IRIS Accounts Production v24.2.0.383 07125694 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071256942023-03-31071256942024-03-31071256942023-04-012024-03-31071256942022-03-31071256942022-04-012023-03-31071256942023-03-3107125694ns15:EnglandWales2023-04-012024-03-3107125694ns14:PoundSterling2023-04-012024-03-3107125694ns10:Director12023-04-012024-03-3107125694ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107125694ns10:SmallEntities2023-04-012024-03-3107125694ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107125694ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107125694ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107125694ns10:FullAccounts2023-04-012024-03-310712569412023-04-012024-03-3107125694ns10:OrdinaryShareClass12023-04-012024-03-3107125694ns10:Director22023-04-012024-03-3107125694ns10:RegisteredOffice2023-04-012024-03-3107125694ns5:CurrentFinancialInstruments2024-03-3107125694ns5:CurrentFinancialInstruments2023-03-3107125694ns5:Non-currentFinancialInstruments2024-03-3107125694ns5:Non-currentFinancialInstruments2023-03-3107125694ns5:ShareCapital2024-03-3107125694ns5:ShareCapital2023-03-3107125694ns5:RetainedEarningsAccumulatedLosses2024-03-3107125694ns5:RetainedEarningsAccumulatedLosses2023-03-3107125694ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107125694ns5:LeaseholdImprovements2023-04-012024-03-3107125694ns5:PlantMachinery2023-04-012024-03-3107125694ns5:MotorVehicles2023-04-012024-03-3107125694ns5:ComputerEquipment2023-04-012024-03-3107125694ns5:NetGoodwill2023-03-3107125694ns5:NetGoodwill2024-03-3107125694ns5:NetGoodwill2023-03-3107125694ns5:PlantMachinery2023-03-3107125694ns5:PlantMachinery2024-03-3107125694ns5:PlantMachinery2023-03-3107125694ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107125694ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107125694ns5:Secured2024-03-3107125694ns5:Secured2023-03-3107125694ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 07125694 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ONWARD STAR LIMITED

ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ONWARD STAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M P Sayer
P I Sayer





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 07125694 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,290,792 1,325,100
1,290,792 1,325,100

CURRENT ASSETS
Debtors 6 3,850 2,543
Cash at bank 154,982 119,869
158,832 122,412
CREDITORS
Amounts falling due within one year 7 325,934 358,781
NET CURRENT LIABILITIES (167,102 ) (236,369 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,123,690

1,088,731

CREDITORS
Amounts falling due after more than one
year

8

(327,213

)

(371,051

)

PROVISIONS FOR LIABILITIES (286,083 ) (252,024 )
NET ASSETS 510,394 465,656

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 510,294 465,556
SHAREHOLDERS' FUNDS 510,394 465,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





M P Sayer - Director


ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Onward Star 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 relates to fishing income excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - at varying rates on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 1,474,024
Additions 7,972
At 31 March 2024 1,481,996
DEPRECIATION
At 1 April 2023 148,924
Charge for year 42,280
At 31 March 2024 191,204
NET BOOK VALUE
At 31 March 2024 1,290,792
At 31 March 2023 1,325,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,097 -
Other debtors 2,753 2,543
3,850 2,543

ONWARD STAR LIMITED (REGISTERED NUMBER: 07125694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 53,665 53,665
Trade creditors 7,138 624
Taxation and social security - 177
Other creditors 265,131 304,315
325,934 358,781

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 327,213 371,051

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 112,552 156,390

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 380,878 424,716

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100