Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31trueNo description of principal activity2023-02-01false6968trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02501267 2023-02-01 2024-01-31 02501267 2022-02-01 2023-01-31 02501267 2024-01-31 02501267 2023-01-31 02501267 2022-02-01 02501267 c:Director3 2023-02-01 2024-01-31 02501267 d:Buildings 2023-02-01 2024-01-31 02501267 d:Buildings 2024-01-31 02501267 d:Buildings 2023-01-31 02501267 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 02501267 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 02501267 d:PlantMachinery 2023-02-01 2024-01-31 02501267 d:PlantMachinery 2024-01-31 02501267 d:PlantMachinery 2023-01-31 02501267 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 02501267 d:MotorVehicles 2023-02-01 2024-01-31 02501267 d:FurnitureFittings 2023-02-01 2024-01-31 02501267 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 02501267 d:Goodwill 2024-01-31 02501267 d:Goodwill 2023-01-31 02501267 d:CurrentFinancialInstruments 2024-01-31 02501267 d:CurrentFinancialInstruments 2023-01-31 02501267 d:Non-currentFinancialInstruments 2024-01-31 02501267 d:Non-currentFinancialInstruments 2023-01-31 02501267 d:Non-currentFinancialInstruments 1 2024-01-31 02501267 d:Non-currentFinancialInstruments 1 2023-01-31 02501267 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 02501267 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02501267 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 02501267 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 02501267 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 02501267 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 02501267 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 02501267 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 02501267 d:UKTax 2023-02-01 2024-01-31 02501267 d:UKTax 2022-02-01 2023-01-31 02501267 d:ShareCapital 2024-01-31 02501267 d:ShareCapital 2023-01-31 02501267 d:SharePremium 2024-01-31 02501267 d:SharePremium 2023-01-31 02501267 d:RevaluationReserve 2024-01-31 02501267 d:RevaluationReserve 2023-01-31 02501267 d:RetainedEarningsAccumulatedLosses 2024-01-31 02501267 d:RetainedEarningsAccumulatedLosses 2023-01-31 02501267 c:OrdinaryShareClass1 2023-02-01 2024-01-31 02501267 c:OrdinaryShareClass1 2024-01-31 02501267 c:OrdinaryShareClass1 2023-01-31 02501267 c:PreferenceShareClass1 2023-02-01 2024-01-31 02501267 c:PreferenceShareClass1 2024-01-31 02501267 c:PreferenceShareClass1 2023-01-31 02501267 c:FRS102 2023-02-01 2024-01-31 02501267 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 02501267 c:FullAccounts 2023-02-01 2024-01-31 02501267 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02501267 d:WithinOneYear 2024-01-31 02501267 d:WithinOneYear 2023-01-31 02501267 d:BetweenOneFiveYears 2024-01-31 02501267 d:BetweenOneFiveYears 2023-01-31 02501267 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 02501267 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 02501267 d:HirePurchaseContracts d:BetweenOneTwoYears 2024-01-31 02501267 d:HirePurchaseContracts d:BetweenOneTwoYears 2023-01-31 02501267 2 2023-02-01 2024-01-31 02501267 5 2023-02-01 2024-01-31 02501267 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 02501267 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 02501267 d:RetirementBenefitObligationsDeferredTax 2024-01-31 02501267 d:RetirementBenefitObligationsDeferredTax 2023-01-31 02501267 d:OtherDeferredTax 2024-01-31 02501267 d:OtherDeferredTax 2023-01-31 02501267 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 02501267 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 02501267 d:LeasedAssetsHeldAsLessee 2024-01-31 02501267 d:LeasedAssetsHeldAsLessee 2023-01-31 02501267 4 2024-01-31 02501267 4 2023-01-31 02501267 f:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02501267










STARLINGS OF SHERINGHAM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
STARLINGS OF SHERINGHAM LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 14


 
STARLINGS OF SHERINGHAM LIMITED
REGISTERED NUMBER: 02501267

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
903,200
877,857

Investments
 7 
4,000
4,000

  
907,200
881,857

Current assets
  

Stocks
  
586,474
643,694

Debtors: amounts falling due within one year
 8 
116,668
99,804

Cash at bank and in hand
  
538,377
660,727

  
1,241,519
1,404,225

Creditors: amounts falling due within one year
 9 
(549,925)
(691,735)

Net current assets
  
 
 
691,594
 
 
712,490

Total assets less current liabilities
  
1,598,794
1,594,347

Creditors: amounts falling due after more than one year
 10 
(365,985)
(401,231)

Provisions for liabilities
  

Deferred tax
 13 
(113,845)
(105,041)

  
 
 
(113,845)
 
 
(105,041)

