Krystal Star Creations Limited 05482187 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is provision of educational support services. Digita Accounts Production Advanced 6.30.9574.0 true true 05482187 2022-07-01 2023-06-30 05482187 2023-06-30 05482187 bus:Original 2023-06-30 05482187 core:CurrentFinancialInstruments 2023-06-30 05482187 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05482187 bus:SmallEntities 2022-07-01 2023-06-30 05482187 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05482187 bus:FullAccounts 2022-07-01 2023-06-30 05482187 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05482187 bus:Director1 2022-07-01 2023-06-30 05482187 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05482187 countries:England 2022-07-01 2023-06-30 05482187 2021-07-01 2022-06-30 05482187 2022-06-30 05482187 core:CurrentFinancialInstruments 2022-06-30 05482187 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 05482187

Krystal Star Creations Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Krystal Star Creations Limited

(Registration number: 05482187)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

3

25,108

25,129

Creditors: Amounts falling due within one year

4

(34,335)

(33,676)

Net liabilities

 

(9,227)

(8,547)

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

(9,229)

(8,549)

Shareholders' deficit

 

(9,227)

(8,547)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 30 January 2024
 

.........................................
Christof Melchizedek
Director

 

Krystal Star Creations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Krystal Star Creations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Krystal Star Creations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Debtors

Current

2023
£

2022
£

Other debtors

25,108

25,129

 

25,108

25,129

4

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

33,722

33,063

Accruals and deferred income

613

613

34,335

33,676

 

Krystal Star Creations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2