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REGISTERED NUMBER: 12674365 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SIBSTAR LTD

SIBSTAR LTD (REGISTERED NUMBER: 12674365)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIBSTAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr M D Orton
Mrs J Orton





REGISTERED OFFICE: The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG





REGISTERED NUMBER: 12674365 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG

SIBSTAR LTD (REGISTERED NUMBER: 12674365)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,115 1,630
3,115 1,630

CURRENT ASSETS
Debtors 6 37,192 20,696
Cash at bank 77,891 4,649
115,083 25,345
CREDITORS
Amounts falling due within one year 7 14,500 48,218
NET CURRENT ASSETS/(LIABILITIES) 100,583 (22,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,698

(21,243

)

PROVISIONS FOR LIABILITIES 779 310
NET ASSETS/(LIABILITIES) 102,919 (21,553 )

CAPITAL AND RESERVES
Called up share capital 3 2
Share premium 549,577 124,516
Retained earnings (446,661 ) (146,071 )
SHAREHOLDERS' FUNDS 102,919 (21,553 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SIBSTAR LTD (REGISTERED NUMBER: 12674365)

BALANCE SHEET - continued
30 JUNE 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 28 March 2025 and were signed on its behalf by:




Mr M D Orton - Director



Mrs J Orton - Director


SIBSTAR LTD (REGISTERED NUMBER: 12674365)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Sibstar Ltd 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.

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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Development costs are being amortised evenly over their estimated useful life of nil 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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Development costs are being amortised fully in the year they are incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on reducing balance

Taxation
Taxation for the year 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.


SIBSTAR LTD (REGISTERED NUMBER: 12674365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 112,976
Impairments (112,976 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -

SIBSTAR LTD (REGISTERED NUMBER: 12674365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 2,296
Additions 3,228
At 30 June 2024 5,524
DEPRECIATION
At 1 July 2023 666
Charge for year 1,743
At 30 June 2024 2,409
NET BOOK VALUE
At 30 June 2024 3,115
At 30 June 2023 1,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,200 2,155
Other debtors 35,992 18,541
37,192 20,696

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,801 12,159
Taxation and social security 3,749 -
Other creditors 950 36,059
14,500 48,218

SIBSTAR LTD (REGISTERED NUMBER: 12674365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr M D Orton and Mrs J Orton
Balance outstanding at start of year (5,108 ) (5,108 )
Amounts advanced 20,027 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,919 (5,108 )

The loan was repaid on 30 July 2024.

9. RELATED PARTY DISCLOSURES

Ortibly Property Management Limited

A company in which M Orton and J Orton are shareholders


During the year the company paid consultancy fees of £20,000 (2023: £27,000) to Ortibly Property Management Limited

Bold Creative Limited

A company in which M Orton is director and shareholder


During the year the company paid consultancy fees of £9,550 (2023: £19,400) to Bold Creative Limited.

2024 2023
£    £   
Amount due from related party at the balance sheet date 1,200 -

10. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by M Orton and J Orton.

11. GOING CONCERN

The accounts have been prepared on a going concern basis as in the opinion of the directors the company will become profitable in future years. The directors intend to support the company for the foreseeable future.