Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mrs J L Starling Mr K Starling 26 September 2024 The principal activity of the Company during the financial year was property letting. 07095654 2023-12-31 07095654 2022-12-31 07095654 core:CurrentFinancialInstruments 2023-12-31 07095654 core:CurrentFinancialInstruments 2022-12-31 07095654 core:Non-currentFinancialInstruments 2023-12-31 07095654 core:Non-currentFinancialInstruments 2022-12-31 07095654 core:ShareCapital 2023-12-31 07095654 core:ShareCapital 2022-12-31 07095654 core:RetainedEarningsAccumulatedLosses 2023-12-31 07095654 core:RetainedEarningsAccumulatedLosses 2022-12-31 07095654 core:FurnitureFittings 2022-12-31 07095654 core:OfficeEquipment 2022-12-31 07095654 core:FurnitureFittings 2023-12-31 07095654 core:OfficeEquipment 2023-12-31 07095654 core:CostValuation 2022-12-31 07095654 core:AdditionsToInvestments 2023-12-31 07095654 core:DisposalsRepaymentsInvestments 2023-12-31 07095654 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 07095654 core:CostValuation 2023-12-31 07095654 bus:OrdinaryShareClass1 2023-12-31 07095654 2023-01-01 2023-12-31 07095654 bus:FilletedAccounts 2023-01-01 2023-12-31 07095654 bus:SmallEntities 2023-01-01 2023-12-31 07095654 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07095654 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07095654 bus:Director1 2023-01-01 2023-12-31 07095654 bus:Director2 2023-01-01 2023-12-31 07095654 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 07095654 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 07095654 2022-01-01 2022-12-31 07095654 core:FurnitureFittings 2023-01-01 2023-12-31 07095654 core:OfficeEquipment 2023-01-01 2023-12-31 07095654 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 07095654 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07095654 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07095654 (England and Wales)

K STAR SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

K STAR SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

K STAR SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
K STAR SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mrs J L Starling
Mr K Starling
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 07095654 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
K STAR SOLUTIONS LIMITED

BALANCE SHEET

As at 31 December 2023
K STAR SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 5,026 10,464
Investment property 4 2,200,000 1,991,864
Investments 5 211,147 182,759
2,416,173 2,185,087
Current assets
Debtors 6 110,612 110,887
Cash at bank and in hand 97,396 57,885
208,008 168,772
Creditors: amounts falling due within one year 7 ( 1,646,353) ( 1,631,770)
Net current liabilities (1,438,345) (1,462,998)
Total assets less current liabilities 977,828 722,089
Creditors: amounts falling due after more than one year 8 ( 14,167) ( 24,167)
Provision for liabilities ( 58,000) ( 18,800)
Net assets 905,661 679,122
Capital and reserves
Called-up share capital 9 50 50
Profit and loss account 11 905,611 679,072
Total shareholder's funds 905,661 679,122

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of K Star Solutions Limited (registered number: 07095654) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

Mr K Starling
Director
K STAR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
K STAR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K Star Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue based on its value of the service provided to date.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not included. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Rental revenue is recognised as the rent falls due. Property sales of development sites are recognised as revenue on completion. Sales of properties held for investment are recognised as disposal of fixed assets.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2023 19,390 8,410 27,800
Disposals 0 ( 5,839) ( 5,839)
At 31 December 2023 19,390 2,571 21,961
Accumulated depreciation
At 01 January 2023 9,704 7,632 17,336
Charge for the financial year 4,847 591 5,438
Disposals 0 ( 5,839) ( 5,839)
At 31 December 2023 14,551 2,384 16,935
Net book value
At 31 December 2023 4,839 187 5,026
At 31 December 2022 9,686 778 10,464

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 1,991,864
Fair value movement 208,136
As at 31 December 2023 2,200,000

Valuation

The investment properties have been valued by the director on an open market basis.

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 182,758 182,758
Additions 116,339 116,339
Disposals ( 117,477) ( 117,477)
Movement in fair value 29,527 29,527
At 31 December 2023 211,147 211,147
Carrying value at 31 December 2023 211,147 211,147
Carrying value at 31 December 2022 182,759 182,759

The investments are listed and their carrying value is equal to their open market value.

6. Debtors

2023 2022
£ £
Other debtors 110,612 110,887

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Amounts owed to directors 1,542,324 1,532,498
Accruals and deferred income 33,114 22,521
Taxation and social security 7,100 4,015
Other creditors 53,815 62,736
1,646,353 1,631,770

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 14,167 24,167

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.50 each 50 50

10. Related party transactions

Other related party transactions

2023 2022
£ £
Balance due from an entity with a common director 10,700 10,350
Balance due to a director 1,542,324 1,532,498

At the year end the company was owed £10,700 from Ferret Technology Limited (2022: £10,350), a company with a common director. The interest rate on this loan is 3.5% and the loan is repayable on demand.

At the year end the company owed £1,542,324 to a director (2022: £1,532,498). The interest rate on this loan is 8.1% and the loan is repayable on demand.

11. Reserves

At the year end non-distributable reserves total £248,462 (2022: £73,726) which is in relation to the fair value of the investment property held within the company, net of the deferred tax adjustment.