STARS UK R&D LTD

Company Registration Number:
14751653 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2024

Period of accounts

Start date: 23 March 2023

End date: 30 March 2024

STARS UK R&D LTD

Contents of the Financial Statements

for the Period Ended 30 March 2024

Balance sheet
Additional notes
Balance sheet notes

STARS UK R&D LTD

Balance sheet

As at 30 March 2024

Notes 2024


£
Fixed assets
Intangible assets: 3 185,461
Total fixed assets: 185,461
Net current assets (liabilities):  
Total assets less current liabilities: 185,461
Total net assets (liabilities): 185,461
Capital and reserves
Called up share capital: 1
Other reserves: 82,805
Profit and loss account: 102,655
Total Shareholders' funds: 185,461

The notes form part of these financial statements

STARS UK R&D LTD

Balance sheet statements

For the year ending 30 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 4 June 2026
and signed on behalf of the board by:

Name: Adam Thorpe
Status: Director

The notes form part of these financial statements

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Intangible fixed assets amortisation policy

    Development costs are capitalised in accordance with FRS 102 Section 18. Amortisation will be charged on a straight-line basis over the estimated useful economic life of 10 years from the point at which the asset is brought into use commercially. The asset is not yet in commercial use and amortisation has not yet commenced.

    Other accounting policies

    1. Government Grants "Innovate UK cash grant income is recognised in the profit and loss account in the period in which the related eligible costs are incurred, consistent with the accruals basis of accounting. All grant tranches were claimed in arrears of expenditure. Non-cash grant contributions from the University of Leeds funded directly by Innovate UK to the University are recognised as capital contributions directly in equity as they represent externally funded development costs that created assets owned by the company." 2. R&D Tax Credits "ERIS credits under the merged RDEC scheme are recognised as a current asset receivable and corresponding income when the qualifying expenditure has been incurred and the credit can be reliably measured. The credit does not reduce the cost base of capitalised development expenditure."

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 2. Employees

    2024
    Average number of employees during the period 7

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 185,461 185,461
Disposals
Revaluations
Transfers
At 30 March 2024 185,461 185,461
Amortisation
Charge for year
On disposals
Other adjustments
At 30 March 2024
Net book value
At 30 March 2024 185,461 185,461

The intangible asset represents internally generated development costs capitalised in accordance with FRS 102 Section 18. The asset comprises the STARS plant-based burger formulation, electrospinning nanofiber processing methodology, protein fractionation methodology and modular kitchen design IP, developed under the Innovate UK Better Food for All project in partnership with the University of Leeds School of Food Science and Nutrition. Stars UK R&D Ltd is the lead partner and IP owner. A provisional patent has been filed covering innovative aspects of the STARS plant-based burger product. The directors consider the recoverable amount of the asset to materially exceed its carrying value of £185,461 based on the commercial exploitation strategy, Innovate UK validation and international franchise pipeline.