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Registered number: 10103510
Redstar Online Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10103510
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,192 2,967
Tangible Assets 5 21,331 12,994
23,523 15,961
CURRENT ASSETS
Stocks 6 787,792 585,679
Debtors 7 261,014 224,631
Cash at bank and in hand 476,021 733,113
1,524,827 1,543,423
Creditors: Amounts Falling Due Within One Year 8 (1,149,582 ) (207,841 )
NET CURRENT ASSETS (LIABILITIES) 375,245 1,335,582
TOTAL ASSETS LESS CURRENT LIABILITIES 398,768 1,351,543
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,391 ) (2,981 )
NET ASSETS 395,377 1,348,562
CAPITAL AND RESERVES
Called up share capital 9 500 500
Profit and Loss Account 394,877 1,348,062
SHAREHOLDERS' FUNDS 395,377 1,348,562
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Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J P Swain
Director
26/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Redstar Online Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10103510 . The registered office is Unit 3b Aston Industrial Estate Parsons Lane, Hope, Hope Valley, S33 6RB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised over 5 years on straight line basis
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5 Year Stright Line
Plant & Machinery 15% Reducing Balance Basis
Fixtures & Fittings 25% Straight Line Basis
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Financial Instruments
Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.12. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.13. Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
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4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 March 2023 3,873
As at 29 February 2024 3,873
Amortisation
As at 1 March 2023 906
Provided during the period 775
As at 29 February 2024 1,681
Net Book Value
As at 29 February 2024 2,192
As at 1 March 2023 2,967
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 March 2023 1,500 42,193 43,693
Additions 5,550 12,448 17,998
Disposals - (874 ) (874 )
As at 29 February 2024 7,050 53,767 60,817
Depreciation
As at 1 March 2023 300 30,399 30,699
Provided during the period 1,410 7,614 9,024
Disposals - (237 ) (237 )
As at 29 February 2024 1,710 37,776 39,486
Net Book Value
As at 29 February 2024 5,340 15,991 21,331
As at 1 March 2023 1,200 11,794 12,994
6. Stocks
2024 2023
£ £
Finished goods 787,792 585,679
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,425 18,473
Amounts owed by group undertakings 126,847 125,425
Other debtors 114,742 80,733
261,014 224,631
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31,978 7,617
Amounts owed to participating interests 966,422 -
Other creditors 47,396 36,973
Taxation and social security 103,786 163,251
1,149,582 207,841
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
10. Related Party Transactions
Included in debtors is an amount owed by United Property Group Limited of £125,440 (2023: £125,425) a company under common control.
Included in debtors is an amount owed by Mollypops Limited of £1,407 (2023: £nil)) a company under common control.
Included in creditors is an amount owed to the parent company, Swain Enterprise Limited, of £966,422 (2023: £nil)
 The amounts are unsecured, interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is Swain Enterprise Limited by virtue of its ownership of 100% of the issued share capital in the company.
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