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Company No: 13878884 (England and Wales)

STARS CORPORATE LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

STARS CORPORATE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

STARS CORPORATE LIMITED

BALANCE SHEET

As at 30 June 2024
STARS CORPORATE LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Intangible assets 3 19,158 22,114
Tangible assets 4 68,486 90,966
87,644 113,080
Current assets
Debtors 5 46,718 10,682
Cash at bank and in hand 8,036 12,081
54,754 22,763
Creditors: amounts falling due within one year 6 ( 140,589) ( 97,885)
Net current liabilities (85,835) (75,122)
Total assets less current liabilities 1,809 37,958
Net assets 1,809 37,958
Capital and reserves
Called-up share capital 7 50 50
Capital redemption reserve 50 50
Profit and loss account 1,709 37,858
Total shareholder's funds 1,809 37,958

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Stars Corporate Limited (registered number: 13878884) were approved and authorised for issue by the Director on 27 January 2025. They were signed on its behalf by:

S Bayston
Director
STARS CORPORATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
STARS CORPORATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Stars Corporate Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Offices 18 & 19 Drewitt House, 865 Ringwood Road, Bournemouth, BH11 8LW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance or straight line basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
30.06.2024
Period from
28.01.2022 to
30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 3

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 July 2023 24,000 1,668 25,668
At 30 June 2024 24,000 1,668 25,668
Accumulated amortisation
At 01 July 2023 3,400 154 3,554
Charge for the financial year 2,400 556 2,956
At 30 June 2024 5,800 710 6,510
Net book value
At 30 June 2024 18,200 958 19,158
At 30 June 2023 20,600 1,514 22,114

4. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 50,908 51,807 242 2,837 105,794
Additions 821 0 0 0 821
At 30 June 2024 51,729 51,807 242 2,837 106,615
Accumulated depreciation
At 01 July 2023 10,859 2,896 34 1,039 14,828
Charge for the financial year 10,046 12,228 81 946 23,301
At 30 June 2024 20,905 15,124 115 1,985 38,129
Net book value
At 30 June 2024 30,824 36,683 127 852 68,486
At 30 June 2023 40,049 48,911 208 1,798 90,966

5. Debtors

30.06.2024 30.06.2023
£ £
Trade debtors 5,750 5,250
Other debtors 40,968 5,432
46,718 10,682

6. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Bank loans (secured £ 5,360) 7,398 1,233
Corporation tax 30,687 10,109
Other taxation and social security 845 1,878
Other creditors 101,659 84,665
140,589 97,885

The loan is secured against the assets of the company.

7. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50

8. Related party transactions

Transactions with the entity's director

30.06.2024 30.06.2023
£ £
Key management 35,536 0

No interest has been charged on the overdrawn directors loan account.