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REGISTERED NUMBER: SC291356 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VAULTSTAR LIMITED

VAULTSTAR LIMITED (REGISTERED NUMBER: SC291356)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

VAULTSTAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: David Gowans





REGISTERED OFFICE: c/o D M McNaught & Co Ltd
166 Buchanan Street
Glasgow
G1 2LW





REGISTERED NUMBER: SC291356 (Scotland)





ACCOUNTANTS: D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW

VAULTSTAR LIMITED (REGISTERED NUMBER: SC291356)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,387 1,849
Investments 5 5,075 5,105
6,462 6,954

CURRENT ASSETS
Debtors 6 168,510 49,882
Cash at bank 2,912 3,961
171,422 53,843
CREDITORS
Amounts falling due within one year 7 116,440 38,534
NET CURRENT ASSETS 54,982 15,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,444

22,263

CAPITAL AND RESERVES
Called up share capital 10,800 10,800
Retained earnings 50,644 11,463
SHAREHOLDERS' FUNDS 61,444 22,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 4 April 2024 and were signed by:



David Gowans - Director


VAULTSTAR LIMITED (REGISTERED NUMBER: SC291356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Vaultstar Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 1 (2023 - 1 ) .

VAULTSTAR LIMITED (REGISTERED NUMBER: SC291356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 3,409
DEPRECIATION
At 1 April 2023 1,560
Charge for year 462
At 31 March 2024 2,022
NET BOOK VALUE
At 31 March 2024 1,387
At 31 March 2023 1,849

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 5,105
Disposals (30 )
At 31 March 2024 5,075
NET BOOK VALUE
At 31 March 2024 5,075
At 31 March 2023 5,105

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 168,510 49,882

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,005 1,800
Taxation and social security 5,222 -
Other creditors 110,213 36,734
116,440 38,534

VAULTSTAR LIMITED (REGISTERED NUMBER: SC291356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £168,510 (2023 - £35,500) owed by Global Whisky Limited. This is in respect of a loan provided, which is repayable on demand and no interest is charged.

Mr D Gowans is a director and shareholder in Global Whisky Limited.

Included in income from fixed asset investments is an amount of £89,000 (2023 - £29,500) received from Status Network Solutions Ltd. This is in respect of dividends received.

Vaultstar Limited has a non-controlling shareholding in Status Network Solutions Ltd and Mr D Gowans is a director.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is David Gowans.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VAULTSTAR LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vaultstar Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Vaultstar Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vaultstar Limited and state those matters that we have agreed to state to the director of Vaultstar Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Vaultstar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vaultstar Limited. You consider that Vaultstar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vaultstar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW


4 April 2024