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REGISTERED NUMBER: SC399916 (Scotland)















Unaudited Financial Statements

for the Period 1 June 2023 to 30 January 2024

for

Crossbasket Castle Holdings Limited

Crossbasket Castle Holdings Limited (Registered number: SC399916)






Contents of the Financial Statements
for the Period 1 June 2023 to 30 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

Crossbasket Castle Holdings Limited

Company Information
for the Period 1 June 2023 to 30 January 2024







DIRECTOR: S Timoney





REGISTERED OFFICE: Playsport
Stewartfield Way
East Kilbride
Glasgow
South Lanarkshire
G74 4GT





REGISTERED NUMBER: SC399916 (Scotland)





ACCOUNTANTS: Montroig Consultants Limited
16 Hutchison Drive
Bearsden
Glasgow
Lanarkshire
G61 2LQ

Crossbasket Castle Holdings Limited (Registered number: SC399916)

Balance Sheet
30 January 2024

30.1.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,757,992 15,488,517

CURRENT ASSETS
Debtors 5 555,209 263,125
Cash at bank 410,419 28,052
965,628 291,177
CREDITORS
Amounts falling due within one year 6 22,004,062 15,111,583
NET CURRENT LIABILITIES (21,038,434 ) (14,820,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

719,558

668,111

CAPITAL AND RESERVES
Called up share capital 6,500,100 6,500,100
Retained earnings (5,780,542 ) (5,831,989 )
SHAREHOLDERS' FUNDS 719,558 668,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2024 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 21 October 2024 and were signed by:





S Timoney - Director


Crossbasket Castle Holdings Limited (Registered number: SC399916)

Notes to the Financial Statements
for the Period 1 June 2023 to 30 January 2024

1. STATUTORY INFORMATION

Crossbasket Castle Holdings Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared on the going concern basis of accounting which assumes the continuing support of the director. During the period to 30 January 2024 the company generated an operating profit of £51,447 (2023: loss £2,775), which resulted in Net Assets of £719,558 [2023: £668,111).

The company is dependent on STAR Inc Ltd, as the Group Holding company, to meet its working capital requirements. Accordingly, the Director considers it to be appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the absence of these financial resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 25% on cost and not provided

The company holds property on the Balance Sheet for investment. In accordance with FRS 102 the Director considers that it is appropriate to no longer provide for Depreciation on Improvements to Property, and recognising the increasing Value of this Investment property.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

Crossbasket Castle Holdings Limited (Registered number: SC399916)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 30 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 8,694,974 17,300,209 25,995,183
Additions - 6,289,822 6,289,822
Disposals - (60,009 ) (60,009 )
At 30 January 2024 8,694,974 23,530,022 32,224,996
DEPRECIATION
At 1 June 2023 165,147 10,341,519 10,506,666
Charge for period - 20,347 20,347
Eliminated on disposal - (60,009 ) (60,009 )
At 30 January 2024 165,147 10,301,857 10,467,004
NET BOOK VALUE
At 30 January 2024 8,529,827 13,228,165 21,757,992
At 31 May 2023 8,529,827 6,958,690 15,488,517

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 31.5.23
£    £   
Trade debtors 38,100 27,000
Other debtors 168,951 68,951
VAT 310,658 167,174
Prepayments and accrued income 37,500 -
555,209 263,125

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 31.5.23
£    £   
Other loans 20,934,136 14,959,149
Trade creditors 1,038,143 124,526
Directors' current accounts 27,908 27,908
Accrued expenses 3,875 -
22,004,062 15,111,583

7. POST BALANCE SHEET EVENTS

On 31 January 2024 the company was involved in a Group Restructure, with ownership being transferred
to a new holding company STAR Inc Ltd, a company jointly owned by Mr S Timoney and Mrs A Timoney.

8. ULTIMATE CONTROLLING PARTY

Mr S Timoney and Mrs A Timoney

Crossbasket Castle Holdings Limited (Registered number: SC399916)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 30 January 2024

9. RELATED PARTY DISCLOSURE: LOCHLANE INVESTMENTS LIMITED

A company over which Mr S Timoney and Mrs A Timoney have control.

As at the year end the company borrowed, as a short-term loan, £20,934,136 (2023: £14,959,136) from a related party, Lochlane Investments Limited, a company under common control. There are no fixed terms of repayment.

During the period, the company made no cost recharges to Lochlane Investments Ltd (2023: £Nil).

10. RELATED PARTY DISCLOSURE: CROSSBASKET NURSERY LIMITED

A company over which Mr S Timoney and Mrs A Timoney have control.

During the period the company charged rent to Crossbasket Nursery Ltd, as tenant of Crossbasket Nursery, amounting to £29,600 (2023: £44,400).

11. RELATED PARTY DISCLOSURE: CROSSBASKET CASTLE LIMITED

A company over which Mr S Timoney and Mrs A Timoney have control.

As at the period end the company lent, as a short-term loan, £38,952 (2023: £38,952) to a related party, Crossbasket Castle Limited, a company under common control. There are no fixed terms of repayment.

During the period, the company made rent charges to Crossbasket Castle Ltd, as tenant of Crossbasket Castle, of £82,500 (2023: £90,000).

Crossbasket Castle Holdings Limited

Report of the Accountants to the Director of
Crossbasket Castle Holdings Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 30 January 2024 set out on pages one to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Montroig Consultants Limited
16 Hutchison Drive
Bearsden
Glasgow
Lanarkshire
G61 2LQ


21 October 2024