Registration number:
All Star (UK) Limited
for the Year Ended 31 October 2024
All Star (UK) Limited
Contents
|
Company Information |
|
|
Statement of Financial Position |
|
|
Statement of Changes in Equity |
|
|
Notes to the Unaudited Financial Statements |
All Star (UK) Limited
Company Information
|
Directors |
Mr D Quigley Mr A J McLean Mr A McLean |
|
Company secretary |
Mr A G Morgan |
|
Registered office |
|
|
Accountants |
|
All Star (UK) Limited
(Registration number: SC259461)
Statement of Financial Position as at 31 October 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
3 |
3 |
|
|
Revaluation reserve |
313,543 |
313,543 |
|
|
Retained earnings |
3,120,090 |
3,106,506 |
|
|
Shareholders' funds |
3,433,636 |
3,420,052 |
All Star (UK) Limited
(Registration number: SC259461)
Statement of Financial Position as at 31 October 2024
For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These accounts 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.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
|
......................................... |
|
......................................... |
All Star (UK) Limited
Statement of Changes in Equity for the Year Ended 31 October 2024
|
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
|
At 1 November 2023 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
At 31 October 2024 |
|
|
|
|
|
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
|
At 1 November 2022 |
|
- |
|
|
|
Profit for the year |
- |
- |
|
|
|
Other comprehensive income |
- |
|
- |
|
|
Total comprehensive income |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 October 2023 |
3 |
313,543 |
3,106,506 |
3,420,052 |
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are presented in sterling (£) and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred 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.
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Land and buildings |
not depreciated |
|
Fixtures, fittings & equipment |
25% reducing balance |
|
Motor vehicles |
25% reducing balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 November 2023 |
|
|
|
|
|
At 31 October 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 November 2023 |
- |
|
|
|
|
Charge for the year |
- |
|
|
|
|
At 31 October 2024 |
- |
|
|
|
|
Carrying amount |
||||
|
At 31 October 2024 |
|
|
|
|
|
At 31 October 2023 |
|
|
|
|
Included within the net book value of land and buildings above is £820,000 (2023 - £820,000) in respect of freehold land and buildings.
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
Investments |
|
2024 |
2023 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 November 2023 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 October 2024 |
|
|
At 31 October 2023 |
|
|
Debtors |
|
Note |
2024 |
2023 |
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
|
|
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Taxation and social security |
- |
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
3 |
|
3 |
|
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
|
Revaluation reserve |
Total |
|
|
Surplus/deficit on property, plant and equipment revaluation |
|
|
|
|
||
All Star (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|
Current loans and borrowings
|
2024 |
2023 |
|
|
Bank overdrafts |
|
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|