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REGISTERED NUMBER: 01713293 (England and Wales)














Financial Statements

for the Year Ended 31 May 2024

for

STARDUST LEISURE LIMITED

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STARDUST LEISURE LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J A Crole
L J Crole


SECRETARY: J A Crole


REGISTERED OFFICE: 5 Eastern Promenade
Porthcawl
Mid Glamorgan
CF36 5TS


REGISTERED NUMBER: 01713293 (England and Wales)


SENIOR STATUTORY
AUDITOR:
Stephen Cox


AUDITORS: Hayvenhursts Limited
Chartered Accountants &
Statutory Auditor
Fairway House
Links Business Park
St Mellons, Cardiff
CF3 OLT


BANKERS: Barclays Bank Plc
Bridgend Business Centre
PO Box 53
36 Dunraven Place
Bridgend
CF31 1YB


SOLICITORS: Hutchinson Thomas
Solicitors & Notaries Public
19 London Road
Neath
SA11 1LF

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,058,504 2,007,178
Investments 6 1,683,375 -
3,741,879 2,007,178

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 7 137,570 99,392
Cash at bank and in hand 1,437,933 3,368,938
1,585,503 3,478,330
CREDITORS
Amounts falling due within one year 8 (431,703 ) (603,724 )
NET CURRENT ASSETS 1,153,800 2,874,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,895,679

4,881,784

CREDITORS
Amounts falling due after more than
one year

9

(110,779

)

(130,510

)

PROVISIONS FOR LIABILITIES 11 (150,647 ) (140,577 )
NET ASSETS 4,634,253 4,610,697

CAPITAL AND RESERVES
Called up share capital 12 500,862 500,862
Share premium 13 84,876 84,876
Other reserves 13 52,710 52,710
Retained earnings 13 3,995,805 3,972,249
SHAREHOLDERS' FUNDS 4,634,253 4,610,697

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Balance Sheet - 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 20 September 2024 and were signed on its behalf by:





J A Crole - Director


STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Stardust Leisure 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Turnover
From 1 February 2013 onwards, Machine Gaming Duty was introduced, and as such the majority of the company's turnover is no longer within the scope of value added tax, however there is still a small amount of turnover where value added tax remains applicable, this turnover is shown excluding value added tax.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Depreciation is not provided on leasehold and freehold buildings contrary to Financial Reporting Standard No. 15 'Tangible Fixed Assets'. The directors are of the opinion that depreciation of these assets would be inappropriate since the residual values are estimated to be not less than their purchase prices but the amounts involved are not considered to be material.

Properties are maintained to ensure that their value does not diminish over time. The maintenance costs are charged to profit and loss in the year incurred.

Legal and professional costs incurred in a successful application for planning permission are included in the cost of the property involved since the directors consider the value of the property to be enhanced by the obtaining of planning permission.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment properties
Investment properties are revalued annually by the directors or professional advisers in accordance with SSAP 19 and the aggregate surplus or deficit where appropriate is transferred to the investment revaluation reserve. No depreciation is provided in respect of these properties, this is a departure from FRS 15 which requires that assets be depreciated over their estimated useful lives and is necessary for the accounts to show a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quanitified.

Assets leased out
Assets under rental agreements are included in tangible fixed assets and depreciated over their useful lives. Rental income from operating leases included in profit and loss as incurred over the period set out by the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 55 ).

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 1,239,389 4,393,455 3,678 45,157 5,681,679
Additions - 197,317 2,484 - 199,801
Disposals - (12,000 ) - - (12,000 )
At 31 May 2024 1,239,389 4,578,772 6,162 45,157 5,869,480
DEPRECIATION
At 1 June 2023 - 3,644,017 552 29,932 3,674,501
Charge for year - 141,693 841 3,805 146,339
Eliminated on disposal - (9,864 ) - - (9,864 )
At 31 May 2024 - 3,775,846 1,393 33,737 3,810,976
NET BOOK VALUE
At 31 May 2024 1,239,389 802,926 4,769 11,420 2,058,504
At 31 May 2023 1,239,389 749,438 3,126 15,225 2,007,178

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1989 52,710 - - - 52,710
Cost 1,186,679 4,578,772 6,162 45,157 5,816,770
1,239,389 4,578,772 6,162 45,157 5,869,480

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1,683,375
At 31 May 2024 1,683,375
NET BOOK VALUE
At 31 May 2024 1,683,375

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Grandspan Limited
Registered office: Fairway House, Links Business Park, St Mellons, Cardiff. CF3 0LT
Nature of business: Amusement caterers
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,389,011 1,363,445
Profit for the year 25,566 78,101

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,500 2,500
Other debtors 2,229 2,229
Prepayments and accrued income 132,841 94,663
137,570 99,392

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 65,146 83,488
Tax 8,905 93,291
Social security and other taxes 179,356 175,725
Other creditors 71,713 131,328
Accrued expenses 106,583 119,892
431,703 603,724

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Directors current accounts 110,779 130,510

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 113,000 -
Between one and five years 345,000 129,000
In more than five years - 405,000
458,000 534,000

11. PROVISIONS FOR LIABILITIES

No provision has been made in respect of deferred taxation in respect of revalued properties at 31 May 2024 (2023 - nil), because in the opinion of the directors a liability is unlikely to crystallise in the foreseeable future.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500,142 Ordinary A £1 500,142 500,142
20 Ordinary B £1 20 20
700 Ordinary C £1 700 700
500,862 500,862

13. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 June 2023 3,972,249 84,876 52,710 4,109,835
Profit for the year 80,556 80,556
Dividends (57,000 ) (57,000 )
At 31 May 2024 3,995,805 84,876 52,710 4,133,391

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Cox (Senior Statutory Auditor)
for and on behalf of Hayvenhursts Limited

STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 May 2024 an amount of £110,779 (2023 - £130,510) was due to the directors.

These creditors are included in Creditors - Amounts falling due after more than one year.


L J Crole's wife, Mrs L Crole, and son M A Crole are partners in Harbour Games.

J A Crole's and L J Crole's sister Mrs G Judd is the proprietor of Sunspot Sites.

J A Crole and L J Crole's wife are the partners in Easybowl.

J A Crole's wife, Mrs A L Crole is the proprietor of Driving Games.

L J Crole and J A Crole's wife are partners in Newquay Coin.

J A Crole is a director in the company Crole Properties Limited.

JA Crole is also a director of the subsidiary company Grandspan Limited

16. RELATED PARTY DISCLOSURES

During the year the company has entered into transactions with related businesses and companies, in the normal course of trading as follows:

Amounts receivable:


Licence Prizes Leasing Management Recharged
recharge fees expenses
Harbour Games 10,000 3,720 4,865 820 -
Driving Games 10,000 4,320 4,166 820 -
Newquay Coin 10,000 5,760 4,838 820 -
Sunspot Sites 10,000 3,480 2,325 820 -
Easybowl 10,000 3,600 2,876 820 -
Grandspan Limited - - - 10,700
---------- ---------- ---------- ------- ----------
£50,000 20,880 £19,070 £4,100 £10,700
======= ====== ======= ====== =======

Amounts payable:

Rents

Crole Properties Limited 67,279
Stardust Leisure Limited
Pension Fund

38,735

----------
£106,014
=======


STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is jointly held by the directors' of the company and Mrs G Judd.