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REGISTERED NUMBER: 02022197 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 May 2024

for

STARQUOTE LIMITED

STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STARQUOTE LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P Fotiou
Mrs A Fotiou
Dr H Fotiou
A Fotiou
Mrs K Ho



SECRETARY: Mrs A Fotiou



REGISTERED OFFICE: 573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



REGISTERED NUMBER: 02022197 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: HSBC
63-64 St Andrews Street
Cambridge
Cambridgeshire
CB2 3BZ

STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 138 173
Investment property 6 400,000 1,330,000
400,138 1,330,173

CURRENT ASSETS
Debtors 7 291,267 460,740
Investments 8 540 429
Cash at bank 765,569 456,672
1,057,376 917,841
CREDITORS
Amounts falling due within one year 9 474,466 648,293
NET CURRENT ASSETS 582,910 269,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

983,048

1,599,721

PROVISIONS FOR LIABILITIES - 62,768
NET ASSETS 983,048 1,536,953

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 124,943 817,078
Retained earnings 858,005 719,775
983,048 1,536,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)

Statement of Financial Position - continued
31 May 2024


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 Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:





P Fotiou - Director


STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Starquote 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. ACCOUNTING POLICIES

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

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.

Patents and licences 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.
Plant and machinery etc - 20% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 3,500
AMORTISATION
At 1 June 2023
and 31 May 2024 3,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 1,242
DEPRECIATION
At 1 June 2023 1,069
Charge for year 35
At 31 May 2024 1,104
NET BOOK VALUE
At 31 May 2024 138
At 31 May 2023 173

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,330,000
Disposals (237,754 )
Revaluations (692,246 )
At 31 May 2024 400,000
NET BOOK VALUE
At 31 May 2024 400,000
At 31 May 2023 1,330,000

STARQUOTE LIMITED (REGISTERED NUMBER: 02022197)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2001 184,060
Valuation in 2006 110,000
Valuation in 2016 204,031
Valuation in 2024 (300,000 )
Cost 201,909
400,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 291,267 460,740

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 540 429

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2 2
Taxation and social security 14,572 13,680
Other creditors 459,892 634,611
474,466 648,293

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 817,078
Movement during the year (692,135 )

At 31 May 2024 124,943