Allstar Traders Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05809933 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ALLSTAR TRADERS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs R Stern

SECRETARY:

Mrs R Stern

REGISTERED OFFICE:

7 The Gardens

Clapton Common

London

E5 9AZ

REGISTERED NUMBER:

05809933 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

2,453

2,886

Investment property

5

91,601

91,601

94,054

94,487

CURRENT ASSETS

Investments

6

40,500

40,500

Cash at bank

63,500

59,310

104,000

99,810

CREDITORS

Amounts falling due within one year

7

(144,356

)

(144,757

)

NET CURRENT LIABILITIES

(40,356

)

(44,947

)

TOTAL ASSETS LESS CURRENT LIABILITIES

53,698

49,540

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

53,696

49,538

SHAREHOLDERS' FUNDS

53,698

49,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 20 February 2024 and were signed by:

Mrs R Stern - Director

1.	STATUTORY INFORMATION

Allstar Traders 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

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.

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 3 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2022

and 31 May 2023

11,487

1,335

12,822

DEPRECIATION

At 1 June 2022

8,601

1,335

9,936

Charge for year

433

-

433

At 31 May 2023

9,034

1,335

10,369

NET BOOK VALUE

At 31 May 2023

2,453

-

2,453

At 31 May 2022

2,886

-

2,886

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2022

and 31 May 2023

91,601

NET BOOK VALUE

At 31 May 2023

91,601

At 31 May 2022

91,601

6.	CURRENT ASSET INVESTMENTS

31.5.23

31.5.22

£

£

Unlisted investments

40,500

40,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Tax

1,076

440

Other creditors

86,526

86,873

Directors' current accounts

55,974

55,974

Accrued expenses

780

1,470

144,356

144,757

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 June 2022

49,538

Profit for the year

4,158

At 31 May 2023

53,696

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs R Stern.