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Registered number: 00959170
Star Universal (Gosport) Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 00959170
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 133,514 139,288
133,514 139,288
CURRENT ASSETS
Stocks 281,485 280,004
Debtors 5 133,296 140,611
Cash at bank and in hand 7,515 10,292
422,296 430,907
Creditors: Amounts Falling Due Within One Year 6 (238,972 ) (253,563 )
NET CURRENT ASSETS (LIABILITIES) 183,324 177,344
TOTAL ASSETS LESS CURRENT LIABILITIES 316,838 316,632
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,354 ) (11,449 )
NET ASSETS 306,484 305,183
CAPITAL AND RESERVES
Called up share capital 7 80 80
Revaluation reserve 9 28,755 28,935
Capital redemption reserve 20 20
Profit and Loss Account 277,629 276,148
SHAREHOLDERS' FUNDS 306,484 305,183
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Robinson
Director
Mr Garth Robinson
Director
Mr Adrian Allen
Director
4 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Star Universal (Gosport) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00959170 . The registered office is Unit 2, Clarence Wharf, Mumby Road, Gosport Hants, PO12 1AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 15% reducing balance
Motor Vehicles 25% on cost
Fixtures & Fittings 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 12)
19 12
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 September 2023 150,000 125,324 275,324
As at 31 August 2024 150,000 125,324 275,324
...CONTINUED
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Depreciation
As at 1 September 2023 24,000 112,036 136,036
Provided during the period - 2,774 2,774
Impairment losses 3,000 - 3,000
As at 31 August 2024 27,000 114,810 141,810
Net Book Value
As at 31 August 2024 123,000 10,514 133,514
As at 1 September 2023 126,000 13,288 139,288
Cost or valuation as at 31 August 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost 150,000 61,713 13,480 50,131 275,324
150,000 61,713 13,480 50,131 275,324
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 129,318 136,232
Other debtors 3,978 4,379
133,296 140,611
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 79,633 64,696
Bank loans and overdrafts - 445
Other creditors 104,465 151,289
Taxation and social security 54,874 37,133
238,972 253,563
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 11,244 11,150
Later than one year and not later than five years 17,556 16,415
28,800 27,565
9. Reserves
Revaluation Reserve
£
As at 1 September 2023 28,935
Transfer to profit and loss (180 )
As at 31 August 2024 28,755
10. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of his ownership of 70% of the issued share capital in the company.
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