North Star Corp Limited - Period Ending 2016-03-31

Registration number: 08934303

North Star Corp Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

North Star Corp Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

North Star Corp Limited
(Registration number: 08934303)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets					253,562			1,500
Investments					3,639			-
					257,201			1,500
Current assets
Debtors					83,969			17,122
Cash at bank and in hand					77,351			113,594
					161,320			130,716
Creditors: Amounts falling due within one year					(219,358)			(106,210)
Net current (liabilities)/assets					(58,038)			24,506
Net assets					199,163			26,006
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					199,063			25,906
Shareholders' funds					199,163			26,006

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 19 December 2016 and signed on its behalf by:

.........................................
Mr Nissim Serge Levy
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

North Star Corp Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line on cost

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

North Star Corp Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		2,000			-			2,000
Additions		252,562			3,639			256,201
At 31 March 2016		254,562			3,639			258,201
Depreciation
At 1 April 2015		500			-			500
Charge for the year		500			-			500
At 31 March 2016		1,000			-			1,000
Net book value
At 31 March 2016		253,562			3,639			257,201
At 31 March 2015		1,500			-			1,500

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held
Subsidiary undertakings
MAZAL SRL	Italy	Ordinary shares	50%

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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