Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31falsetrue2023-04-01development, purchase and sale of real estate11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10736089 2023-04-01 2024-03-31 10736089 2022-03-31 2023-03-31 10736089 2024-03-31 10736089 2023-03-31 10736089 c:Director1 2023-04-01 2024-03-31 10736089 d:CurrentFinancialInstruments 2024-03-31 10736089 d:CurrentFinancialInstruments 2023-03-31 10736089 d:Non-currentFinancialInstruments 2024-03-31 10736089 d:Non-currentFinancialInstruments 2023-03-31 10736089 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10736089 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10736089 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10736089 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10736089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10736089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10736089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10736089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10736089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 10736089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10736089 d:ShareCapital 2024-03-31 10736089 d:ShareCapital 2023-03-31 10736089 d:RetainedEarningsAccumulatedLosses 2024-03-31 10736089 d:RetainedEarningsAccumulatedLosses 2023-03-31 10736089 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10736089 c:OrdinaryShareClass1 2024-03-31 10736089 c:OrdinaryShareClass1 2023-03-31 10736089 c:FRS102 2023-04-01 2024-03-31 10736089 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10736089 c:FullAccounts 2023-04-01 2024-03-31 10736089 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10736089 6 2023-04-01 2024-03-31 10736089 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10736089









STARSCAPE 2 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
STARSCAPE 2 LIMITED
REGISTERED NUMBER: 10736089

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,000
419,322

Current assets
  

Stocks
 5 
925,000
1,177,000

Debtors: amounts falling due within one year
 6 
622,855
506,496

Cash at bank and in hand
 7 
1,671
-

  
1,549,526
1,683,496

Creditors: amounts falling due within one year
 8 
(7,613,588)
(7,577,805)

Net current liabilities
  
 
 
(6,064,062)
 
 
(5,894,309)

Total assets less current liabilities
  
(6,063,062)
(5,474,987)

Creditors: amounts falling due after more than one year
 9 
(3,217,659)
(3,224,170)

  

Net liabilities
  
(9,280,721)
(8,699,157)


Capital and reserves
  

Called up share capital 
 11 
10
10

Profit and loss account
  
(9,280,731)
(8,699,167)

  
(9,280,721)
(8,699,157)


Page 1

 
STARSCAPE 2 LIMITED
REGISTERED NUMBER: 10736089
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2025.




J R Garside
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Starscape 2 Limited is a private company, limited by shares and is incorporated in England and Wales. The address of the registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. The principal activity of company is the management, purchase and sale of real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the company has net liabilities in the statement of financial position of £9,280,721 (2023 - £8,699,157). However liabilties includes £6,892,683 (2023 - £6,665,675), owed to group companies who have confirmed their willingness to finance any shortages int he company's day to day finances and for such an arrangement to continue for a period of not less than one year from the date the financial statements were approved.
At the time of approving the financial statements, the director has a reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
419,322



At 31 March 2024

419,322



Impairment


Charge for the period
418,322



At 31 March 2024

418,322



Net book value



At 31 March 2024
1,000



At 31 March 2023
419,322

Page 5

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Stock of property
925,000
1,177,000


Page 6

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
122,886
109,936

Amounts owed by group undertakings
278,216
278,966

Other debtors
221,753
117,594

622,855
506,496



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,671
-



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
194,729

Trade creditors
19,110
79,823

Amounts owed to group undertakings
6,892,683
6,665,675

Other taxation and social security
20,693
-

Other creditors
218,281
571,120

Accruals and deferred income
452,821
66,458

7,613,588
7,577,805


Page 7

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,217,659
3,224,170


Bank borrowings are secured against the assets of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable other than by instalments
3,200,771
3,201,334




10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
194,729

Amounts falling due 1-2 years

Bank loans
10,000
-

Amounts falling due 2-5 years

Bank loans
6,888
-

Amounts falling due after more than 5 years

Bank loans
3,200,771
3,224,170

3,227,659
3,418,899



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £0.01 each
10
10


Page 8

 
STARSCAPE 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

Included within debtors due within one year is an amount of £278,216 (2023 - £278,966) from the company under common control.
Included within creditors due within one year is an amount of £6,892,683 
(2023 - £6,665,675) to the company under common control.


13.


Controlling party

The controlling party of the company is Starscape Limited incorporated in England and Wales.
The immediate parent company is Starscape Limited, incorporated in England and Wales. No consolidated accounts are prepared for this group as the parent has utilised their exemption to prepare group accounts.

 
Page 9