STRAWBERRY_STAR_INVESTMEN - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Strawberry Star Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 701 Vauxhall Sky Gardens, 153 Wandsworth Road, London, SW8 2GB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the directors have carefully considered thetrue trading outlook for the coming year and expected cashflows and have reasonable expectations that the company has access to adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

In addition to the above, the ultimate controlling party and the parent company have provided assurance that they will continue to provide financial support to the Strawberry Star group for the foreseeable future and will not seek repayment of their loan balances until the group is able to do so. If the group were unable to obtain this funding, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 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.

Basic financial liabilities, including creditors and loans from fellow group companies 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.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Material uncertainty related to going concern

We draw attention to note 1.2 of the financial statements, concerning the company’s ability to continue as a going concern. The ultimate controlling party has provided assurance that he will continue to provide financial support to the Strawberry Star Group for the foreseeable future. If the group were unable to obtain this funding, it may be unable to continue trading. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

At the year-end the company owed Milan Ventures (S) PTE Ltd, £nil (2020: £196,653) a company which is 100% owned by Mrs Kavitha Santhosh and Mr S Gowda is also a director of the company. Interest is charged at 12% and amount to £nil (2020: £16,733) during the year.

Mrs Kavitha Santhosh is a shareholder of KSD Holdings PTE Ltd.

At the year-end the company owed Mrs Kavitha Santhosh £nil (2020: £50,000). Interest is charged at 12% and amount to £nil (2020: £3,423) during the year.

The company is controlled by its parent company, Strawberry Star Group Limited, a company registered in the UK by virtue of its 100% shareholding in the company.

Strawberry Star Group Limited is controlled by its parent company, Strawberry Star (G) PTE Ltd, a company registered in Singapore by virtue of its 100% shareholding in the company

The ultimate parent company is KSD Holdings PTE Ltd, a company registered in Singapore by virtue of its 100% shareholding in Strawberry Star (G) Pte Ltd.

The ultimate controlling party is Mr S Gowda.

The directors regard KSD Holdings PTE Ltd, a company incorporated in the Singapore, as the largest group into which the company is consolidated.

Group financial statements are prepared by the ultimate parent company and a copy can be obtained from KSD Holdings PTE. Ltd, 1 Raffles Place, #28-02, Singapore, 048616.