Startech Partners Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC177504

Startech Partners Limited

Filleted Unaudited Financial Statements

For the year ended

31 August 2024

Startech Partners Limited

Statement of Financial Position

31 August 2024

	2024		2023
			(restated)
Note	£	£	£

Fixed assets

Tangible assets	5	3,230	–
Investments	6	–	26,544
		-------	--------
		3,230	26,544

Current assets

Debtors	7	1,143	703
Cash at bank and in hand		589,529	10,518
		---------	--------
		590,672	11,221

Creditors: amounts falling due within one year	8	170,416		59,009
		---------		--------
Net current assets/(liabilities)			420,256	( 47,788)
			---------	--------
Total assets less current liabilities			423,486	( 21,244)

Provisions	808	–
	---------	--------
Net assets/(liabilities)	422,678	( 21,244)
	---------	--------

Capital and reserves

Called up share capital	9	10,000	10,000
Profit and loss account		412,678	( 31,244)
		---------	--------
Shareholders funds/(deficit)		422,678	( 21,244)
		---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2024 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:

G A Eadie
Director

Company registration number: SC177504

Startech Partners Limited

Notes to the Financial Statements

Year ended 31 August 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 2, Ground Floor Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The director has assessed the company's ability to continue as a going concern and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	33% straight line

Investments

Investments held as fixed assets are held at historic cost.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 September 2023 (as restated)	9,445
Additions	3,321
	--------
At 31 August 2024	12,766
	--------
Depreciation
At 1 September 2023	9,445
Charge for the year	91
	--------
At 31 August 2024	9,536
	--------
Carrying amount
At 31 August 2024	3,230
	--------
At 31 August 2023	–
	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 September 2023 as restated	26,544
Disposals	( 26,544)
	--------
At 31 August 2024	–
	--------
Impairment
At 1 September 2023 as restated and 31 August 2024	–
	--------

Carrying amount
At 31 August 2024	–
	--------
At 31 August 2023	26,544
	--------

Investments held as fixed assets are stated at historic cost.

7. Debtors

	2024	2023
		(restated)
	£	£
Other debtors	1,143	703
	-------	----

8. Creditors: amounts falling due within one year

	2024	2023
		(restated)
	£	£
Corporation tax	159,023	–
Other creditors	11,393	59,009
	---------	--------
	170,416	59,009
	---------	--------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
			(restated)
	No.	£	No.	£
Ordinary shares of £ 0.10 each	100,000	10,000	100,000	10,000
	---------	--------	---------	--------

10. Prior period adjustment

A prior year adjustment has been made to correct the 2023 brought forward directors loan accounts relating to a historical error of repaid balances. The directors consider its recognition to be required to present a true and fair view of the company. Net liabilities originally stated as at 31 August 2023 were £23,244. The restatement reduces directors loan account by £2,000 and increases the retained earnings brought forward by £2,000. The restated net liabilities are £21,244 as a result of this adjustment.