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Registration number: 00166694

Lodestar Holdings Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Lodestar Holdings Limited

Contents

Company Information

1

Directors' Report

2

Statement of Comprehensive Income

3

Abridged Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Abridged Financial Statements

7 to 11

 

Lodestar Holdings Limited

Company Information

Directors

Mr M Randall FCA

Mr R M Smith

Registered office

Studio 21
SUM Studios
1 Hartley Street
Sheffield
S2 3AQ

 

Lodestar Holdings Limited

Directors' Report for the Year Ended 31 January 2024

The directors present their report and the abridged financial statements for the year ended 31 January 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr M Randall FCA

Mr R M Smith

Principal activity

The principal activity of the company is management of its subsidiary company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................
Mr M Randall FCA
Director

 

Lodestar Holdings Limited

Statement of Comprehensive Income for the Year Ended 31 January 2024

2024
£

2023
£

Profit for the year

35,225

35,574

Total comprehensive income for the year

35,225

35,574

 

Lodestar Holdings Limited

(Registration number: 00166694)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

500,100

500,100

Current assets

 

Debtors

176,629

202,750

Cash at bank and in hand

 

42,099

7,743

 

218,728

210,493

Creditors: Amounts falling due within one year

(43,749)

(38,941)

Net current assets

 

174,979

171,552

Total assets less current liabilities

 

675,079

671,652

Provisions for liabilities

909

1,548

Accruals and deferred income

 

(130)

(117)

Net assets

 

675,858

673,083

Capital and reserves

 

Called up share capital

5

32,450

32,450

Capital redemption reserve

239

239

Retained earnings

643,169

640,394

Shareholders' funds

 

675,858

673,083

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Lodestar Holdings Limited

(Registration number: 00166694)
Abridged Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................

Mr M Randall FCA

Director

 

Lodestar Holdings Limited

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 February 2023

32,450

239

640,394

673,083

Profit for the year

-

-

35,225

35,225

Dividends

-

-

(32,450)

(32,450)

At 31 January 2024

32,450

239

643,169

675,858

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 February 2022

32,450

239

637,270

669,959

Profit for the year

-

-

35,574

35,574

Dividends

-

-

(32,450)

(32,450)

At 31 January 2023

32,450

239

640,394

673,083

 

Lodestar Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Studio 21
SUM Studios
1 Hartley Street
Sheffield
S2 3AQ

These financial statements were authorised for issue by the Board on 18 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is exempt from preparing group accounts in accordance with s399 of the Companies Act 2006 as it is subject to the small companies regime.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Lodestar Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Lodestar Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

Total
£

Cost or valuation

At 1 February 2023

500,100

Provision

Carrying amount

At 31 January 2024

500,100

At 31 January 2023

500,100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Lodestar Estates Limited

Studio 21 SUM Studios
1 Hartley Street
Sheffield
S2 3AQ

England and Wales

Ordinary

99%

99%

Subsidiary undertakings

Lodestar Estates Limited

The principal activity of Lodestar Estates Limited is Forestry and estate management.

 

Lodestar Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

32,450

32,450

32,450

32,450

       

6

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

Interim dividend of £Nil (2023 - £1.00) per ordinary share

32,450

32,450

32,450

32,450

 

 

7

Related party transactions

 

Lodestar Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

30,000

30,000

Summary of transactions with subsidiaries

Lodestar Estates Limited
 During the year the company made a Management charge of £42,500 (2023: £42,500), and received a dividend from its subsidiary of £32,500 (2023: £32,500).
 

Summary of transactions with other related parties

Roger M Smith (a director of the company)
 During the year Mr Smith, together with his spouse, received a dividend of £24,308 (2023: £24,308) and was owed a total of £18,772 (2023: £18,464) by the company at the balance sheet date.
 

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

202,750

202,750

Advanced

75,000

75,000

Repaid

(101,121)

(101,121)

At end of period

176,629

176,629

2023

Subsidiary
£

Total
£

At start of period

177,858

177,858

Advanced

77,692

77,692

Repaid

(52,800)

(52,800)

At end of period

202,750

202,750