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REGISTERED NUMBER: 03268293 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NORTH STAR SUSSEX LIMITED

NORTH STAR SUSSEX LIMITED (REGISTERED NUMBER: 03268293)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NORTH STAR SUSSEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: M L Buckle





SECRETARY: K Buckle





REGISTERED OFFICE: London Road
Sayers Common
West Sussex
BN6 9HZ





REGISTERED NUMBER: 03268293 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

NORTH STAR SUSSEX LIMITED (REGISTERED NUMBER: 03268293)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,544 60,375

CURRENT ASSETS
Stocks 1,609,272 1,470,486
Debtors 5 107,224 107,761
Cash in hand 7,353 2,226
1,723,849 1,580,473
CREDITORS
Amounts falling due within one year 6 1,057,973 958,318
NET CURRENT ASSETS 665,876 622,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

731,420

682,530

CREDITORS
Amounts falling due after more than one
year

7

(16,667

)

(100,485

)

PROVISIONS FOR LIABILITIES 9 (16,386 ) (15,094 )
NET ASSETS 698,367 566,951

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 688,367 556,951
698,367 566,951

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 February 2025 and were signed by:





M L Buckle - Director


NORTH STAR SUSSEX LIMITED (REGISTERED NUMBER: 03268293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

North Star Sussex 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.

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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Turnover comprises sales of second hand motor vehicles.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

NORTH STAR SUSSEX LIMITED (REGISTERED NUMBER: 03268293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES

The average number of employees during the year was 20 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 January 2024 7,671 134,790 142,461
Additions - 22,109 22,109
At 31 December 2024 7,671 156,899 164,570
DEPRECIATION
At 1 January 2024 1,534 80,552 82,086
Charge for year 767 16,173 16,940
At 31 December 2024 2,301 96,725 99,026
NET BOOK VALUE
At 31 December 2024 5,370 60,174 65,544
At 31 December 2023 6,137 54,238 60,375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5 1,000
Amounts owed by associates 900 750
Directors' loan accounts 66,659 70,568
Tax 23,677 23,817
Prepayments 15,983 11,626
107,224 107,761

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 880,348 799,216
Hire purchase contracts 5,705 11,924
Trade creditors 57,798 79,089
Tax 40,147 139
Social security and other taxes 13,060 40,381
VAT 57,167 6,355
Other creditors 1,000 11,179
Deferred income - 5,700
Accrued expenses 2,748 4,335
1,057,973 958,318

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,667 40,000
Bank loans - 2-5 years - 56,667
Hire purchase contracts - 3,818
16,667 100,485

NORTH STAR SUSSEX LIMITED (REGISTERED NUMBER: 03268293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 56,667 96,667

There is a fixed and floating charge, containing a negative pledge, which covers the company's assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 16,386 15,094

Deferred
tax
£   
Balance at 1 January 2024 15,094
Provided during year 1,292
Balance at 31 December 2024 16,386

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:
20242023
££
Balance outstanding at start of year70,56870,155
Amounts Advanced64,29171,113
Amounts repaid(68,200)(70,700)
Balance outstanding at end of year66,65970,568