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REGISTERED NUMBER: SC402619 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STAR INNOVATIONS LIMITED

STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

STAR INNOVATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Mr S Cruickshank





SECRETARY: Mr S Cruickshank





REGISTERED OFFICE: Unit 10 Logman Centre
Greenbank Crescent
Aberdeen
AB12 3BG





REGISTERED NUMBER: SC402619 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 41,118 59,496
41,118 59,496

CURRENT ASSETS
Stocks 24,068 23,025
Debtors 6 316,048 246,067
Cash at bank and in hand 48,010 23,640
388,126 292,732
CREDITORS
Amounts falling due within one year 7 353,157 268,033
NET CURRENT ASSETS 34,969 24,699
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,087

84,195

CREDITORS
Amounts falling due after more than one year 8 (32,783 ) (54,813 )

PROVISIONS FOR LIABILITIES 10 (9,761 ) -
NET ASSETS 33,543 29,382

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 33,443 29,282
SHAREHOLDERS' FUNDS 33,543 29,382

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

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

The director acknowledges his 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.

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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





Mr S Cruickshank - Director


STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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% reducing balance
Motor vehicles - 25% reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2023 - 6 ) .

STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 2,074 22,029 87,969 112,072
Disposals - (1,196 ) (32,187 ) (33,383 )
At 31 March 2024 2,074 20,833 55,782 78,689
DEPRECIATION
At 1 April 2023 - 21,065 31,511 52,576
Charge for year - 240 14,004 14,244
Eliminated on disposal - (1,145 ) (28,104 ) (29,249 )
At 31 March 2024 - 20,160 17,411 37,571
NET BOOK VALUE
At 31 March 2024 2,074 673 38,371 41,118
At 31 March 2023 2,074 964 56,458 59,496

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 87,209
Reclassification/transfer (31,427 )
At 31 March 2024 55,782
DEPRECIATION
At 1 April 2023 26,425
Charge for year 12,790
Reclassification/transfer (21,804 )
At 31 March 2024 17,411
NET BOOK VALUE
At 31 March 2024 38,371
At 31 March 2023 60,784

STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 313,736 239,000
Other debtors 169 5,400
Accruals (694 ) -
Prepayments 2,837 1,667
316,048 246,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 10,037 10,446
Hire purchase contracts (see note 9) 12,311 15,857
Trade creditors 89,301 96,030
Tax 17,937 21,861
Social security and other taxes 2,543 5,046
VAT 100,632 46,440
Other creditors 19,686 -
Credit cards 81,347 54,888
Directors' current accounts 16,051 14,419
Accrued expenses 3,312 3,046
353,157 268,033

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1 - 5 years 13,296 22,887
Hire purchase contracts (see note 9) 19,487 31,926
32,783 54,813

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 12,311 15,857
Between one and five years 19,487 31,926
31,798 47,783

Non-cancellable operating leases
2024 2023
£    £   
Within one year 10,604 -
Between one and five years 32,688 -
43,292 -

STAR INNOVATIONS LIMITED (REGISTERED NUMBER: SC402619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,761 -

Deferred
tax
£   
Movement 9,761
Balance at 31 March 2024 9,761

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr S Cruickshank
Balance outstanding at start of year (14,419 ) (14,529 )
Amounts advanced 11,680 110
Amounts repaid (13,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (16,051 ) (14,419 )

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
STAR INNOVATIONS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Star Innovations Limited for the year ended 31 March 2024 which comprise the Profit and Loss, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Star Innovations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Star Innovations Limited and state those matters that we have agreed to state to the director of Star Innovations Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Star Innovations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Star Innovations Limited. You consider that Star Innovations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Star Innovations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


26 March 2025