Company Registration No. 04414913 (England and Wales)
Groupstar Limited
Unaudited accounts
for the year ended 30 April 2024
Groupstar Limited
Statement of financial position
as at 30 April 2024
Investment property
1,745,000
1,745,000
Cash at bank and in hand
933,762
980,332
Creditors: amounts falling due within one year
(61,552)
(57,930)
Net current assets
897,070
932,724
Total assets less current liabilities
2,642,396
2,678,380
Creditors: amounts falling due after more than one year
(1,244,753)
(1,344,753)
Net assets
1,397,643
1,333,627
Called up share capital
1,000
1,000
Profit and loss account
1,396,643
1,332,627
Shareholders' funds
1,397,643
1,333,627
For the year ending 30 April 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 October 2024 and were signed on its behalf by
M Kantharia
Director
Company Registration No. 04414913
Groupstar Limited
Notes to the Accounts
for the year ended 30 April 2024
Groupstar Limited is a private company, limited by shares, registered in England and Wales, registration number 04414913. The registered office is 122 Charles Street, Leicester, LE1 1LB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover represents amounts receivable for rents and services.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
50% on reducing balance
Investment properties for which fair value can be measured reliably without undue cost and effort are included in the balance sheet at their fair value and changes recognised in profit and loss account.
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Groupstar Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 May 2023
1,745,000
At 30 April 2024
1,745,000
The investment property fair value included in the profit for the year was determined by the directors by reference to current market prices for comparable property, adjusted for any differences in nature, location and condition.
Amounts falling due within one year
Amounts due from group undertakings etc.
14,860
-
Other debtors
10,000
10,322
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
22,622
19,208
Other creditors
38,930
38,722
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
1,244,753
1,344,753
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).