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REGISTERED NUMBER: SC618304 (Scotland)















Financial Statements For The Year Ended 31 January 2024

for

5 Star Events Limited

5 Star Events Limited (Registered number: SC618304)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


5 Star Events Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: Art 5 Consultancy B.v
G Clark
K Boyd





REGISTERED OFFICE: Copland House
150 Edmiston Drive
Glasgow
G51 2XD





REGISTERED NUMBER: SC618304 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

5 Star Events Limited (Registered number: SC618304)

Abridged Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,775 7,546

CURRENT ASSETS
Stocks 18,000 20,000
Debtors 1,730 21,383
Cash at bank 54,696 36,541
74,426 77,924
CREDITORS
Amounts falling due within one year 77,063 53,851
NET CURRENT (LIABILITIES)/ASSETS (2,637 ) 24,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,138

31,619

PROVISIONS FOR LIABILITIES 1,098 1,887
NET ASSETS 2,040 29,732

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,940 29,632
2,040 29,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

5 Star Events Limited (Registered number: SC618304)

Abridged Statement of Financial Position - continued
31 January 2024


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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





G Clark - Director


5 Star Events Limited (Registered number: SC618304)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

5 Star Events Limited is a private company, limited by shares , registered in Scotland. 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 preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Office equipment - 33.33% on cost
Fixtures and fittings - 25% on reducing balance
Plant & machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.


5 Star Events Limited (Registered number: SC618304)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 10,461
Additions 449
At 31 January 2024 10,910
DEPRECIATION
At 1 February 2023 2,915
Charge for year 2,220
At 31 January 2024 5,135
NET BOOK VALUE
At 31 January 2024 5,775
At 31 January 2023 7,546