Registered Number:04468943 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
Star News Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
12,630
16,839
2
12,630
16,839
10,000
10,000
3
Trade and other receivables |
20,000
3
4
13,000
Cash and cash equivalents |
13,000
23,003
43,000
Trade and other payables: amounts falling due within one |
year |
(57,436)
(65,302)
5
(14,436)
(42,299)
Net current liabilities
Total assets less current liabilities |
(29,669)
2,403
Trade and other payables: amounts falling due after more |
than one year |
(90,221)
(73,327)
6
(102,996)
Net liabilities
(87,818)
2
2
(102,998)
(87,820)
(102,996)
(87,818)
Shareholders' funds
For the year ended 31 December 2023 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Parminderjit Singh Heer Director |
These financial statements were approved and authorised for issue by the Board on 21 November 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 December 2023
Star News Ltd
Notes to the Financial Statements
Statutory Information
Star News Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
04468943. |
Principal place of business: |
Derry Hill Stores
48 Church Road
Derry Hill
Calne
SN11 9NR
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is £10,000 and is being amortised evenly over its estimated useful life of 10 years. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected |
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
would be immaterial. The directors undertake an annual impairment review of these properties. |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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For the year ended 31 December 2023
Star News Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
38,851
38,851
Provision for depreciation and impairment |
22,012
Charge for year
4,209
26,221
12,630
16,839
2022
2023
10,000
10,000
4. Trade and other receivables |
2022
2023
3
20,000
5. Trade and other payables: amounts falling due within one year |
2022
2023
37,502
14,088
14,388
31,584
Taxation and social security |
5,102
5,282
8,310
6,482
65,302
57,436
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For the year ended 31 December 2023
Star News Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
20,000
30,000
Bank loans and overdraft (secured) |
53,327
60,221
73,327
90,221
7. Average number of persons employed |
During the year the average number of employees was 3 (2022 : 3)
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