Registered number
15032104
STARFREEZE LTD
Filleted Accounts
31 July 2024
STARFREEZE LTD
Registered number: 15032104
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 108,000 -
Tangible assets 4 9,375 -
117,375 -
Current assets
Stocks 23,050 -
Debtors 5 7,905 -
Cash at bank and in hand 151,951 -
182,906 -
Creditors: amounts falling due within one year 6 (72,064) -
Net current assets 110,842 -
Total assets less current liabilities 228,217 -
Creditors: amounts falling due after more than one year 7 (191,610) -
Net assets 36,607 -
Capital and reserves
Share premium 100 -
Profit and loss account 36,507 -
Shareholders' funds 36,607 -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
USMAN PATEL
Director
Approved by the board on 28 August 2024
STARFREEZE LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 -
3 Intangible fixed assets £
Goodwill:
Cost
Additions 120,000
At 31 July 2024 120,000
Amortisation
Provided during the year 12,000
At 31 July 2024 12,000
Net book value
At 31 July 2024 108,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 10,417
At 31 July 2024 10,417
Depreciation
Charge for the year 1,042
At 31 July 2024 1,042
Net book value
At 31 July 2024 9,375
5 Debtors 2024 2023
£ £
Trade debtors 7,905 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,827 -
Taxation and social security costs 20,617 -
Other creditors 31,620 -
72,064 -
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 191,610 -
8 Controlling party
The company is under the control of the Director and his spouse by virtue of them owning the fully issued share capital.
9 Other information
STARFREEZE LTD is a private company limited by shares and incorporated in England. Its registered office is:
35-37 PEEL HALL ROAD
WYTHENSHAW
MANCHESTER
M22 5DW
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