STARS UK R&D LTD

Company Registration Number:
14751653 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2026

Period of accounts

Start date: 31 March 2025

End date: 30 March 2026

STARS UK R&D LTD

Contents of the Financial Statements

for the Period Ended 30 March 2026

Balance sheet
Additional notes
Balance sheet notes

STARS UK R&D LTD

Balance sheet

As at 30 March 2026

Notes 2026 2025


£
£
Fixed assets
Intangible assets: 3 1,415,901 579,795
Total fixed assets: 1,415,901 579,795
Current assets
Debtors: 4 302,796
Cash at bank and in hand: 13,279
Total current assets: 302,796 13,279
Creditors: amounts falling due within one year: 5 ( 575,310 ) ( 54,394 )
Net current assets (liabilities): (272,514) (41,115)
Total assets less current liabilities: 1,143,387 538,680
Total net assets (liabilities): 1,143,387 538,680
Capital and reserves
Called up share capital: 1 1
Other reserves: 581,398 284,746
Profit and loss account: 561,988 253,933
Total Shareholders' funds: 1,143,387 538,680

The notes form part of these financial statements

STARS UK R&D LTD

Balance sheet statements

For the year ending 30 March 2026 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 6 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 2026

  • 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 2026

  • 2. Employees

    2026 2025
    Average number of employees during the period 4 8

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2026

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 31 March 2025 579,795 579,795
Additions 836,106 836,106
Disposals
Revaluations
Transfers
At 30 March 2026 1,415,901 1,415,901
Amortisation
At 31 March 2025 0 0
Charge for year
On disposals
Other adjustments
At 30 March 2026 0 0
Net book value
At 30 March 2026 1,415,901 1,415,901
At 30 March 2025 579,795 579,795

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, protein fractionation methodology, oleosome fat scaffold technology and modular kitchen design IP, developed under the Innovate UK Better Food for All and Canada-UK bilateral projects 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 on both projects. Additions in the year include prototype modular kitchen chassis units of £360,000 acquired from Arks UK R&D Ltd, a connected company, and University of Leeds research costs of £296,652 funded directly by Innovate UK to the University as a non-cash capital contribution. 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 £1,415,901 based on the commercial exploitation strategy, Innovate UK validation, provisional patent filing and international franchise pipeline targeting US, Canada, Australia and Asia Pacific.

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2026

4. Debtors

2026 2025
£ £
Other debtors 302,796
Total 302,796

Other debtors comprises government receivables as follows: R&D tax credit receivable from HMRC of £221,490 representing the credit of qualifying expenditure across three accounting periods ending 30 March 2024, 30 March 2025 and 30 March 2026; Innovate UK grant receivable of £77,172 in respect of the Better Food for All project Q8/Q9 grant claim submitted and awaiting payment; VAT receivable from HMRC of £3,740; and pension overpayment receivable of £394. All amounts are due within one year.

STARS UK R&D LTD

Notes to the Financial Statements

for the Period Ended 30 March 2026

5. Creditors: amounts falling due within one year note

2026 2025
£ £
Trade creditors 34,000
Taxation and social security 44,640 680
Other creditors 496,670 53,714
Total 575,310 54,394

Other creditors includes £117,102 owed to Adam Thorpe (director) in respect of funding advanced to the company during the development phase. The loan is interest-free and repayable on demand. No s455 tax charge arises as the balance is owed to the director rather than by the director. Other creditors also includes £360,000 owed to Arks UK R&D Ltd in respect of prototype modular kitchen chassis units acquired in June 2025. Arks UK R&D Ltd is a connected company by virtue of the common directorship of Adam Thorpe. The balance is due for settlement by 30 March 2027.