Wandering Star Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02871714 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Wandering Star Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Berrow

SECRETARY:

Ms S H Paddon

REGISTERED OFFICE:

2 Higher Barn

Higher Woodsford

DORCHESTER

Dorset

DT2 8BT

REGISTERED NUMBER:

02871714 (England and Wales)

ACCOUNTANTS:

S&T Accountants Ltd

2 Higher Barn

Higher Woodsford

DORCHESTER

Dorset

DT2 8BT

CURRENT ASSETS

Debtors

4

97,961

628,573

Cash at bank

44,637

27,048

142,598

655,621

CREDITORS

Amounts falling due within one year

5

781,509

792,990

NET CURRENT LIABILITIES

(638,911

)

(137,369

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(638,911

)

(137,369

)

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Retained earnings

(641,911

)

(140,369

)

SHAREHOLDERS' FUNDS

(638,911

)

(137,369

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 27 October 2020 and were signed by:

Mr M Berrow - Director

1.	STATUTORY INFORMATION

Wandering Star Limited 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.

Since the Company's Incorporation in 1993 Intellectual Assets have been purchased totalling £384,447. Section

68 of the Capital Allowances Act 1990 deems all the capital expenditure on the intellectual assets as being

revenue and therefore the intellectual assets are not shown on the balance sheet but are written off on the profit

and loss account.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

82

Amounts owed by group undertakings

97,913

628,491

Other debtors

48

-

97,961

628,573

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

13,130

13,127

Amounts owed to group undertakings

763,992

775,385

Other creditors

4,387

4,478

781,509

792,990

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

All transactions between the Company and its Directors are entered through the Directors Current Accounts.

7.	RELATED PARTY DISCLOSURES

There are inter subsidiary loan accounts shown on the balance sheet with Log Networks Ltd, Wandering Star

Books Ltd and Wandering Star Media Ltd. The bad debts shown on the balance sheet are inter company loans

with Wandering Star Pictures Ltd, Wandering Star Books Ltd, Wandering Star Music Ltd, Wandering Star

Records Ltd and Wandering Star Publishing Ltd