IRIS Accounts Production v24.2.0.383 06036100 director 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh060361002023-01-31060361002024-01-31060361002023-02-012024-01-31060361002022-01-31060361002022-02-012023-01-31060361002023-01-3106036100ns15:EnglandWales2023-02-012024-01-3106036100ns14:PoundSterling2023-02-012024-01-3106036100ns10:Director12023-02-012024-01-3106036100ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3106036100ns10:SmallEntities2023-02-012024-01-3106036100ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3106036100ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3106036100ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3106036100ns10:AbridgedAccounts2023-02-012024-01-3106036100ns10:RegisteredOffice2023-02-012024-01-3106036100ns5:CurrentFinancialInstruments2023-01-3106036100ns5:CurrentFinancialInstruments2024-01-3106036100ns5:Non-currentFinancialInstruments2023-01-3106036100ns5:Non-currentFinancialInstruments2024-01-3106036100ns5:ShareCapital2023-01-3106036100ns5:ShareCapital2024-01-3106036100ns5:RetainedEarningsAccumulatedLosses2023-01-3106036100ns5:RetainedEarningsAccumulatedLosses2024-01-3106036100ns5:PlantMachinery2023-02-012024-01-3106036100ns5:Secured2024-01-3106036100ns5:Secured2023-01-31
REGISTERED NUMBER: 06036100 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

The Driffield Star Limited

The Driffield Star Limited (Registered number: 06036100)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


The Driffield Star Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: R P Watkins



REGISTERED OFFICE: The Star Inn
Exchange Street
Driffield
Yorkshire
YO25 6LJ



REGISTERED NUMBER: 06036100 (England and Wales)



ACCOUNTANTS: Orcadia
Chartered Accountants
1 - 3 East Road
Kirkwall
Orkney
KW15 1HZ



BANKERS: National Westminster Bank plc
12 Kerrridge Way
Holt
Norfolk
NR25 6YY

The Driffield Star Limited (Registered number: 06036100)

Abridged Statement of Financial Position
31 January 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
544,250 Tangible assets 4 542,870

CURRENT ASSETS
8,360 Stocks 8,778
553 Debtors 1,385
37,981 Cash at bank and in hand 34,112
46,894 44,275
CREDITORS
381,792 Amounts falling due within one year 409,296
(334,898 ) NET CURRENT LIABILITIES (365,021 )
209,352 TOTAL ASSETS LESS CURRENT
LIABILITIES

177,849

CREDITORS
(151,226 ) Amounts falling due after more than one
year

(109,744

)

(851 ) PROVISIONS FOR LIABILITIES (686 )
57,275 NET ASSETS 67,419

CAPITAL AND RESERVES
100 Called up share capital 100
57,175 Retained earnings 67,319
57,275 SHAREHOLDERS' FUNDS 67,419

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The Driffield Star Limited (Registered number: 06036100)

Abridged Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 15 October 2024 and were signed by:





R P Watkins - Director


The Driffield Star Limited (Registered number: 06036100)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The Driffield 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The Driffield Star Limited (Registered number: 06036100)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors re initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

The Driffield Star Limited (Registered number: 06036100)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 667,054
Additions 865
Disposals (10,741 )
At 31 January 2024 657,178
DEPRECIATION
At 1 February 2023 122,804
Charge for year 1,875
Eliminated on disposal (10,371 )
At 31 January 2024 114,308
NET BOOK VALUE
At 31 January 2024 542,870
At 31 January 2023 544,250

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 152,806 193,389

6. RELATED PARTY DISCLOSURES

Balance due to R P Watkins at 31 January 2024 was £347,039 (2023: £316,809).

Interest is charged annually at the market rate for unsecured loans.

Director's loan interest paid to R P Watkins in the year was £34,675 (2023: £28,167).

7. ULTIMATE CONTROLLING PARTY

The director controls the company.