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REGISTERED NUMBER: 14929472 (England and Wales)















Financial Statements for the Period 12 June 2023 to 31 December 2023

for

Greatstar United Kingdom Ltd

Greatstar United Kingdom Ltd (Registered number: 14929472)






Contents of the Financial Statements
for the Period 12 June 2023 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Greatstar United Kingdom Ltd

Company Information
for the Period 12 June 2023 to 31 December 2023







DIRECTORS: L A Cansfield
J Qiu
F Qiu
X Chi





REGISTERED OFFICE: Scruffs Workwear Ltd,
Unit 14/15 Lufton Heights Commerce Park
Boundary Way
Yeovil
Somerset
BA22 8UY





REGISTERED NUMBER: 14929472 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

Greatstar United Kingdom Ltd (Registered number: 14929472)

Balance Sheet
31 December 2023

Notes £    £   
FIXED ASSETS
Investments 4 100

CURRENT ASSETS
Debtors 5 15,501,000
Cash at bank 39,809,290
55,310,290
CREDITORS
Amounts falling due within one year 6 55,089,922
NET CURRENT ASSETS 220,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,468

CAPITAL AND RESERVES
Called up share capital 200
Retained earnings 220,268
220,468

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 25 September 2024 and were signed on its behalf by:





L A Cansfield - Director


Greatstar United Kingdom Ltd (Registered number: 14929472)

Notes to the Financial Statements
for the Period 12 June 2023 to 31 December 2023

1. STATUTORY INFORMATION

Greatstar United Kingdom Ltd 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.

Going concern
The company is an investment holding company and has considerable cash reserve, based on these, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of financial statements as an individual company
The financial statements contain information about Greatstar United Kingdom Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment losses.

Financial instruments
Financial assets at amortised cost
The company’s financial assets measured at amortised cost comprise trade and other debtors and cash and cash equivalents in the balance sheet. Cash and cash equivalents includes cash in hand, deposits held at call with banks.

Financial liabilities
The company does not have any liabilities held for trading nor does it voluntarily classify any financial liabilities as being at fair value through profit or loss.

Trade creditors and other short-term monetary liabilities, which are initially recognised at fair value and are subsequently carried at amortised cost using the effective interest method.

Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.


Greatstar United Kingdom Ltd (Registered number: 14929472)

Notes to the Financial Statements - continued
for the Period 12 June 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

Interest income
Interest income is recognised using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100

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

Scruffs Workwear Ltd
Registered office: Unit 14/15 Lufton Heights Commerce Park, Boundary Way, Yeovil, Somerset, England, BA22 8UY
Nature of business: Wholesale of clothing and footwear
%
Class of shares: holding
ordinary share 100.00

Greatstar United Kingdom Ltd (Registered number: 14929472)

Notes to the Financial Statements - continued
for the Period 12 June 2023 to 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 15,501,000

The amounts owed by group undertakings are unsecured, interest free, without a fixed date of repayment and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to group undertakings 55,000,000
Taxation and social security 73,422
Other creditors 16,500
55,089,922

The amounts owed to group undertakings are unsecured, interest free, without a fixed date of repayment and repayable on demand.

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

The Report of the Auditors was unqualified.

Nijendra Dhungana (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is Hangzhou GreatStar Industrial Co. Ltd, a company incorporated and registered in China.

The smallest undertaking for which the company is a member and for which group financial statements are prepared is Hangzhou GreatStar Industrial Co. Ltd. Copies of the consolidated financial statements can be obtained from the registered office of the company at No.35 Jiuhuan Road, Jianggan District, Hangzhou, Zhejiang Province, China, 310019.

There is no one ultimate controlling party.