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REGISTERED NUMBER: 00956278 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STARRAG UK LIMITED

STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


STARRAG UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G R Eller
S Pittet



SECRETARY: P Whistance



REGISTERED OFFICE: 43 Phoenix Park
Avenue Close
Nechells
Birmingham
West Midlands
B7 4NU



REGISTERED NUMBER: 00956278 (England and Wales)



AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ



BANKERS: Natwest Bank Plc
169 Victoria Street
London
SW1E 5NA

STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 193,709 216,370

CURRENT ASSETS
Debtors 5 2,778,823 2,790,358
Cash at bank and in hand 1,728,420 579,013
4,507,243 3,369,371
CREDITORS
Amounts falling due within one year 6 1,914,172 922,434
NET CURRENT ASSETS 2,593,071 2,446,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,786,780

2,663,307

CAPITAL AND RESERVES
Called up share capital 8 1,000,000 1,000,000
Retained earnings 1,786,780 1,663,307
SHAREHOLDERS' FUNDS 2,786,780 2,663,307

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:





G R Eller - Director


STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Starrag UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost and 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.


STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid and received under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 39 ) .

STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 254,932 254,602 9,700 519,234
Additions - 10,792 - 10,792
At 31 December 2023 254,932 265,394 9,700 530,026
DEPRECIATION
At 1 January 2023 93,981 199,183 9,700 302,864
Charge for year 11,514 21,939 - 33,453
At 31 December 2023 105,495 221,122 9,700 336,317
NET BOOK VALUE
At 31 December 2023 149,437 44,272 - 193,709
At 31 December 2022 160,951 55,419 - 216,370

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 586,394 1,594,876
Provision for doubtful debts (24,170 ) (95,813 )
Amounts owed by group undertakings 1,503,198 1,079,889
Other debtors 3,904 3,904
VAT Debtor 489,215 -
Prepayments and accrued income 220,282 207,502
2,778,823 2,790,358

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 80,880 95,481
Amounts owed to group undertakings 1,439,675 231,029
Tax 43,002 122,457
Social security and other taxes 78,705 68,576
VAT 97,802 141,631
Accruals and deferred income 174,108 263,260
1,914,172 922,434

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 45,632 128,081
Between one and five years 91,263 69,158
136,895 197,239

STARRAG UK LIMITED (REGISTERED NUMBER: 00956278)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. LEASING AGREEMENTS - continued

Minimum lease receipts under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 22,000 22,000
Between one and five years 16,500 38,500
38,500 60,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,525 Ordinary Shares £1000 1,000,000 1,000,000

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

The Report of the Auditors was unqualified.

Robyn Liddell (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Related Party Disclosure, not to disclose related party transactions or balances with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Starrag Group Holdings Limited, a company registered in England and Wales.

The ultimate controlling party is Starrag Group Holding AG, a company registered in Switzerland.

The largest and smallest group in to which the company's results are consolidated is Starrag Group Holding AG. A copy of the group accounts can be obtained from Starrag Group Holding AG, whose registered office is Seebleichestrasse 6, 9404 Rorschacherberg, Switzerland.