Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292false2No description of principal activitytruetruefalse2023-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11202792 2023-03-01 2024-02-29 11202792 2022-03-01 2023-02-28 11202792 2024-02-29 11202792 2023-02-28 11202792 c:Director1 2023-03-01 2024-02-29 11202792 d:CurrentFinancialInstruments 2024-02-29 11202792 d:CurrentFinancialInstruments 2023-02-28 11202792 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11202792 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11202792 d:ShareCapital 2024-02-29 11202792 d:ShareCapital 2023-02-28 11202792 d:RetainedEarningsAccumulatedLosses 2024-02-29 11202792 d:RetainedEarningsAccumulatedLosses 2023-02-28 11202792 c:FRS102 2023-03-01 2024-02-29 11202792 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11202792 c:FullAccounts 2023-03-01 2024-02-29 11202792 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11202792 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 11202792









SOULSTAR (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SOULSTAR (UK) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOULSTAR (UK) LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Soulstar (UK) Limited for the year ended 29 February 2024 which comprise  the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Soulstar (UK) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Soulstar (UK) Limited and state those matters that we have agreed to state to the Board of directors of Soulstar (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Soulstar (UK) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Soulstar (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Soulstar (UK) Limited. You consider that Soulstar (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Soulstar (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Barnett & Turner Accountants Limited
 
Chartered Accountants
  
Cromwell House
68 West Gate
Mansfield
Nottinghamshire
NG18 1RR
22 November 2024
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SOULSTAR (UK) LIMITED
REGISTERED NUMBER: 11202792

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
354,258
666,704

Cash at bank and in hand
 5 
2,642
37,279

  
356,900
703,983

Creditors: amounts falling due within one year
 6 
(357,550)
(704,334)

Net current liabilities
  
 
 
(650)
 
 
(351)

Total assets less current liabilities
  
(650)
(351)

  

Net liabilities
  
(650)
(351)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(750)
(451)

  
(650)
(351)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2024.



C S Bajaj
Director

The notes on pages 4 to 6 form part of these financial statements.
Page 2

 
SOULSTAR (UK) LIMITED
REGISTERED NUMBER: 11202792
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


Page 3

 
SOULSTAR (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Soulstar (UK) Limited is a private limited company incorporated and domiciled in England.  Its registered office is situated at Cromwell House, 68 West Gate, Mansfield, Nottinghamshire NG18 1RR.  Its principal place of business is The James Darby Building, Lowmoor Business Park, Kirkby-in-Ashfield, Nottinghamshire NG17 7LA.
The principal activity of the company is the wholesale of mens and childrens fashion clothing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company relies on other companies controlled by the directors for financial support. No indications have been given that suggest this support will be withdrawn.
At the date of approval of the financial statements, there remains a degree of uncertainty over the  the cost of living and wider geopolitical issues. The directors understand that the company may be affected to some degree by general economic factors in the UK and continue to monitor the position closely, however believe that the company will continue at its current level of activity, subject to the continued support from the other companies controlled by the directors.
The directors believe it is appropriate to adopt the going concern basis of preparation of the financial statements.

Page 4

 
SOULSTAR (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SOULSTAR (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Debtors

2024
2023
£
£


Trade debtors
280,933
621,950

Other debtors
46,396
18,220

Prepayments and accrued income
26,929
26,534

354,258
666,704



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,642
37,279



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
353,800
676,874

Other creditors
3,000
-

Accruals and deferred income
750
27,460

357,550
704,334



7.


Related party transactions

During the year the company purchased goods to the value of £1,673,675 (2023 - £1,998,738) from a company controlled by the directors of this company.  Extended credit terms apply. £343,554 (2023 - £662,959) was outstanding at the balance sheet date in respect of these transactions, included within trade creditors.
Payments have been made during the year on behalf of other companies under common control of the directors of this company. £1,500 (2023 - £1,627) was outstanding at the balance sheet date in respect of these transactions, included within other debtors.
  
During the year the company advanced £40,000 to one of the directors of the company. This was all repaid by 16 November 2024. The loan was interest free and had no repayment conditions.

 
Page 6