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Company registration number: 03361629
World Superstars Limited
Unaudited filleted financial statements
30 April 2024
World Superstars Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
World Superstars Limited
Directors and other information
Directors Mr T J McQuade
Mr T A Adamson
Mr M F Corrie
Company number 03361629
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
World Superstars Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Intangible assets 4 - -
Current assets
Cash at bank and in hand 1 1
_______ _______
1 1
Net current assets 1 1
_______ _______
Total assets less current liabilities 1 1
Creditors: amounts falling due
after more than one year 5 ( 31,610) ( 31,610)
_______ _______
Net liabilities ( 31,609) ( 31,609)
_______ _______
Capital and reserves
Called up share capital 99 99
Profit and loss account ( 31,708) ( 31,708)
_______ _______
Shareholders deficit ( 31,609) ( 31,609)
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 January 2025 , and are signed on behalf of the board by:
Mr M F Corrie
Director
Company registration number: 03361629
World Superstars Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Domain names - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 May 2023 and 30 April 2024 348 348
_______ _______
Amortisation
At 1 May 2023 and 30 April 2024 348 348
_______ _______
Carrying amount
At 30 April 2024 - -
_______ _______
At 30 April 2023 - -
_______ _______
5. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 31,610 31,610
_______ _______
6. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2024 2023
£ £
Mr T J McQuade 6,533 6,533
Mr T A Adamson 9,967 9,967
Mr M F Corrie 2,101 2,101
_______ _______
18,601 18,601
_______ _______