Company registration number 12362575 (England and Wales)
STAR 20 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
STAR 20 LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STAR 20 LIMITED (REGISTERED NUMBER: 12362575)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,682
8,910
Current assets
Debtors
4
1,071
14,496
Cash at bank and in hand
158
3,843
1,229
18,339
Creditors: amounts falling due within one year
5
(42,381)
(27,987)
Net current liabilities
(41,152)
(9,648)
Total assets less current liabilities
(34,470)
(738)
Creditors: amounts falling due after more than one year
6
(22,147)
(25,625)
Net liabilities
(56,617)
(26,363)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(56,618)
(26,364)
Total equity
(56,617)
(26,363)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
STAR 20 LIMITED (REGISTERED NUMBER: 12362575)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 July 2024
L Gill
Director
STAR 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Star 20 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria also must be met before turnover is recognised.
Turnover for the sale of goods is recognised when all of the following conditions are met: |
- The company has transferred the significant risks and rewards of ownership to the buyer; |
- the amount of turnover can be recognised reliably and; |
- It is probable that the company will receive the consideration due under the transaction. |
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measure reliably.
- It is probable that the company will receive the consideration under the contract.
-The stage of completion of the contract at the end of the reporting period can be measure reliably; and
- The costs incurred and the costs to complete the contract can be measure reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
STAR 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
- No depreciation provided
Fixtures and fittings
- 25% on Straight Line
Computers
- 25% on Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
7
STAR 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
7,600
1,990
9,590
Additions
7,600
7,600
Disposals
(7,600)
(7,600)
At 31 December 2023
7,600
1,990
9,590
Depreciation and impairment
At 1 January 2023
680
680
Depreciation charged in the year
1,900
328
2,228
At 31 December 2023
1,900
1,008
2,908
Carrying amount
At 31 December 2023
5,700
982
6,682
At 31 December 2022
7,600
1,310
8,910
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,376
Other debtors
1,071
13,120
1,071
14,496
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,853
Trade creditors
1,194
228
Taxation and social security
30,756
22,528
Other creditors
7,578
5,231
42,381
27,987
STAR 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,147
25,625
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1
1
1
1
8
Financial commitments, guarantees and contingent liabilities
Included within Loans is an amount of £25,000 (PY: £25,625) borrowed as part of the CBIL scheme in 2020.
The initial amount borrowed was £37,500 and as part of the loan scheme the UK government Guaranteed the advance and paid the interest and fees due for the first 12 months.
The loan now attracts an interest rate of 2.50%