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REGISTERED NUMBER: 03422264 (England and Wales)




























Financial Statements

for the Year Ended 31 December 2023

for

Starlims UK Limited

Starlims UK Limited (Registered number: 03422264)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Starlims UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr Harry Milton Cook III
Ms Judith Phillips Dolgin
Mr Douglas Andrew Fedich



REGISTERED OFFICE: C/O Corporation Service Company (UK) Ltd
5 Churchill Place
10th Floor
London
E14 5HU



REGISTERED NUMBER: 03422264 (England and Wales)



AUDITORS: DonnellyBentley Limited
Chartered Accountants
Statutory Auditor
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY



BANKERS: Citibank
33 Canada Square
Canary Wharf
London
E14 5LB

Starlims UK Limited (Registered number: 03422264)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,308 5,183
Investments 5 4,127,999 -
4,136,307 5,183

CURRENT ASSETS
Debtors 6 1,870,853 2,273,232
Cash at bank 165,725 146,909
2,036,578 2,420,141
CREDITORS
Amounts falling due within one year 7 2,429,414 938,762
NET CURRENT (LIABILITIES)/ASSETS (392,836 ) 1,481,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,743,471

1,486,562

CREDITORS
Amounts falling due after more than one
year

8

1,556,600

-
NET ASSETS 2,186,871 1,486,562

CAPITAL AND RESERVES
Called up share capital 11 8,401 8,400
Share premium 619,452 -
Capital redemption reserve 1,653 1,653
Retained earnings 1,557,365 1,476,509
SHAREHOLDERS' FUNDS 2,186,871 1,486,562

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr Douglas Andrew Fedich - Director


Starlims UK Limited (Registered number: 03422264)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Starlims 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.

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

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the Directors continue to adopt the going concern basis of accounting in preparing the annual report and financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Starlims UK Limited 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.

Related party exemption
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.

Significant judgements and estimates
The preparation of these financial statements requires certain judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - Straight line over 7 years
Office equipment - Straight line over 7 years
Fixtures and fittings - Straight line over 7 years
Computer equipment - 25% on cost

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


Starlims UK Limited (Registered number: 03422264)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 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
Defined contribution pension obligation

The company now operates a defined contribution scheme for all employees under which contributions by the company and the employee are paid to Royal London Pensions.

Employer's contributions are charged to the profit and loss account.

Debtors and creditors receivable/ payable within one year
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 in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

Starlims UK Limited (Registered number: 03422264)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Office and Computer
Improvements equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 144,867 17,929 40,515 147,173 350,484
Additions - - - 8,398 8,398
At 31 December 2023 144,867 17,929 40,515 155,571 358,882
DEPRECIATION
At 1 January 2023 144,867 17,929 40,515 141,990 345,301
Charge for year - - - 5,273 5,273
At 31 December 2023 144,867 17,929 40,515 147,263 350,574
NET BOOK VALUE
At 31 December 2023 - - - 8,308 8,308
At 31 December 2022 - - - 5,183 5,183

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 4,127,999
At 31 December 2023 4,127,999
NET BOOK VALUE
At 31 December 2023 4,127,999

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,469,441 1,096,357
Amounts owed by group undertakings 362,106 1,145,482
Other debtors 390 -
Deferred tax asset 8,338 11,121
Prepayments and accrued income 30,578 20,272
1,870,853 2,273,232

Starlims UK Limited (Registered number: 03422264)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 62,353 97,937
Amounts owed to group undertakings 1,280,612 -
Tax 30,601 17,598
Social security and other taxes - 3,065
VAT 119,371 25,365
Other creditors 19,523 19,493
Accruals and deferred income 916,954 775,304
2,429,414 938,762

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 1,556,600 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 1,556,600 -

Other creditors of £1,556,600 are secured by a fixed and floating charge over all property and undertakings of Starlims UK Limited which has been granted to Wells Fargo Bank.

10. DEFERRED TAX
£   
Balance at 1 January 2023 (11,121 )
Provided during year 2,783
Balance at 31 December 2023 (8,338 )

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
8,401 Share capital 1 £1 8,401 8,400
(2022 - 8,400 )

1 Ordinary share of £1 was issued during the year for cash of £ 619,453 .

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

The Report of the Auditors was unqualified.

Catherine Cole FCA (Senior Statutory Auditor)
for and on behalf of DonnellyBentley Limited

Starlims UK Limited (Registered number: 03422264)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. PARENT COMPANY

The immediate parent company is Starlims Systems Limited (incorporated in Israel).

Starlims UK Limited's accounts are included in the consolidated accounts prepared by Starlims Limited (incorporated in Israel) whose registered office is: Hanehoset 3, CU Complex, Building B, Tel Aviv. 6971068, Israel.