Netstar 9 Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04136299 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

NETSTAR 9 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Birchall

REGISTERED OFFICE:

2a Manor House Lane

Preston

Lancashire

PR1 6HL

REGISTERED NUMBER:

04136299 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Intangible assets

4

21,267

27,642

Tangible assets

5

640,422

642,262

661,689

669,904

CURRENT ASSETS

Debtors

6

2,499

2,637

Cash at bank and in hand

60

28,949

2,559

31,586

CREDITORS

Amounts falling due within one year

7

165,627

199,722

NET CURRENT LIABILITIES

(163,068

)

(168,136

)

TOTAL ASSETS LESS CURRENT LIABILITIES

498,621

501,768

CREDITORS

Amounts falling due after more than one year

8

(28,500

)

(34,500

)

PROVISIONS FOR LIABILITIES

(10,798

)

(10,173

)

NET ASSETS

459,323

457,095

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

105,075

105,075

Retained earnings

354,148

351,920

SHAREHOLDERS' FUNDS

459,323

457,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2020 and were signed by:

S M Birchall - Director

1.	STATUTORY INFORMATION

Netstar 9 Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of services.

Goodwill

Goodwill is written off in equal instalments over its useful economic life of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life

Freehold property

- not provided

Improvements to property

- 10% on cost

Fixtures and fittings

- 25% on cost

Motor vehicles

- 25% on cost

Freehold property held by the company is not subject to depreciation. This is a departure from the Companies

Act 2006, stating that all tangible fixed assets should be depreciated over the useful economic life of the asset.

Any depreciation charge on the asset would not, in the opinion of the directors, be material since the property is

maintained to a high standard.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The director believe that the company has sufficient trade and financial resources to continue in operational

existence for the foreseeable future. Thus the Going Concern basis of accounting in preparing the annual

financial statements has been adopted.

Government grants

Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate

as the depreciation on the assets to which the grant relates. The deferred element of the grant is included within

creditors.

Grants of a revenue nature are credited to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2018 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

127,500

AMORTISATION

At 1 January 2019

99,858

Charge for year

6,375

At 31 December 2019

106,233

NET BOOK VALUE

At 31 December 2019

21,267

At 31 December 2018

27,642

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2019

600,000

60,000

27,405

4,694

692,099

Additions

-

-

-

5,500

5,500

At 31 December 2019

600,000

60,000

27,405

10,194

697,599

DEPRECIATION

At 1 January 2019

-

19,500

25,643

4,694

49,837

Charge for year

-

6,000

767

573

7,340

At 31 December 2019

-

25,500

26,410

5,267

57,177

NET BOOK VALUE

At 31 December 2019

600,000

34,500

995

4,927

640,422

At 31 December 2018

600,000

40,500

1,762

-

642,262

Cost or valuation at 31 December 2019 is represented by:

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2003

51,210

-

-

-

51,210

Valuation in 2010

53,865

-

-

-

53,865

Cost

494,925

60,000

27,405

10,194

592,524

600,000

60,000

27,405

10,194

697,599

If freehold land and building had not been revalued they would have been included at the following historical

cost:

31/12/19

31/12/18

£

£

Cost

494,925

494,925

Freehold land and buildings were valued on an open market basis on 31 December 2010 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Prepayments

2,499

2,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Bank loans and overdrafts

26,573

-

Trade creditors

8,915

7,703

Tax

1,201

27,852

Social security and other taxes

5,423

3,995

Other creditors

109,554

131,586

Government grant

6,000

6,000

Credit cards

3,685

2,105

Accruals and deferred income

4,276

20,481

165,627

199,722

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/19

31/12/18

£

£

Government grant

28,500

34,500

9.

RESERVES

Revaluation

reserve

£

At 1 January 2019

and 31 December 2019

105,075

10.	RELATED PARTY DISCLOSURES

Stewart Michael Birchall is also a director of Netstar 9 Consultancy Limited, a company registered in England

and Wales. Included within other creditors at 31 December 2019, was a balance due to Netstar 9 Consultancy

Limited from Netstar 9 Limited of £44,364 (2018: £44,364) No interest was charged on the loan.

NS9 Childcare Limited is the parent company of Netstar 9 Limited. During the year a management charge of

£34,000 (2018: £34,000) was invoiced from NS9 Childcare Limited. Included within other creditors at 31

December 2019 was a balance of £60,897 (2018: £82,933) due to NS9 Childcare Limited. No interest was

charged on the loan.