Company No: 14751653 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
				Restated - note 3
Fixed assets
Intangible assets	5	834,383		295,049
		834,383		295,049
Current assets
Debtors	6	4,378		2,228
Cash at bank and in hand		53		13,523
		4,431		15,751
Creditors: amounts falling due within one year	7	( 718,824)		( 204,544)
Net current liabilities		(714,393)		(188,793)
Total assets less current liabilities		119,990		106,256
Creditors: amounts falling due after more than one year	8	( 318,840)		( 210,864)
Net liabilities		( 198,850)		( 104,608)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 198,950 )		( 104,708 )
Total shareholder's deficit		( 198,850)		( 104,608)

For the financial year ending 30 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Stars UK R&D Ltd (registered number: 14751653) were approved and authorised for issue by the Director on 16 October 2026. They were signed on its behalf by:

A J R Thorpe Director

1. Accounting policies

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

General information and basis of accounting

Stars UK R&D Ltd (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 1 Ingerthorpe Hall Cottages, Markington, Harrogate, HG3 3PD, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities. The Company is supported through loans from the director and a connected company. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes 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.

Prior year adjustment

The accounts for the year ended 30 March 2025 have been restated to include amendments to the Intangible assets, debtors, creditors, plus share capital, Other reserves and profit and loss reserves. Further detail of adjustments are listed on note 3.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

10 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is ten years, once the company trades on this asset commercially. No amortisation has been charged in this period as commercial activity has not started.

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.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Amended accounts

These revised accounts replace the original accounts for the financial year ended 30 March 2026 and are now the statutory accounts for that year.

These accounts have been prepared as at the date of the original accounts, and not as at the date of the revision and accordingly do not deal with events between those dates.

The original financial statements did not present a true and fair view and were therefore deemed to not comply with the Companies Act.

As a result of the amendment work, and the restatement of the prior period, Intangible Assets have reduced by £581,518, Current Assets have reduced by £298,365, Current Creditors have increased by £143,514, Non-current Creditors have increased by £318,840, Share Capital has increased from £1 to £100, Profit and Loss Reserve has reduced by £760,938, and Other Reserves have been reduced by £581,398 to nil.

3. Prior year adjustment

The accounts have been restated to include amendments to all balance sheet areas following a review in the current financial period. This has included correct recognition of share capital, removal of other reserves, reduction of intangible assets, increase in creditors (current and non-current) and a reduction of profit and loss reserves.

		As previously reported		Adjustment		As restated
Year ended 30 March 2025		£		£		£
Intangible assets		579,795		(284,746)		295,049
Debtors		0		2,228		2,228
Cash at bank and in hand		13,279		244		13,523
Creditors (current)		(54,394)		(150,150)		(204,544)
Creditors (non-current)		0		(210,864)		(210,864)
Called up share capital		(1)		(99)		(100)
Profit & loss account		(253,933)		358,641		104,708
Other reserves		(284,746)		284,746		0

4. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		4

5. Intangible assets

	Development costs		Total
	£		£
Cost
At 31 March 2025	295,049		295,049
Additions	539,334		539,334
At 30 March 2026	834,383		834,383
Accumulated amortisation
At 31 March 2025	0		0
At 30 March 2026	0		0
Net book value
At 30 March 2026	834,383		834,383
At 30 March 2025	295,049		295,049

Development costs have been capitalised in accordance with the requirements of FRS 102 and are therefore not treated, for dividend purposes, as a realised loss.
Amortisation has not been charged in this period as commercial activity on these assets had not commenced by the balance sheet date.

6. Debtors

	2026		2025
	£		£
VAT recoverable	4,378		2,228

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	43,360		0
Amounts owed to connected companies	451,185		91,185
Amounts owed to director	108,044		53,851
Accruals	10,500		0
Other taxation and social security	98,793		55,569
Other creditors	6,942		3,939
	718,824		204,544

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to connected companies and the director are repayable on demand and do not bear interest.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Other creditors	318,840		210,864

At the balance sheet date the total Other creditors is made up of deferred income relating to government grants for development costs from Innovate UK. This income will be released at the same rate as the amortisation of the development costs that have been capitalised as intangible assets. As no commercial activity on these assets has commenced by the balance sheet date, no deferred grant income has been released to revenue in the period.