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REGISTERED NUMBER: 07720137 (England and Wales)






















Norstar Trading Limited

Unaudited Financial Statements for the Year Ended 31st December 2023






Norstar Trading Limited (Registered number: 07720137)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Norstar Trading Limited

Company Information
for the year ended 31st December 2023







DIRECTORS: J W Morrow
D A Roberts





REGISTERED OFFICE: 82 Wassand Street
Hull
East Yorkshire
HU3 4AL





REGISTERED NUMBER: 07720137 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Norstar Trading Limited (Registered number: 07720137)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,705 75,989

CURRENT ASSETS
Debtors 5 264,273 332,030
Cash at bank 137,650 103,955
401,923 435,985
CREDITORS
Amounts falling due within one year 6 131,875 190,961
NET CURRENT ASSETS 270,048 245,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,753

321,013

CREDITORS
Amounts falling due after more than one
year

7

(7,670

)

(29,830

)

PROVISIONS FOR LIABILITIES (10,263 ) (12,830 )
NET ASSETS 296,820 278,353

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 296,720 278,253
SHAREHOLDERS' FUNDS 296,820 278,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Norstar Trading Limited (Registered number: 07720137)

Balance Sheet - continued
31st December 2023


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 20th September 2024 and were signed on its behalf by:





J W Morrow - Director


Norstar Trading Limited (Registered number: 07720137)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Norstar Trading 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of fish is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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 etc - 33% on cost and 20% on cost

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Norstar Trading Limited (Registered number: 07720137)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2023 71,202 4,347 47,545 123,094
Additions 570 262 - 832
At 31st December 2023 71,772 4,609 47,545 123,926
DEPRECIATION
At 1st January 2023 34,208 4,344 8,553 47,105
Charge for year 20,169 61 11,886 32,116
At 31st December 2023 54,377 4,405 20,439 79,221
NET BOOK VALUE
At 31st December 2023 17,395 204 27,106 44,705
At 31st December 2022 36,994 3 38,992 75,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,306 108,617
Amounts owed by group undertakings 176,920 176,920
Other debtors 19,047 46,493
264,273 332,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,160 15,338
Trade creditors 61,203 111,433
Taxation and social security 31,712 13,643
Other creditors 24,800 50,547
131,875 190,961

Norstar Trading Limited (Registered number: 07720137)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 7,670 21,830
Other creditors - 8,000
7,670 29,830

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £70,267 (2022 £87,467) of which £17,200 (2022 £17,200) falls due for payment within one year.