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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2019 |
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GUNSTAR LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2019 |
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FOR |
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GUNSTAR LIMITED |
GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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GUNSTAR LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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BALANCE SHEET |
31 JANUARY 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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1. | STATUTORY INFORMATION |
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Gunstar Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Turnover represents revenue, net of VAT, from commercial transactions under which the company |
supplies customers the goods and services that it is in business to provide and it is recognised when it |
obtains, though performance under contract, the right to consideration for those goods and services. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of |
financial assets and liabilities like trade and other accounts receivable and payable, loans from banks |
and other third parties, and loans to related parties. |
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Debt instruments that are payable or receivable within one year, are measured, initially and |
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or |
received; other debt instruments are initially measured at present value of the future payments and |
subsequently at amortised cost using the effective interest method. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each |
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an |
impairment loss is recognised in profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the balance sheet only when |
there is an 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. |
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GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 February 2018 |
and 31 January 2019 |
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AMORTISATION |
At 1 February 2018 |
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Charge for year |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 February 2018 |
and 31 January 2019 |
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DEPRECIATION |
At 1 February 2018 |
and 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | DEFERRED TAX |
£ |
Balance at 1 February 2018 | ( |
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Charge to Statement of Comprehensive Income during year |
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Balance at 31 January 2019 | ( |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary Shares | £1 | 100 | 100 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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GUNSTAR LIMITED (REGISTERED NUMBER: 04151789) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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11. | CONTINGENT LIABILITIES |
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The company is registered under a group scheme for VAT purposes and the group members are |
jointly and severally liable for the group's VAT liabilities. |
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12. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
party transactions with wholly owned subsidiaries within the group. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Mr S L Kidger, director of the company's parent company Friday Media |
Group Limited, a company registered in England & Wales. |