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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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100Starlings Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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100Starlings Limited |
100Starlings Limited (Registered number: 09479495) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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100Starlings Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Devonshire House |
582 Honeypot Lane |
Stanmore |
MIDDLESEX |
HA7 1JS |
100Starlings Limited (Registered number: 09479495) |
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Statement of Financial Position |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
100Starlings Limited (Registered number: 09479495) |
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Statement of Financial Position - continued |
31 March 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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100Starlings Limited (Registered number: 09479495) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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100Starlings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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100Starlings Limited (Registered number: 09479495) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year ended 31 March 2021, 100Starlings Ltd owed £15,350 to its Directors. This amount is reflected in their respective director's loan accounts in credit balances, which is shown in other creditors under creditors due within one year. Please be advised that both the directors have agreed to provide this loan on an interest free basis and the loan is repayable on demand. |
100Starlings Limited (Registered number: 09479495) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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8. | RELATED PARTY DISCLOSURES |
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Contractor Fees paid to Bluesprite Ltd & ChaosCafe Ltd: |
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During the year ended 31 March 2021, Bluesprite Ltd provided consultancy and management services to the related company, 100Starlings Ltd. Bluesprite Ltd charged 100Starlings Ltd £70,200 for providing this consultancy and management services. The outstanding balance as at 31 March 2021 was £70,200. This service was provided on commercial terms and was charged at fair value, being an arm's length transactions. |
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During the year ended 31 March 2021, ChaosCafe Ltd provided consultancy and management services to the related company, 100Starlings Ltd. ChaosCafe Ltd charged 100Starlings Ltd £156,720 for providing this consultancy and management services. The outstanding balance as at 31 March 2021 was £120,720. This service was provided on commercial terms and was charged at fair value, being an arm's length transactions. |
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Loans provided by ChaosCafe Ltd: |
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During the year ended 31 March 2021, 100Starlings Ltd entered into a loan agreement with a related company, ChaosCafe Ltd. The loan of £115,000 was received as an interest free loan and is repayable on demand. Hence the amounts are being reflected accordingly under Creditors less than one year. |