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 |