounts are for a period of 16 Months from December 2021 to March 2023 and are not comparable to the prior dormant accounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

STARWATCHER LTD
Starwatcher Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

STARWATCHER LTD
Starwatcher Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2021
Number
Number
Total
2
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021
-
0
Additions
16,921
At 31 March 2023
16,921
Depreciation and impairment
At 1 December 2021
-
0
Depreciation charged in the period
1,605
At 31 March 2023
1,605
Carrying amount
At 31 March 2023
15,316
At 30 November 2021
-
0
5
Debtors
2023
2021
Amounts falling due within one year:
£
£
Other debtors
1,180,489
-
0
STARWATCHER LTD
Starwatcher Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
26,833
-
0
Taxation and social security
8,812
-
0
Other creditors
32,163
-
0
67,808
-
0
7
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.001p each
100,000
1,000
100
1

On 04 August 2022, a further 99,000 shares at £0.001 each were allotted to a total of 100,000 shares at a value of £100.

8
Share premium account
2023
2021
£
£
At the beginning of the period
-
0
-
0
Issue of new shares
1,666,618
-
0
At the end of the period
1,666,618
-
0
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