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Company registration number: 05206801
Allstar Signings Limited
Unaudited abridged financial statements
31 December 2023
Allstar Signings Limited
Contents
Directors and other information
Directors report
Abridged statement of comprehensive income
Abridged statement of financial position
Notes to the financial statements
Allstar Signings Limited
Directors and other information
Directors Mr A Kersh
Mrs E Kersh
Mr L Kersh
Mrs F Kersh
Secretary Mrs F Kersh
Company number 05206801
Registered office Ground Floor Albert Works
Water Street
Radcliffe
Manchester
M26 4DF
Accountants Warents Feingold & Co
349 Bury Old Road
Prestwich
Manchester
M25 1PY
Allstar Signings Limited
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
Mr A Kersh
Mrs E Kersh
Mr L Kersh
Mrs F Kersh
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 19 August 2024 and signed on behalf of the board by:
Mr A Kersh Mr L Kersh
Director Director
Allstar Signings Limited
Abridged statement of comprehensive income
Year ended 31 December 2023
2023 2022
Note £ £
Gross profit 1,395,039 1,329,057
Administrative expenses ( 309,249) ( 297,060)
_______ _______
Operating profit 1,085,790 1,031,997
Other interest receivable and similar income 6,740 1,212
_______ _______
Profit before taxation 4 1,092,530 1,033,209
Tax on profit ( 265,138) ( 196,412)
_______ _______
Profit for the financial year and total comprehensive income 827,392 836,797
_______ _______
All the activities of the company are from continuing operations.
Allstar Signings Limited
Abridged statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 10,723 2,939
_______ _______
10,723 2,939
Current assets
Stocks 1,900,000 1,150,000
Debtors 192,669 78,286
Cash at bank and in hand 1,020,308 1,133,591
_______ _______
3,112,977 2,361,877
Creditors: amounts falling due
within one year ( 358,690) ( 292,198)
_______ _______
Net current assets 2,754,287 2,069,679
_______ _______
Total assets less current liabilities 2,765,010 2,072,618
_______ _______
Net assets 2,765,010 2,072,618
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,764,910 2,072,518
_______ _______
Shareholders funds 2,765,010 2,072,618
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge 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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
Mr A Kersh Mr L Kersh
Director Director
Company registration number: 05206801
Allstar Signings Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor Albert Works, Water Street, Radcliffe, Manchester, M26 4DF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible assets 867 519
_______ _______
5. Tangible assets
£
Cost
At 1 January 2023 23,572
Additions 8,651
_______
At 31 December 2023 32,223
_______
Depreciation
At 1 January 2023 20,633
Charge for the year 867
_______
At 31 December 2023 21,500
_______
Carrying amount
At 31 December 2023 10,723
_______
At 31 December 2022 2,939
_______
6. Controlling party
The company was controlled throughout the year by the directors by virtue of them owning all the company's share capital.