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REGISTERED NUMBER: 12220787 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

FOR

STARLET FARMING LIMITED

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STARLET FARMING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024







DIRECTORS: M A Webber
K J Rickard





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 12220787 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

BALANCE SHEET
31ST MARCH 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 734,028 900,961

CURRENT ASSETS
Stocks 186,096 39,000
Debtors 5 16,505 19,422
Cash in hand 1,500 -
204,101 58,422
CREDITORS
Amounts falling due within one year 6 596,789 361,990
NET CURRENT LIABILITIES (392,688 ) (303,568 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

341,340

597,393

CREDITORS
Amounts falling due after more than one
year

7

1,164,587

1,126,492
NET LIABILITIES (823,247 ) (529,099 )

CAPITAL AND RESERVES
Called up share capital 8 120 120
Retained earnings (823,367 ) (529,219 )
SHAREHOLDERS' FUNDS (823,247 ) (529,099 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 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.

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

BALANCE SHEET - continued
31ST MARCH 2024


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

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 26th February 2025 and were signed on its behalf by:





M A Webber - Director


STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

1. STATUTORY INFORMATION

Starlet Farming 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and 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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or 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 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 period 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.

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st October 2022 400,860 1,052,833 1,453,693
Additions 20,605 - 20,605
At 31st March 2024 421,465 1,052,833 1,474,298
DEPRECIATION
At 1st October 2022 - 552,732 552,732
Charge for period - 187,538 187,538
At 31st March 2024 - 740,270 740,270
NET BOOK VALUE
At 31st March 2024 421,465 312,563 734,028
At 30th September 2022 400,860 500,101 900,961

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st October 2022
and 31st March 2024 39,200
DEPRECIATION
At 1st October 2022 12,250
Charge for period 10,106
At 31st March 2024 22,356
NET BOOK VALUE
At 31st March 2024 16,844
At 30th September 2022 26,950

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 14,123 14,005
Other debtors 1,908 2,632
Directors' current accounts 219 -
VAT 68 2,785
Prepayments 187 -
16,505 19,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 415,568 279,838
Hire purchase contracts 15,295 25,843
Trade creditors 159,946 46,449
Corporation Tax 74 2,632
Social security and other taxes - 1,319
Directors' current accounts 41 3,348
Accruals and deferred income 5,865 2,561
596,789 361,990

STARLET FARMING LIMITED (REGISTERED NUMBER: 12220787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2022
£    £   
HSBC Flexible Business 940,470 1,026,685
HSBC Loan 2,729 18,541
HSBC Bounce back loan 15,883 30,746
Extra business loan 205,505 50,520
1,164,587 1,126,492

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
120 Ordinary £1 120 120

9. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loans at 31 March 2024:
- M A Webber was owed £41 (2022 was owed £3,029)
- K J Rickard owed the company £219 (2022 was owed £319)

10. GOING CONCERN

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.