Registered number
02376554
Anglestar Limited
Filleted Accounts
31 October 2023
Anglestar Limited
Registered number: 02376554
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,530 37,094
Investments 5 1,320,627 956,615
Investment property 4 2,300,000 2,500,000
3,652,157 3,493,709
Current assets
Debtors 6 457,062 208,088
Cash at bank and in hand 49,319 3,076,205
506,381 3,284,293
Creditors: amounts falling due within one year 7 (130,243) (2,297,579)
Net current assets 376,138 986,714
Total assets less current liabilities 4,028,295 4,480,423
Provisions for liabilities (107,718) (147,718)
Net assets 3,920,577 4,332,705
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,920,477 4,332,605
Shareholder's funds 3,920,577 4,332,705
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
P C Meadows
Director
Approved by the board on 27 September 2024
Anglestar Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
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:
Motor vehicles at 15% reducing balance
Investment property
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 96,134 88,818 184,952
Transfer to/from investment property -
At 31 October 2023 96,134 88,818 184,952
Depreciation
At 1 November 2022 96,134 51,724 147,858
Charge for the year - 5,564 5,564
At 31 October 2023 96,134 57,288 153,422
Net book value
At 31 October 2023 - 31,530 31,530
At 31 October 2022 - 37,094 37,094
4 Investment property 2023 2022
£ £
Valuation
At 1 November 2022 2,500,000 1,712,413
Additions - 10,125
Transfer to/from tangible fixed assets - -
Revaluation (200,000) 777,462
Disposals - -
At 31 October 2023 2,300,000 2,500,000
Investment property was valued at its open market value on 31 October 2023 by P Meadows, the director of the company who is not a qualified valuer.
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 November 2022 - 956,615 956,615
Additions - 492,421 492,421
Revaluation - (106,573) (106,573)
Disposals - (21,836) (21,836)
At 31 October 2023 - 1,320,627 1,320,627
6 Debtors 2023 2022
£ £
Other taxes and social security 688 -
Corporation tax 99 -
Other debtors 456,275 208,088
457,062 208,088
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 6,392
Taxation and social security costs - 92,841
Other creditors 130,243 2,198,346
130,243 2,297,579
8 Related party transactions
Treeline Carbon Ltd is 100% owned compamy by Mr Peter Charles Meadows. It owes £175,764 as per 31 October 2023 (2022: £40,137)
9 Other information
Anglestar Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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