Registered number
12952776
ELECTRIC STAR GROUP LTD
Filleted Accounts
31 October 2024
ELECTRIC STAR GROUP LTD
Registered number: 12952776
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 92 184
Investments 4 143,804 143,805
143,896 143,989
Current assets
Debtors 5 629,589 186,708
Cash at bank and in hand 1,266 2,469
630,855 189,177
Creditors: amounts falling due within one year 6 (184,377) (107,860)
Net current assets 446,478 81,317
Net assets 590,374 225,306
Capital and reserves
Called up share capital 100 100
Profit and loss account 590,274 225,206
Shareholders' funds 590,374 225,306
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 GROUP 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:
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 14 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 368
At 31 October 2024 368
Depreciation
At 1 November 2023 184
Charge for the year 92
At 31 October 2024 276
Net book value
At 31 October 2024 92
At 31 October 2023 184
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 November 2023 143,805
Disposals (1)
At 31 October 2024 143,804
Subsidiary Undertakings Ownership Capital
Electric Star Kings Cross Ltd 100% £100
Electric Star Hackney Downs Ltd 100% £100
Electric Star Ltd 100% £100
Electric Star Lord Napier Ltd 100% £100
Genius Star Ltd 100% £100
Genius Heathcote Ltd 100% £1
Electric Star Liverpool St Ltd 100% £1
Electric Star Old Street Ltd 100% £143,001
Shoreditch Gateway Bar Ltd 100% £100
Electric Star Bethnal Green Ltd 100% £1
Leyton Star Freehold Ltd 100% £100
Electric Star Group Spare Co 2 Ltd 100% £100
143,804
5 Debtors 2024 2023
£ £
Trade debtors 102,589 179,288
Amounts owed by group undertakings and undertakings in which the company has a participating interest 527,000 -
Prepayments - 7,420
629,589 186,708
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 5,030
Trade creditors 26,336 2,469
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 5,000
Taxation and social security costs 80,839 83,161
Directors current account 65,002 -
Accruals 12,200 12,200
184,377 107,860
7 Controlling party
The company is controlled by Robert Hives Esq.
8 Other information
ELECTRIC STAR GROUP 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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