Registered number
10676208
Morning Star Holdings Limited
Filleted Accounts
31 March 2024
Morning Star Holdings Limited
Registered number: 10676208
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 400,000 400,000
Current assets
Debtors 4 2,013 3,300
Cash at bank and in hand 30,744 23,963
32,757 27,263
Creditors: amounts falling due within one year 5 (196,332) (196,748)
Net current liabilities (163,575) (169,485)
Total assets less current liabilities 236,425 230,515
Creditors: amounts falling due after more than one year 6 (304,020) (300,000)
Net liabilities (67,595) (69,485)
Capital and reserves
Called up share capital 2 2
Fair Value Reserve 8 (66,356) (66,356)
Profit and loss account (1,241) (3,131)
Shareholders' funds (67,595) (69,485)
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Bell E Hall
Director Director
Approved by the board on 17 October 2024
Morning Star Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investment property
The investment property is included at fair value. Loss on revaluation is recognised in the fair value reserve.
Turnover
Turnover represents the rental income due for this period.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
Investments
3
Other
investments
£
Fair Value
At 1 April 2023 400,000
At 31 March 2024 400,000
Freehold land and buildings are made up wholly of investment property. The property is currently stated at the directors' July 2019 valuation of £400,000.
4 Debtors 2024 2023
£ £
Other debtors 2,013 3,300
5 Creditors: amounts falling due within one year 2024 2023
£ £
Intercompany - Milestone Ltd 23,943 23,943
Directors' Loans 169,504 169,504
Other creditors 2,885 3,301
196,332 196,748
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 304,020 300,000
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 304,020 300,000
The bank loan is secured by a legal charge over the freehold property owned by the company
8 Fair Value Reserve 2024 2023
£ £
At 1 April 2023 (66,356) (66,356)
At 31 March 2024 (66,356) (66,356)
9 Other information
Morning Star Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Coach House Rear of 1a
Page Heath Lane
Bromley
BR1 2DR
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