Net assets
  
1,118,964
1,088,075


Capital and reserves
  

Called up share capital 
 14 
100,000
100,000

Share premium account
  
292,392
292,392

Revaluation reserve
  
435,405
441,780

Profit and loss account
  
291,167
253,903

  
1,118,964
1,088,075


Page 1

 
STARLINGS OF SHERINGHAM LIMITED
REGISTERED NUMBER: 02501267
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J D W Starling
Director

Date: 19 August 2024

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Starlings Of Sheringham Limited is a private company limited by shares and incorporated in England and Wales, registration number 02501267. The registered office is 10 Wrights Walk, Dereham, Norfolk, NR19 1TR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistantly applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Page 3

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as follows: 

Depreciation is provided on the following basis:

Freehold property
-
2% straight line method
Leasehold land and buildings
-
Over term of lease
Motor vehicles
-
25% reducing balance method
Office equipment
-
15% reducing balance method

 
2.12

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 69 (2023 - 68).

Page 6

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
5,308
17,404


5,308
17,404


Total current tax
5,308
17,404

Deferred tax


Origination and reversal of timing differences
8,804
18,637

Total deferred tax
8,804
18,637


Taxation on profit on ordinary activities
14,112
36,041

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2023 - 19%). The deferred tax charge has been calculated at a rate of 25% (2023 - 25%).


Page 7

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
132,242



At 31 January 2024

132,242



Amortisation


At 1 February 2023
132,242



At 31 January 2024

132,242



Net book value



At 31 January 2024
-



At 31 January 2023
-



Page 8

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Tangible fixed assets





Land and property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 February 2023
987,177
243,266
1,230,443


Additions
-
101,356
101,356


Disposals
-
(27,950)
(27,950)



At 31 January 2024

987,177
316,672
1,303,849



Depreciation


At 1 February 2023
259,271
93,315
352,586


Charge for the year on owned assets
15,022
40,029
55,051


Disposals
-
(6,988)
(6,988)



At 31 January 2024

274,293
126,356
400,649



Net book value



At 31 January 2024
712,884
190,316
903,200



At 31 January 2023
727,906
149,951
877,857

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
8,989
11,986

8,989
11,986

Page 9

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Fixed asset investments





Trade investments

£





At 1 February 2023
4,000






Net book value



At 31 January 2024
4,000



At 31 January 2023
4,000


8.


Debtors

2024
2023
£
£


Trade debtors
29,742
35,752

Prepayments and accrued income
86,926
64,052

116,668
99,804



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,367
28,695

Trade creditors
270,547
354,379

Corporation tax
5,308
17,404

Other taxation and social security
176,688
150,439

Obligations under finance lease and hire purchase contracts
1,079
6,476

Other creditors
23,990
43,383

Accruals and deferred income
39,946
90,959

549,925
691,735


Page 10

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
215,985
250,152

Net obligations under finance leases and hire purchase contracts
-
1,079

Preference share capital treated as debt
150,000
150,000

365,985
401,231



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
32,367
28,695


32,367
28,695


Amounts falling due 2-5 years

Bank loans
191,555
196,669


191,555
196,669

Amounts falling due after more than 5 years

Bank loans
24,430
53,483

24,430
53,483

248,352
278,847


The bank loans are mostly secured on the freehold property on the company as well as a debenture.

Page 11

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Hire purchase and finance leases


2024
2023
£
£


Within one year
1,079
6,476

Between 1-2 years
-
1,079

1,079
7,555


13.


Deferred taxation




2024
2023


£

£






At beginning of year
(105,041)
(86,404)


Charged to profit or loss
(8,804)
(18,637)



At end of year
(113,845)
(105,041)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(49,210)
(40,389)

Pension surplus
214
196

Revaluation
(64,849)
(64,848)

(113,845)
(105,041)

Page 12

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

14.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £1.00 each
100,000
100,000

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



150,000 (2023 - 5,000) Preference shares of £1.00 each
150,000
150,000



15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,124 (2023 - £13,701). Contributions totalling £2,092 (2023 - £1,833) were payable to the fund at the reporting date and are included in creditors.


16.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
229,385
218,925

Later than 1 year and not later than 5 years
316,167
586,477

545,552
805,402


17.Other financial commitments

At 31 January 2023 the Company had future other financial commitments of £nil (2023 - £nil)

Page 13

 
STARLINGS OF SHERINGHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

18.


Related party transactions

At the year end, the directors were owed £1,597 (2023 - £29,699) which is repayable on demand. 
Within creditors falling due after more than one year is £150,000 (2023 - £150,000) in respect of redeemable preference shares, owned by the directors/family of the directors. 

 
Page 14