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No description of principal activities is disclosed
2022-10-01
Sage Accounts Production 23.0 - FRS102_2023
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xbrli:shares
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10375714
2022-10-01
2023-09-30
10375714
2023-09-30
10375714
2022-09-30
10375714
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2022-09-30
10375714
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10375714
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10375714
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10375714
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10375714
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10375714
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10375714
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Company registration number:
10375714
People-Star Limited
Unaudited filleted financial statements
30 September 2023
People-Star Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
People-Star Limited
Directors and other information
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Director |
J S Daly |
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Company number |
10375714 |
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Registered office |
11 Gossmore Walk |
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Marlow |
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Bucks |
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SL7 1QZ |
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Accountants |
Pink Affinity Limited |
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People-Star Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of People-Star Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of People-Star Limited for the year ended 30 September 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of People-Star Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of People-Star Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than People-Star Limited and its director as a body for our work or for this report.
It is your duty to ensure that People-Star 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 People-Star Limited. You consider that People-Star 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 People-Star 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.
Pink Affinity Limited
People-Star Limited
Statement of financial position
30 September 2023
|
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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|
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|
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|
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|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
5 |
194,715 |
|
|
|
2,876 |
|
|
Cash at bank and in hand |
|
|
139,618 |
|
|
|
183,415 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
334,333 |
|
|
|
186,291 |
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|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
333,937) |
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|
|
(
132,615) |
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|
|
|
|
_______ |
|
|
|
_______ |
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Net current assets |
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|
396 |
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53,676 |
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|
|
|
_______ |
|
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|
_______ |
Total assets less current liabilities |
|
|
|
|
396 |
|
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53,676 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
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|
_______ |
Net assets |
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|
396 |
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|
53,676 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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4 |
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2 |
Profit and loss account |
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|
392 |
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53,674 |
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|
_______ |
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_______ |
Shareholders funds |
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|
396 |
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53,676 |
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_______ |
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_______ |
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For the year ending 30 September 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 105 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 July 2024
, and are signed on behalf of the board by:
J S Daly
Director
Company registration number:
10375714
People-Star Limited
Statement of changes in equity
Year ended 30 September 2023
|
|
Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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|
|
|
|
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At 1 October 2021 |
|
2 |
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110,723 |
110,725 |
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Profit for the year |
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247,951 |
247,951 |
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|
_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
|
- |
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247,951 |
247,951 |
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|
|
|
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Dividends paid and payable |
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|
|
(
305,000) |
(
305,000) |
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|
|
|
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_______ |
|
_______ |
_______ |
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Total investments by and distributions to owners |
|
- |
|
(
305,000) |
(
305,000) |
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|
|
|
|
|
|
|
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|
|
|
|
|
|
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|
_______ |
|
_______ |
_______ |
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At 30 September 2022 and 1 October 2022 |
|
2 |
|
53,674 |
53,676 |
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|
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Profit for the year |
|
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|
251,718 |
251,718 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
|
- |
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251,718 |
251,718 |
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Issue of shares |
|
2 |
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2 |
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Dividends paid and payable |
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|
(
305,000) |
(
305,000) |
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|
|
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|
_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
2 |
|
(
305,000) |
(
304,998) |
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_______ |
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_______ |
_______ |
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At 30 September 2023 |
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4 |
|
392 |
396 |
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_______ |
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_______ |
_______ |
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People-Star Limited
Notes to the financial statements
Year ended 30 September 2023
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 11 Gossmore Walk, Marlow, Bucks, SL7 1QZ.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
4.
Tax on profit
Major components of tax expense
|
|
|
2023 |
2022 |
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|
£ |
£ |
|
Current tax: |
|
|
|
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UK current tax expense |
|
71,032 |
58,198 |
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|
|
_______ |
_______ |
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Tax on profit |
|
71,032 |
58,198 |
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|
|
_______ |
_______ |
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Reconciliation of tax expense
The tax assessed on the profit for the year is lower than (2022: higher than) the
standard rate of corporation tax in the UK
of
25.00
% (2022: 19.00%).
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Profit before taxation |
|
322,750 |
306,149 |
|
|
|
_______ |
_______ |
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|
|
|
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Profit multiplied by rate of tax |
|
80,688 |
58,168 |
|
Effect of expenses not deductible for tax purposes |
|
- |
30 |
|
Effect of different UK tax rates on some earnings |
|
(9,656) |
- |
|
|
|
_______ |
_______ |
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Tax on profit |
|
71,032 |
58,198 |
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|
_______ |
_______ |
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5.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
194,715 |
2,876 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Corporation tax |
|
173,495 |
102,463 |
|
Social security and other taxes |
|
1,942 |
27,652 |
|
Other creditors |
|
158,500 |
2,500 |
|
|
|
_______ |
_______ |
|
|
|
333,937 |
132,615 |
|
|
|
_______ |
_______ |
|
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|
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|
7.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2023 |
|
|
|
|
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Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
J S Daly |
2,876 |
191,839 |
194,715 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
J S Daly |
898 |
1,978 |
2,876 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
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