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Registered number: 13530350
Star Supermarket Stores Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13530350
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 172,247 147,254
172,247 147,254
CURRENT ASSETS
Stocks 5 498,655 203,383
Debtors 6 144,633 6,776
Cash at bank and in hand 53,688 37,068
696,976 247,227
Creditors: Amounts Falling Due Within One Year 7 (770,338 ) (348,682 )
NET CURRENT ASSETS (LIABILITIES) (73,362 ) (101,455 )
TOTAL ASSETS LESS CURRENT LIABILITIES 98,885 45,799
NET ASSETS 98,885 45,799
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 88,885 35,799
SHAREHOLDERS' FUNDS 98,885 45,799
Page 1
Page 2
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Jas Singh
Director
14/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Star Supermarket Stores Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13530350 . The registered office is Unit 16 Tollgate Shopping Precinct, Tollgate Shopping Precinct, Smethwick, B67 7RA.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: )
12 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2022 45,341 - 83,591 56,210 185,142
Additions - 15,000 48,365 - 63,365
As at 31 July 2023 45,341 15,000 131,956 56,210 248,507
Depreciation
As at 1 August 2022 6,801 - 12,538 18,549 37,888
Provided during the period 5,781 2,250 17,913 12,428 38,372
As at 31 July 2023 12,582 2,250 30,451 30,977 76,260
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 July 2023 32,759 12,750 101,505 25,233 172,247
As at 1 August 2022 38,540 - 71,053 37,661 147,254
5. Stocks
2023 2022
£ £
Finished goods 498,655 203,383
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 41,462 6,776
Other debtors 103,171 -
144,633 6,776
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 460,253 18,107
Other creditors 294,101 330,575
Taxation and social security 15,984 -
770,338 348,682
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 4