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Registered number: 07283386
Stellar Creative Ltd
Financial Statements
For the Period 1 July 2023 to 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07283386
31 December 2023 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,950 16,955
Investments 5 82 -
17,032 16,955
CURRENT ASSETS
Debtors 6 534,437 241,706
Cash at bank and in hand 229,404 373,362
763,841 615,068
Creditors: Amounts Falling Due Within One Year 7 (213,120 ) (153,328 )
NET CURRENT ASSETS (LIABILITIES) 550,721 461,740
TOTAL ASSETS LESS CURRENT LIABILITIES 567,753 478,695
NET ASSETS 567,753 478,695
CAPITAL AND RESERVES
Called up share capital 8 4 4
Share premium account 1 1
Profit and Loss Account 567,748 478,690
SHAREHOLDERS' FUNDS 567,753 478,695
Page 1
Page 2
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
G Archer-Cox
Director
S Fasham
Director
1 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stellar Creative Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07283386 . The registered office is 8th Floor (C/O Mindspace), 9 Appold Street, London, EC2A 2AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5 Years - straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the period was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 673 7,100 62,417 70,190
Additions - - 3,291 3,291
As at 31 December 2023 673 7,100 65,708 73,481
Depreciation
As at 1 July 2023 58 3,557 49,620 53,235
Provided during the period 84 804 2,408 3,296
As at 31 December 2023 142 4,361 52,028 56,531
Net Book Value
As at 31 December 2023 531 2,739 13,680 16,950
As at 1 July 2023 615 3,543 12,797 16,955
5. Investments
Unlisted
£
Cost
As at 1 July 2023 -
Additions 82
As at 31 December 2023 82
Provision
As at 1 July 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 82
As at 1 July 2023 -
Page 4
Page 5
6. Debtors
31 December 2023 30 June 2023
£ £
Due within one year
Trade debtors 107,116 72,817
Prepayments and accrued income 171,492 168,823
Other debtors 66 66
VAT 1,108 -
Amounts owed by group undertakings 254,655 -
534,437 241,706
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 June 2023
£ £
Trade creditors 89,812 58,254
Corporation tax 81,776 20,647
Other taxes and social security 3,523 3,427
Net wages 27 25
Other creditors - 1,933
Accruals and deferred income 25,186 68,867
Directors' loan accounts 12,796 175
213,120 153,328
8. Share Capital
31 December 2023 30 June 2023
£ £
Allotted, Called up and fully paid 4 4
Page 5