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Registration number: 11824174

AppStart Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

AppStart Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

AppStart Ltd

Company Information

Director

Mr Paris Val-Baker

Registered office

Tree Top Chalet
St Buryan
Penzance
Cornwall
TR19 6EZ

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

AppStart Ltd

(Registration number: 11824174)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,783

28,566

Current assets

 

Debtors

5

107,813

67,054

Cash at bank and in hand

 

18,465

1,675

 

126,278

68,729

Creditors: Amounts falling due within one year

6

(72,281)

(23,715)

Net current assets

 

53,997

45,014

Net assets

 

81,780

73,580

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

81,680

73,480

Shareholders' funds

 

81,780

73,580

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 February 2025
 

.........................................
Mr Paris Val-Baker
Director

 

AppStart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tree Top Chalet
St Buryan
Penzance
Cornwall
TR19 6EZ

These financial statements were authorised for issue by the director on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AppStart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% reducing balance basis

Land

N/A

Office

2% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

AppStart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

28,305

4,435

32,740

At 29 February 2024

28,305

4,435

32,740

Depreciation

At 1 March 2023

2,183

1,991

4,174

Charge for the year

416

367

783

At 29 February 2024

2,599

2,358

4,957

Carrying amount

At 29 February 2024

25,706

2,077

27,783

At 28 February 2023

26,122

2,444

28,566

Included within the net book value of land and buildings above is £25,706 (2023 - £26,122) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

24,780

-

Other debtors

83,033

67,054

 

107,813

67,054

 

AppStart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

65,722

22,155

Accruals and deferred income

1,559

1,560

Other creditors

5,000

-

72,281

23,715

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

8

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr Paris Val-Baker

Interest-free loan, repayable on demand

67,054

83,751

(67,772)

83,033

         
       

 

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr Paris Val-Baker

Interest-free loan, repayable on demand

20,843

71,003

(24,792)

67,054