Company No: 16128091 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mrs A Kelly (Appointed 10 December 2024)
	Mr J Kelly (Appointed 10 December 2024)

REGISTERED OFFICE	24 Barnhill Road Prestwich
	Manchester
	M25 9NH
	United Kingdom

COMPANY NUMBER

16128091 (England and Wales)

CHARTERED ACCOUNTANTS	PM+M Solutions for Business LLP
	New Century House
	Greenbank Technology Park
	Challenge Way
	Blackburn
	BB1 5QB

	Note	31.12.2025
		£
Current assets
Stocks	3	204,996
Debtors	4	30
Cash at bank and in hand		1,695
		206,721
Creditors: amounts falling due within one year	5	( 208,745)
Net current liabilities		(2,024)
Total assets less current liabilities		(2,024)
Net liabilities		( 2,024)
Capital and reserves
Called-up share capital	6	100
Profit and loss account		( 2,124 )
Total shareholders' deficit		( 2,024)

For the financial period ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Kelstar Projects Limited (registered number: 16128091) were approved and authorised for issue by the Board of Directors on 08 September 2026. They were signed on its behalf by:

Mrs A Kelly Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Kelstar Projects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 24 Barnhill Road Prestwich, Manchester, M25 9NH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,783. The Company is supported through loans from an associated Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements are presented for a period longer than one year due to being the company’s first reporting period. As such, comparative amounts presented in future financial statements (including the related notes) are not entirely comparable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Work in progress comprises properties acquired for resale together with renovation and development costs. It is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes purchase price, directly attributable acquisition and refurbishment costs, and an appropriate proportion of directly attributable overheads.

At each reporting date, inventories are assessed for impairment. Where the estimated selling price less costs to complete and sell is lower than cost, a write-down is recognised in profit or loss. Any reversal of a previous write-down is recognised in profit or loss in the period in which it arises.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Period from 10.12.2024 to 31.12.2025
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Stocks

	31.12.2025
	£
Work in progress	204,996

4. Debtors

	31.12.2025
	£
Other debtors	30

5. Creditors: amounts falling due within one year

	31.12.2025
	£
Amounts owed to related parties	206,500
Amounts owed to directors	711
Accruals	1,534
	208,745

6. Called-up share capital

	31.12.2025
	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100