Registered number
02582792
Realstar Ltd
Filleted Accounts
29 September 2024
Realstar Ltd
Registered number: 02582792
Balance Sheet
as at 29 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,514,430 1,515,217
Current assets
Stocks 7,000 8,340
Debtors 4 34,682 71,787
Cash at bank and in hand 1,754 1,754
43,436 81,881
Creditors: amounts falling due within one year 5 (392,006) (345,416)
Net current liabilities (348,570) (263,535)
Total assets less current liabilities 3,165,860 1,251,682
Creditors: amounts falling due after more than one year 6 (32,783) (38,099)
Provisions for liabilities (715,417) (215,417)
Net assets 2,417,660 998,166
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 2,389,483 889,483
Profit and loss account 28,077 108,583
Shareholders' funds 2,417,660 998,166
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.
Romesh Bhardwaj
Director
Approved by the board on 20 June 2025
Realstar Ltd
Notes to the Accounts
for the period from 1 October 2023 to 29 September 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 represents from the rendering of services. 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:
Freehold buildings Nil
Plant and machinery 15% reducing balance
Folklifts 20% reducing balance
Stocksand work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 17 17
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 1,500,000 224,135 15,200 1,739,335
Additions - 1,802 - 1,802
Surplus on revaluation 2,000,000 - - 2,000,000
At 29 September 2024 3,500,000 225,937 15,200 3,741,137
Depreciation
At 1 October 2023 - 209,641 14,477 224,118
Charge for the period - 2,445 144 2,589
At 29 September 2024 - 212,086 14,621 226,707
Net book value
At 29 September 2024 3,500,000 13,851 579 3,514,430
At 30 September 2023 1,500,000 14,494 723 1,515,217
Freehold land and buildings: 2024 2023
£ £
Historical cost 401,873 401,873
Cumulative depreciation based on historical cost - -
401,873 401,873
In the opinion of the director, Mr Romesh Bhardwaj, the market value of the properties as at 30 September 2024 was estimated to £3,500,000.
4 Debtors 2024 2023
£ £
Trade debtors 34,682 71,787
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 44,651 43,884
Trade creditors 64,569 109,110
Taxation and social security costs 38,067 32,471
Other creditors 244,719 159,951
392,006 345,416
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 32,783 38,099
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 889,483 889,483
Deferred taxation arising on the revaluation of land and buildings 1,500,000 -
At 29 September 2024 2,389,483 889,483
8 Other information
Realstar Ltd is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
Middlesex
UB4 0NN
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