REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
STARDUST LEISURE LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants & |
Statutory Auditor |
Fairway House |
Links Business Park |
St Mellons, Cardiff |
CF3 OLT |
BANKERS: |
Bridgend Business Centre |
PO Box 53 |
36 Dunraven Place |
Bridgend |
CF31 1YB |
SOLICITORS: |
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 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Other reserves | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
STARDUST LEISURE LIMITED (REGISTERED NUMBER: 01713293) |
Balance Sheet - continued |
31 MAY 2024 |
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 |
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 |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Motor vehicles | - |
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 - |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
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 |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
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: |
Registered office: Fairway House, Links Business Park, St Mellons, Cardiff. CF3 0LT |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
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 |
Between one and five years |
In more than five years |
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: | £ | £ |
Ordinary A | £1 | 500,142 | 500,142 |
Ordinary B | £1 | 20 | 20 |
Ordinary C | £1 | 700 | 700 |
500,862 | 500,862 |
13. | RESERVES |
Retained | Share | Other |
earnings | premium | reserves | Totals |
£ | £ | £ | £ |
At 1 June 2023 | 4,109,835 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 May 2024 | 4,133,391 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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 |