Registered number
13308272
Stareton Ltd
Report and Accounts
30 April 2023
Stareton Ltd
Company Information
Director
Ms Manjit Kaur
Registered office
78 York Street,
London,
W1H 1DP
Registered number
13308272
Stareton Ltd
Registered number: 13308272
Director's Report
The director presents her report and accounts for the year ended 30 April 2023.
Principal activities
The company's principal activity during the year continued to be wholesale of meat, meat products, fruits, vegetable juices, mineral water, soft drinks, sugar, chocolate and sugar confectionery etc.
Directors
The following persons served as directors during the year:
Ms Manjit Kaur
Director's responsibilities
The director is responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the director to prepare accounts for each financial year. Under that law the director has elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the accounts comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 12 April 2024 and signed on its behalf.
Ms Manjit Kaur
Director
Stareton Ltd
Profit and Loss Account
for the year ended 30 April 2023
2023 2022
£ £
Turnover 6,862,578 6,453,769
Cost of sales (5,580,241) (5,341,930)
Gross profit 1,282,337 1,111,839
Administrative expenses (735,618) (606,928)
Operating profit 546,719 504,911
Profit before taxation 546,719 504,911
Tax on profit (38,917) (72,173)
Profit for the financial year 507,802 432,738
Stareton Ltd
Registered number: 13308272
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 547,727 174,838
Current assets
Stocks 115,467 89,754
Debtors 4 52,791 43,713
Cash at bank and in hand 199,906 226,891
368,164 360,358
Creditors: amounts falling due within one year 5 (60,251) (102,358)
Net current assets 307,913 258,000
Net assets 855,640 432,838
Capital and reserves
Called up share capital 100 100
Profit and loss account 855,540 432,738
Shareholders' funds 855,640 432,838
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ms Manjit Kaur
Director
Approved by the board on 12 April 2024
Stareton Ltd
Statement of Changes in Equity
for the year ended 30 April 2023
Share Profit Total
capital and loss
account
£ £ £
At 1 April 2021 - - -
Profit for the period 432,738 432,738
Shares issued 100 100
At 30 April 2022 100 432,738 432,838
At 1 May 2022 100 432,738 432,838
Profit for the financial year 507,802 507,802
Dividends (85,000) (85,000)
At 30 April 2023 100 855,540 855,640
Stareton Ltd
Notes to the Accounts
for the year ended 30 April 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Motor vehicles over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 157,832 60,715 218,547
Additions 489,753 30,995 520,748
At 30 April 2023 647,585 91,710 739,295
Depreciation
At 1 May 2022 31,566 12,143 43,709
Charge for the year 129,517 18,342 147,859
At 30 April 2023 161,083 30,485 191,568
Net book value
At 30 April 2023 486,502 61,225 547,727
At 30 April 2022 126,266 48,572 174,838
4 Debtors 2023 2022
£ £
Trade debtors 52,791 43,713
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 21,334 30,185
Taxation and social security costs 38,917 72,173
60,251 102,358
6 Other information
Stareton Ltd is a private company limited by shares and incorporated in England. Its registered office is:
78 York Street,
London,
W1H 1DP
Stareton Ltd 13308272 false 2022-05-01 2023-04-30 2023-04-30 VT Final Accounts October 2023 release 2 13308272 2021-04-01 2022-04-30 13308272 core:ShareCapital 2021-04-01 2022-04-30 13308272 core:WithinOneYear 2022-04-30 13308272 core:ShareCapital 2022-04-30 13308272 core:RetainedEarningsAccumulatedLosses 2022-04-30 13308272 2021-03-31 13308272 core:ShareCapital 2021-03-31 13308272 core:RetainedEarningsAccumulatedLosses 2021-03-31 13308272 2022-05-01 2023-04-30 13308272 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13308272 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13308272 bus:Director1 2022-05-01 2023-04-30 13308272 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 13308272 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 13308272 1 2022-05-01 2023-04-30 13308272 2 2022-05-01 2023-04-30 13308272 core:PlantMachinery 2022-05-01 2023-04-30 13308272 core:Vehicles 2022-05-01 2023-04-30 13308272 countries:England 2022-05-01 2023-04-30 13308272 bus:FRS102 2022-05-01 2023-04-30 13308272 bus:FullAccounts 2022-05-01 2023-04-30 13308272 2023-04-30 13308272 core:WithinOneYear 2023-04-30 13308272 core:ShareCapital 2023-04-30 13308272 core:RetainedEarningsAccumulatedLosses 2023-04-30 13308272 core:PlantMachinery 2023-04-30 13308272 core:Vehicles 2023-04-30 13308272 2022-04-30 13308272 core:PlantMachinery 2022-04-30 13308272 core:Vehicles 2022-04-30 iso4217:GBP xbrli:pure