10 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 05898214 2023-09-01 2024-08-31 05898214 2024-08-31 05898214 2023-08-31 05898214 2022-09-01 2023-08-31 05898214 2023-08-31 05898214 2022-08-31 05898214 core:LandBuildings core:ShortLeaseholdAssets 2023-09-01 2024-08-31 05898214 core:PlantMachinery 2023-09-01 2024-08-31 05898214 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 05898214 core:MotorVehicles 2023-09-01 2024-08-31 05898214 bus:RegisteredOffice 2023-09-01 2024-08-31 05898214 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 05898214 bus:Director1 2023-09-01 2024-08-31 05898214 bus:Director2 2023-09-01 2024-08-31 05898214 bus:Director3 2023-09-01 2024-08-31 05898214 core:LandBuildings core:ShortLeaseholdAssets 2023-08-31 05898214 core:PlantMachinery 2023-08-31 05898214 core:FurnitureFittingsToolsEquipment 2023-08-31 05898214 core:MotorVehicles 2023-08-31 05898214 core:LandBuildings core:ShortLeaseholdAssets 2024-08-31 05898214 core:PlantMachinery 2024-08-31 05898214 core:FurnitureFittingsToolsEquipment 2024-08-31 05898214 core:MotorVehicles 2024-08-31 05898214 core:WithinOneYear 2024-08-31 05898214 core:WithinOneYear 2023-08-31 05898214 bus:AllOrdinaryShares 2023-09-01 2024-08-31 05898214 bus:AllOrdinaryShares 2022-09-01 2023-08-31 05898214 core:ShareCapital 2024-08-31 05898214 core:ShareCapital 2023-08-31 05898214 core:RetainedEarningsAccumulatedLosses 2024-08-31 05898214 core:RetainedEarningsAccumulatedLosses 2023-08-31 05898214 core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 05898214 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 05898214 core:LandBuildings core:ShortLeaseholdAssets 2023-08-31 05898214 core:PlantMachinery 2023-08-31 05898214 core:FurnitureFittingsToolsEquipment 2023-08-31 05898214 core:MotorVehicles 2023-08-31 05898214 bus:SmallEntities 2023-09-01 2024-08-31 05898214 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05898214 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05898214 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05898214 bus:FullAccounts 2023-09-01 2024-08-31
Company registration number: 05898214
Five Star Blinds Ltd
Unaudited filleted financial statements
31 August 2024
Five Star Blinds Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Five Star Blinds Ltd
Directors and other information
Directors Mr S Kinsley
Mr J Kinsley
Mrs K Farrelly
Company number 05898214
Registered office 217 Manchester Road
Hollinwood
Oldham
Lancashire
OL8 4QL
Accountant JP Gallagher & Co
106 Moston Lane East
Manchester
M40 3QL
Five Star Blinds Ltd
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 37,522 49,015
_______ _______
37,522 49,015
Current assets
Stocks 45,970 45,940
Debtors 7 7,290 6,404
Cash at bank and in hand 162,517 175,445
_______ _______
215,777 227,789
Creditors: amounts falling due
within one year 8 ( 66,815) ( 115,628)
_______ _______
Net current assets 148,962 112,161
_______ _______
Total assets less current liabilities 186,484 161,176
Provisions for liabilities ( 7,129) ( 11,332)
_______ _______
Net assets 179,355 149,844
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 179,255 149,744
_______ _______
Shareholders funds 179,355 149,844
_______ _______
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.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
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:
Mr S Kinsley
Director
Company registration number: 05898214
Five Star Blinds Ltd
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 217 Manchester Road, Hollinwood, Oldham, Lancashire, OL8 4QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Short leasehold property - 15 % reducing balance
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments 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.
Debt instruments are subsequently measured at amortised cost.
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 in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 10 (2023: 8 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 180,677 180,601
Social security costs 9,246 7,030
Other pension costs 9,155 8,711
_______ _______
199,078 196,342
_______ _______
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 74,585 108,702
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 September 2023 and 31 August 2024 12,665 29,469 17,034 73,612 132,780
_______ _______ _______ _______ _______
Depreciation
At 1 September 2023 8,977 25,105 13,314 36,369 83,765
Charge for the year - 1,644 538 9,311 11,493
_______ _______ _______ _______ _______
At 31 August 2024 8,977 26,749 13,852 45,680 95,258
_______ _______ _______ _______ _______
Carrying amount
At 31 August 2024 3,688 2,720 3,182 27,932 37,522
_______ _______ _______ _______ _______
At 31 August 2023 3,688 4,364 3,720 37,243 49,015
_______ _______ _______ _______ _______
7. Debtors
2024 2023
£ £
Other debtors 7,290 6,404
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 24,804 34,009
Corporation tax 37,128 54,296
Social security and other taxes 3,383 23,067
Other creditors 1,500 4,256
_______ _______
66,815 115,628
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note ) 7,129 11,332
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 7,129 11,332
_______ _______