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Company No: 06628133 (England and Wales)

STAR EDITIONS LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

STAR EDITIONS LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

STAR EDITIONS LTD

COMPANY INFORMATION

For the financial year ended 31 January 2024
STAR EDITIONS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Christine Marston
Edward Charles Beale Marston
John William Beale Marston
St.John Riviere Beale Marston
William Robert Oriel Marston
SECRETARY Christine Marston
REGISTERED OFFICE Stanley House Masterlord Village
West Road
Ransomes Europark
Ipswich
IP3 9SX
England
United Kingdom
COMPANY NUMBER 06628133 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
STAR EDITIONS LTD

BALANCE SHEET

As at 31 January 2024
STAR EDITIONS LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,413,641 617,378
1,413,641 617,378
Current assets
Stocks 4 430,528 319,718
Debtors 5 197,255 265,202
Cash at bank and in hand 208,114 303,652
835,897 888,572
Creditors: amounts falling due within one year 6 ( 533,899) ( 417,258)
Net current assets 301,998 471,314
Total assets less current liabilities 1,715,639 1,088,692
Creditors: amounts falling due after more than one year 7 ( 883,173) ( 515,806)
Provision for liabilities 8 ( 84,594) ( 20,987)
Net assets 747,872 551,899
Capital and reserves
Called-up share capital 9 200 200
Profit and loss account 747,672 551,699
Total shareholders' funds 747,872 551,899

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Star Editions Ltd (registered number: 06628133) were approved and authorised for issue by the Board of Directors on 31 October 2024. They were signed on its behalf by:

William Robert Oriel Marston
Director
STAR EDITIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
STAR EDITIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Star Editions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stanley House Masterlord Village, West Road, Ransomes Europark, Ipswich, IP3 9SX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 20 % reducing balance
5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 26

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 132,788 750,509 43,146 926,443
Additions 0 957,824 1,814 959,638
At 31 January 2024 132,788 1,708,333 44,960 1,886,081
Accumulated depreciation
At 01 February 2023 100,769 172,298 35,998 309,065
Charge for the financial year 24,627 132,670 6,078 163,375
At 31 January 2024 125,396 304,968 42,076 472,440
Net book value
At 31 January 2024 7,392 1,403,365 2,884 1,413,641
At 31 January 2023 32,019 578,211 7,148 617,378

4. Stocks

2024 2023
£ £
Stocks 430,528 319,718

5. Debtors

2024 2023
£ £
Trade debtors 170,343 225,033
Other debtors 26,912 40,169
197,255 265,202

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 50,000 50,000
Trade creditors 116,670 126,860
Taxation and social security 134,602 122,004
Obligations under finance leases and hire purchase contracts 190,133 77,551
Other creditors 42,494 40,843
533,899 417,258

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 112,500 162,500
Obligations under finance leases and hire purchase contracts 770,673 353,306
883,173 515,806

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 84,594 20,987

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
58 Ordinary A shares of £ 1.00 each 58 58
72 Ordinary B shares of £ 1.00 each 72 72
30 Ordinary C shares of £ 1.00 each 30 30
40 Ordinary D shares of £ 1.00 each 40 40
200 200

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
St.John Maston director's loan account 791 438
William Marston director's loan account 932 5,198
Edward Marston director's loan account 320 506
John Marston director's loan account 621 888

The above overdrawn directors loan accounts have been repaid after the year-end via the payment of an interim dividend based on the 2025 interim figures and there are no fixed-terms for repayment.

Interest has been charged where the balance exceeds £10,000 in line with the prevailing rates set by HM Revenue and Customs.