REGISTERED NUMBER: 00956278 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

STARRAG UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G R Eller

M Jager

A Attenberger

SECRETARY:

P Whistance

REGISTERED OFFICE:

43 Phoenix Park

Avenue Close

Nechells

Birmingham

West Midlands

B7 4NU

REGISTERED NUMBER:

00956278 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

BANKERS:

Natwest Bank Plc

169 Victoria Street

London

SW1E 5NA

FIXED ASSETS

Tangible assets

4

460,671

193,709

CURRENT ASSETS

Debtors

5

1,742,711

2,778,823

Cash at bank and in hand

1,933,638

1,728,420

3,676,349

4,507,243

CREDITORS

Amounts falling due within one year

6

1,019,067

1,914,172

NET CURRENT ASSETS

2,657,282

2,593,071

TOTAL ASSETS LESS CURRENT LIABILITIES

3,117,953

2,786,780

CAPITAL AND RESERVES

Called up share capital

8

1,000,000

1,000,000

Retained earnings

2,117,953

1,786,780

SHAREHOLDERS' FUNDS

3,117,953

2,786,780

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

G R Eller - Director

1.	STATUTORY INFORMATION

Starrag UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost and 2% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid and received under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

254,932

265,394

9,700

530,026

Additions

343,680

-

-

343,680

At 31 December 2024

598,612

265,394

9,700

873,706

DEPRECIATION

At 1 January 2024

105,495

221,122

9,700

336,317

Charge for year

57,338

19,380

-

76,718

At 31 December 2024

162,833

240,502

9,700

413,035

NET BOOK VALUE

At 31 December 2024

435,779

24,892

-

460,671

At 31 December 2023

149,437

44,272

-

193,709

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,116,463

586,394

Provision for doubtful debts

(14,232

)

(24,170

)

Amounts owed by group undertakings

547,651

1,503,198

Other debtors

-

3,904

VAT Debtor

-

489,215

Prepayments and accrued income

92,829

220,282

1,742,711

2,778,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

88,985

80,880

Amounts owed to group undertakings

388,441

1,439,675

Tax

133,292

43,002

Social security and other taxes

83,249

78,705

VAT

106,259

97,802

Accruals and deferred income

218,841

174,108

1,019,067

1,914,172

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

155,544

45,632

Between one and five years

139,329

91,263

294,873

136,895

Minimum lease receipts under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

16,500

22,000

Between one and five years

0

16,500

38,500

38,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,525

Ordinary Shares

£1000

1,000,000

1,000,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

10.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

100,688

-

This relates to the purchase of a new Portakabin located on the site of a customer. The commitment is for 25% of the value of the Portakabin that is yet to be paid.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Related Party Disclosure, not to disclose related party transactions or balances with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Starrag Group Holdings Limited, a company registered in England and Wales.

The ultimate controlling party is Starrag Group Holding AG, a company registered in Switzerland.

The largest and smallest group in to which the company's results are consolidated is Starrag Group Holding AG. A copy of the group accounts can be obtained from Starrag Group Holding AG, whose registered office is Seebleichestrasse 6, 9404 Rorschacherberg, Switzerland.