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REGISTERED NUMBER: 04066267 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

QUANTUM STAR LIMITED

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUANTUM STAR LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: Mr J Saxon





SECRETARY: Mr J Saxon





REGISTERED OFFICE: Hoof Hall, Old Cross
Ripponden Road
Denshaw
Oldham
Lancashire
OL3 5UN





REGISTERED NUMBER: 04066267 (England and Wales)





ACCOUNTANTS: Moss and Williamson Limited
Chartered Accountants
11 Stamford Street
Stalybridge
Cheshire
SK15 1JP

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 60 234
Investments 7 200 200
Investment property 8 1,740,000 1,740,000
1,740,261 1,740,435

CURRENT ASSETS
Debtors 9 428,170 417,935
Cash at bank 13,910 52,495
442,080 470,430
CREDITORS
Amounts falling due within one year 10 59,333 48,756
NET CURRENT ASSETS 382,747 421,674
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,123,008

2,162,109

CREDITORS
Amounts falling due after more than one
year

11

740,029

749,645
NET ASSETS 1,382,979 1,412,464

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,797,440 1,797,440
Revaluation reserve 13 822,043 822,043
Retained earnings (1,236,604 ) (1,207,119 )
SHAREHOLDERS' FUNDS 1,382,979 1,412,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

BALANCE SHEET - continued
31 October 2023


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 29 July 2024 and were signed by:





Mr J Saxon - Director


QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Quantum Star Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property Rights are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Intellectual
Property
Goodwill Rights Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 20,000 1 20,001
AMORTISATION
At 1 November 2022
and 31 October 2023 20,000 - 20,000
NET BOOK VALUE
At 31 October 2023 - 1 1
At 31 October 2022 - 1 1

6. TANGIBLE FIXED ASSETS
Improvements
to Computer
property Equipment equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 37,808 500 1,980 40,288
DEPRECIATION
At 1 November 2022 37,655 499 1,900 40,054
Charge for year 153 1 20 174
At 31 October 2023 37,808 500 1,920 40,228
NET BOOK VALUE
At 31 October 2023 - - 60 60
At 31 October 2022 153 1 80 234

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 November 2022
and 31 October 2023 200
NET BOOK VALUE
At 31 October 2023 200
At 31 October 2022 200

Cost or valuation at 31 October 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2022 200

The company holds the whole issued ordinary share capital of Izz Bo Limited and Blanshard 22 Ltd.

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 1,740,000
NET BOOK VALUE
At 31 October 2023 1,740,000
At 31 October 2022 1,740,000

The historical cost of freehold investment property amounts to £917,957 giving a valuation excess of £822,043 as held in the revaluation reserve.

At 31 October 2023, it is the opinion of the director that the open-market value of investment properties is £1,740,000.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 1,740,000

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 428,170 417,935

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 9,893 12,716
Other creditors 39,440 26,040
59,333 48,756

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 740,029 749,645

12. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 750,029 759,645

The company's financier's have charges over St Edmunds Cottage, Padstow and 4 Ruthy's Lane, Padstow.

13. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 822,043

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr J Saxon
Balance outstanding at start of year 70,741 63,540
Amounts advanced 25,900 13,013
Amounts repaid (1,407 ) (5,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,234 70,741

The loan executed 6 April 2012 is interest free and repayable on demand.

QUANTUM STAR LIMITED (REGISTERED NUMBER: 04066267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

15. RELATED PARTY DISCLOSURES

RELATED PARTY TRANSACTIONS

There were no material related party transactions requiring disclosure.