ELECTRIC STAR LIVERPOOL ST LTD
Registered number: 08841329
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 286,473 397,866
Current assets
Stocks 40,874 27,443
Debtors 4 272,680 253,067
313,554 280,510
Creditors: amounts falling due within one year 5 (197,992) (295,304)
Net current assets/(liabilities) 115,562 (14,794)
Total assets less current liabilities 402,035 383,072
Provisions for liabilities (23,557) (42,203)
Net assets 378,478 340,869
Capital and reserves
Called up share capital 1 1
Profit and loss account 378,477 340,868
Shareholders' funds 378,478 340,869
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hives
Director
Approved by the board on 2 December 2024
ELECTRIC STAR LIVERPOOL ST LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer & Office Equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 151,871 420,386 572,257
Additions - 3,930 3,930
Disposals - (2,200) (2,200)
At 31 October 2024 151,871 422,116 573,987
Depreciation
At 1 November 2023 7,594 166,797 174,391
Charge for the year 7,594 105,529 113,123
At 31 October 2024 15,188 272,326 287,514
Net book value
At 31 October 2024 136,683 149,790 286,473
At 31 October 2023 144,277 253,589 397,866
4 Debtors 2024 2023
£ £
Prepayments 80,680 61,067
Rent deposit 192,000 192,000
272,680 253,067
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,657 79,098
Trade creditors 27,781 39,442
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,000 54,852
Corporation tax 12,255 -
Other taxes and social security costs 36,090 31,593
Accruals 71,209 90,319
197,992 295,304
6 Controlling party
The company is ultimately controlled by Rob Hives Esq.
7 Other information
ELECTRIC STAR LIVERPOOL ST LTD is a private company limited by shares and incorporated in England. Its registered office is:
359 Bethnal Green Road
London
E2 6LG
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