Registered number
12300706
North Star Projects Ltd
Filleted Accounts
30 November 2024
North Star Projects Ltd
Registered number: 12300706
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,329 10,092
Current assets
Debtors 4 188,083 83,027
Cash at bank and in hand 104 18,854
188,187 101,881
Creditors: amounts falling due within one year 5 (147,743) (49,533)
Net current assets 40,444 52,348
Total assets less current liabilities 46,773 62,440
Creditors: amounts falling due after more than one year 6 (9,419) -
Provisions for liabilities (1,203) (1,918)
Net assets 36,151 60,522
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,051 60,422
Shareholders' funds 36,151 60,522
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Chaisty
Director
Approved by the board on 17 March 2025
North Star Projects Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, fixtures & fittings over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 18,812
At 30 November 2024 18,812
Depreciation
At 1 December 2023 8,720
Charge for the year 3,763
At 30 November 2024 12,483
Net book value
At 30 November 2024 6,329
At 30 November 2023 10,092
4 Debtors 2024 2023
£ £
Trade debtors 26,085 20,710
Other debtors 161,998 62,317
188,083 83,027
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,066 -
Trade creditors 2,248 2,779
Taxation and social security costs 39,947 24,285
Other creditors 86,482 22,469
147,743 49,533
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 9,419 -
7 Related party transactions
At the balance sheet date, £52,318 was owed to the company by D Barry Solutions Ltd, a company in which Mr D Barry is a director and shareholder, £17,757 was owed to the company by DC PNP Ltd, a company in which Mr D Chaisty is a director and shareholder and £91,302 was owed to the company by North Star Property Ltd, a company in which Mr D Barry and Mr D Chaisty are directors and shareholders. .
8 Controlling party
The company is controlled by the company directors, Mr D Barry and Mr D Chaisty.
9 Other information
North Star Projects Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton on Trent
Staffordshire
DE14 1DU
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