Starmglen Limited - Abbreviated accounts

Starmglen Limited - Abbreviated accounts

STARMGLEN LIMITED - Company Information

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Registered number
01134554
Starmglen Limited
Abbreviated Accounts
31 December 2015
Starmglen Limited
Registered number: 01134554
Abbreviated Balance Sheet
as at 31 December 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 - -
Tangible assets 3 2,152 2,718
Investments 4 146,404 13,948
148,556 16,666
Current assets
Stocks 866,557 757,116
Debtors 5 56,043 50,465
Investments held as current assets - -
Cash at bank and in hand 180,773 466,334
1,103,373 1,273,915
Creditors: amounts falling due within one year (22,911) (94,084)
Net current assets 1,080,462 1,179,831
Total assets less current liabilities 1,229,018 1,196,497
Creditors: amounts falling due after more than one year (387,203) (368,912)
Provisions for liabilities - -
Net assets 841,815 827,585
Capital and reserves
Called up share capital 7 100 100
Share premium - -
Revaluation reserve - -
Capital redemption reserve - -
Profit and loss account 841,715 827,485
Shareholders' funds 841,815 827,585
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
R J Atkinson
Director
Approved by the board on 12 July 2016
Starmglen Limited
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Office equipment 20% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Intangible fixed assets £
Cost
At 1 January 2015 -
Additions -
Disposals -
At 31 December 2015 -
Amortisation
At 1 January 2015 -
Provided during the year -
On disposals -
At 31 December 2015 -
Net book value
At 31 December 2015 -
At 31 December 2014 -
3 Tangible fixed assets £
Cost
At 1 January 2015 7,311
Additions 354
Surplus on revaluation -
Disposals -
At 31 December 2015 7,665
Depreciation
At 1 January 2015 4,593
Charge for the year 920
Surplus on revaluation -
On disposals -
At 31 December 2015 5,513
Net book value
At 31 December 2015 2,152
At 31 December 2014 2,718
4 Investments £
Cost
At 1 January 2015 13,948
Additions 157,646
Disposals (25,190)
At 31 December 2015 146,404
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
[Company name 1] Ordinary - - -
[Company name 2] Ordinary - - -
[Company name 3] Ordinary - - -
[Company name 4] Ordinary - - -
5 Debtors 2015 2014
£ £
Debtors include:
Amounts due after more than one year - -
6 Loans 2015 2014
£ £
Creditors include:
Amounts falling due for payment after more than five years - -
Secured bank loans - -
7 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
B Ordinary shares £1 each - - -
100 100
? Preference shares £1 each - - -
100 100
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each - -
B Ordinary shares £1 each - -
-
? Preference shares £1 each - -
-
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R J Atkinson
[Loan 1] - - - -
[Loan 2] - - - -
J F Atkinson
[Loan 1] - - - -
[Loan 2] - - - -
[Director 3]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 4]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 5]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 6]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 7]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 8]
[Loan 1] - - - -
[Loan 2] - - - -
[Director 9]
[Loan 1] - - - -
[Loan 2] - - - -
- - - -
9 Guarantees made by the company on behalf of directors
Description and terms Maximum Amount paid
liability and incurred
£ £
R J Atkinson
[Guarantee 1] - -
[Guarantee 2] - -
J F Atkinson
[Guarantee 1] - -
[Guarantee 2] - -
[Director 3]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 4]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 5]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 6]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 7]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 8]
[Guarantee 1] - -
[Guarantee 2] - -
[Director 9]
[Guarantee 1] - -
[Guarantee 2] - -
- -
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