0 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 259,752 259,752 259,752 xbrli:pure xbrli:shares iso4217:GBP 06521090 2023-05-01 2024-04-30 06521090 2024-04-30 06521090 2023-04-30 06521090 2022-05-01 2023-04-30 06521090 2023-04-30 06521090 2022-04-30 06521090 core:Subsidiary1 2023-05-01 2024-04-30 06521090 core:Subsidiary2 2023-05-01 2024-04-30 06521090 core:Subsidiary3 2023-05-01 2024-04-30 06521090 bus:Director1 2023-05-01 2024-04-30 06521090 core:WithinOneYear 2024-04-30 06521090 core:WithinOneYear 2023-04-30 06521090 core:AfterOneYear 2024-04-30 06521090 core:ShareCapital 2024-04-30 06521090 core:ShareCapital 2023-04-30 06521090 core:CapitalRedemptionReserve 2024-04-30 06521090 core:RetainedEarningsAccumulatedLosses 2024-04-30 06521090 core:RetainedEarningsAccumulatedLosses 2023-04-30 06521090 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 06521090 core:Non-currentFinancialInstruments 2024-04-30 06521090 core:Non-currentFinancialInstruments 2023-04-30 06521090 bus:SmallEntities 2023-05-01 2024-04-30 06521090 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06521090 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06521090 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06521090 bus:FullAccounts 2023-05-01 2024-04-30 06521090 core:KeyManagementPersonnel 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 06521090
5 Star Group Holdings
Filleted Unaudited Financial Statements
30 April 2024
5 Star Group Holdings
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
259,752
259,752
Current assets
Cash at bank and in hand
4,281
2,843
Creditors: amounts falling due within one year
6
164,030
112,855
---------
---------
Net current liabilities
159,749
110,012
---------
---------
Total assets less current liabilities
100,003
149,740
Creditors: amounts falling due after more than one year
7
100,000
---------
---------
Net assets
3
149,740
---------
---------
Capital and reserves
Called up share capital
64
100
Capital redemption reserve
37
Profit and loss account
( 98)
149,640
----
---------
Shareholders funds
3
149,740
----
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
5 Star Group Holdings
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr J Locks
Director
Company registration number: 06521090
5 Star Group Holdings
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Broad End Industrial Estate, Broadend Road, Wisbech, Cambs, PE14 7BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 debtors and creditors, loans from banks and other third parties and loans to related parties.
4. Security
The bank holds a fixed and floating charge over the assets of the company. In addition, there is a cross guarantee in place in which 5 Star Group Holdings is a guarantor to 5 Star Cases Limited's (a wholly owned subsidiary) invoice discounting bank account.
5. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
259,752
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
259,752
---------
At 30 April 2023
259,752
---------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
5 Star Cases Limited
ordinary
100
Walsoken Properties Limited
ordinary
100
Mossman Trunks Limited
ordinary
100
All of the companies are registered in England.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
64,030
112,855
Other creditors
100,000
---------
---------
164,030
112,855
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
100,000
---------
----
8. Related party transactions
During the year the company made a purchase of 73 own ordinary shares from a director, at a value of £349,987, which was considered to be the market value. No other transactions were undertaken with related parties such as are required to be disclosed under FRS 102 Section 1A as they were under normal market conditions .