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Registration number: 00689041

Star (Masterpieces) Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2025

 

Star (Masterpieces) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Star (Masterpieces) Limited

Company Information

Director

Mr NG Kramer

Registered office

Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Star (Masterpieces) Limited

(Registration number: 00689041)
Balance Sheet as at 5 April 2025

Note

2025

2024

   

£

£

£

£

Fixed assets

   

 

Investment property

4

 

350,000

 

350,000

Current assets

   

 

Debtors

5

1,330

 

1,056

 

Cash at bank and in hand

 

58,264

 

54,168

 

 

59,594

 

55,224

 

Creditors: Amounts falling due within one year

6

(46,602)

 

(43,120)

 

Net current assets

   

12,992

 

12,104

Total assets less current liabilities

   

362,992

 

362,104

Provisions for liabilities

 

(87,321)

 

(87,321)

Net assets

   

275,671

 

274,783

Capital and reserves

   

 

Called up share capital

300

 

300

 

Other reserves

262,474

 

262,474

 

Retained earnings

12,897

 

12,009

 

Shareholders' funds

   

275,671

 

274,783

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 May 2025
 

.........................................
Mr NG Kramer
Director

 

Star (Masterpieces) Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises amounts invoiced for fees and property rentals received.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

 

Star (Masterpieces) Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Asset class

Depreciation method and rate

Land and buildings

Nil

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4

Investment properties

2025
£

At 6 April

350,000

At 5 April

350,000

 

Star (Masterpieces) Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

The director who is internal to the company considered the fair value of the investment property at 5 April 2025. The basis in determining fair value was an open market valuation. There were nil gains to be recognised in the fair value reserve.

5

Debtors

2025
£

2024
£

Accrued income

1,330

1,056

1,330

1,056

6

Creditors

2025
£

2024
£

Due within one year

Taxation and social security

8,864

9,219

Accruals and deferred income

6,493

3,270

Other creditors

31,245

30,631

46,602

43,120

Included within other creditors is £14,100 (2024 - £14,100) which is secured on the equivalent amount of cash held by the company.

7

Related party transactions

Transactions with the director

Summary of transactions with other related parties

There were other related parties who operated interest free current accounts with the company during the year.

Expenditure with and payables to related parties

2025

Key management
£

Other related parties
£

Amounts payable to related party

9,420

7,724

2024

Key management
£

Other related parties
£

Amounts payable to related party

8,807

7,724