Blackstar Wealth Management A Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06890397 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

Blackstar Wealth Management A Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C J Humphreys

REGISTERED OFFICE:

17 Wrens Court

Lower Queen Street

Sutton Coldfield

West Midlands

B72 1RT

REGISTERED NUMBER:

06890397 (England and Wales)

ACCOUNTANTS:

Curo Chartered Accountants

Curo House

Greenbox

Westonhall Road

Bromsgrove

Worcestershire

B60 4AL

FIXED ASSETS

Tangible assets

4

-

204

CURRENT ASSETS

Debtors

5

10,699

10,611

Cash at bank and in hand

189

502

10,888

11,113

CREDITORS

Amounts falling due within one year

6

125,690

125,690

NET CURRENT LIABILITIES

(114,802

)

(114,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(114,802

)

(114,373

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(114,902

)

(114,473

)

SHAREHOLDERS' FUNDS

(114,802

)

(114,373

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 April 2020 and were signed by:

C J Humphreys - Director

1.	STATUTORY INFORMATION

Blackstar Wealth Management A 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.

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.

Going concern

The financial statements have been prepared on the going concern basis on the grounds that the directors believe

that there is sufficient funding in place to support the business for the next twelve months from the date of

approval of the financial statements.

Turnover

The amount of turnover is the invoiced value of goods and services supplied to customers, excluding value added

tax, arising from the principal activity of the company.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation is charged to the profit and loss account over the estimated useful lives of each part of an item of

tangible fixed assets. Land is not depreciated. The estimated useful lives are as follows:

Computer equipment - 33% on cost

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant

change since last annual reporting date in the pattern by which the company expects to consume an asset's future

economic benefits.

Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss

account except to the extent that it relates to items recognised directly in equity or other comprehensive income,

in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates

enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of

previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax

assessments in periods different from those in which they are recognised in the financial statements. The

following timing differences are not provided for; differences between accumulated depreciation and tax

allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met;

and differences relating to investments to the extent that it is not probable that they will reverse in the foreseeable

future and the reporting entity is able to control the reversal of the timing difference. Deferred tax is not

recognised on permanent differences arising because certain types of income or expense are non-taxable or are

disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding

income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using

tax rates enacted or substantively enacted at the balance sheet. Deferred tax balances are not discounted.

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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment

losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price,

including any transaction costs, and subsequently measured at amortised cost determined using the effective

interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other

financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently

measured at amortised cost determined using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 2 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2018

and 30 April 2019

1,965

DEPRECIATION

At 1 May 2018

1,761

Charge for year

204

At 30 April 2019

1,965

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

204

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Other debtors

10,111

10,023

Amounts falling due after more than one year:

Other debtors

588

588

Aggregate amounts

10,699

10,611

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

123,950

123,950

Other creditors

1,740

1,740

125,690

125,690

7.	CONTINGENT LIABILITIES

A retrospective change in interpretation of tax legislation has led to a challenge by HM Revenue & Customs

against the tax treatment of an investment scheme operated by the company. This challenge has potentially

resulted in additional employment costs totalling £11,826 being payable by the company.

An accelerated payment notice of £588 has been paid , this has been included in debtors due in more than one

year.