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REGISTERED NUMBER: 05890218 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CHARTERSTAR LIMITED

CHARTERSTAR LIMITED (REGISTERED NUMBER: 05890218)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CHARTERSTAR LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mr B W Ritchie
Mr B A Palos
Mr J S D A Rust



SECRETARY: Mr J S D A Rust



REGISTERED OFFICE: 59-60 Grosvenor Street
Mayfair
London
W1K 3HZ



REGISTERED NUMBER: 05890218 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Adam Howard Moody FCCA



AUDITORS: Raffingers LLP, Statutory Auditor
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

CHARTERSTAR LIMITED (REGISTERED NUMBER: 05890218)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
£    £   

CREDITORS
Amounts falling due within one year 95,761 94,486
NET CURRENT LIABILITIES (95,761 ) (94,486 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(95,761

)

(94,486

)

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 7,198 7,198
Retained earnings (102,961 ) (101,686 )
SHAREHOLDER FUNDS (95,761 ) (94,486 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





Mr J S D A Rust - Director


CHARTERSTAR LIMITED (REGISTERED NUMBER: 05890218)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Charterstar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of accounting
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention, and on the going concern basis.

Charterstar Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available. Exemptions have been taken in relation to financial instruments, presentation of a cash flow statement and intra-group transactions.

Going concern
The company incurred a loss for the year and at the balance sheet date its current liabilities exceeded its current assets. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the continued support of the parent company with funding provided as and when necessary to the company so that it can meet its working capital and investment requirements. The parent company has also undertaken to provide a letter of support. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Taxation
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

CHARTERSTAR LIMITED (REGISTERED NUMBER: 05890218)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises income in relation to the sale of properties and is recognised on the point of completion and originated in the United Kingdom.

Rental income
Rental income is measured at the fair value of the consideration received or receivable on an accruals basis and is stated net of discounts and VAT.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Stock of properties
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based upon estimated selling price, less costs to be incurred to completion and disposal.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adam Howard Moody FCCA (Senior Statutory Auditor)
for and on behalf of Raffingers LLP, Statutory Auditor

5. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Prime London Residential Limited by virtue of its ownership of the entire issued share capital.

The smallest and largest group in which the results of the company will be consolidated is Prime London Residential Limited whose accounts can be obtained from 59-60 Grosvenor Street, Mayfair, London, W1K 3HZ.