REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
STARR INVESTMENT HOLDINGS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
STARR INVESTMENT HOLDINGS LTD |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STARR INVESTMENT HOLDINGS LTD |
COMPANY INFORMATION |
for the Year Ended 30th April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
BALANCE SHEET |
30th April 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
BALANCE SHEET - continued |
30th April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th April 2024 |
1. | STATUTORY INFORMATION |
Starr Investment Holdings Limited is a private company limited by share capital, incorporated in England and Wales, registration number 11656792. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business address is Unit 1, Sunmill, Gower Street, Farnworth, Bolton, Lancashire, BL4 7EY. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts. |
Turnover principally consists of rent received or receivable on the lease of commercial property. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Fixtures and fittings | - | 10% on cost |
At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of a tangible fixed asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the tangible fixed asset, the Company estimates the recoverable amount of the cash-generating unit to which the tangible fixed asset belongs. |
If the recoverable amount of a tangible fixed asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Investment property |
Investment property is shown at the fair value at each balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th April 2024 |
2. | ACCOUNTING POLICIES - continued |
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 year 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalent |
Cash and cash equivalents are represented by cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st May 2023 |
and 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th April 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1st May 2023 |
Revaluations | ( |
) |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
Post year end, on the 31st October 2024, the directors instructed a third party valuation on the investment property held. The directors are comfortable that the valuation provided is a true and fair reflection of investment property held at year end. |
If held under the cost model, the valuation of investment property would be £1,493,178 (2023: £1,493,178). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 246,575 | 384,425 |
STARR INVESTMENT HOLDINGS LTD (REGISTERED NUMBER: 11656792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th April 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
National Westminster Bank PLC holds a charge, dated 11th December 2018, creating a fixed and floating charge over Units 1 & 2 Sun Mill, Gower Street, Farnworth, Bolton. |
National Westminster Bank PLC holds a charge, dated 5th December 2018 creating a fixed and floating charge over all the property or undertaking of the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: |
Class |
Nominal Value: |
2024 |
2023 |
£ | £ |
51 | Ordinary A | £1.00 | 51 | 50 |
44 | Ordinary B | £1.00 | 44 | 45 |
5 | Ordinary C | £1.00 | 5 | 5 |
100 | 100 |
During the year, 1 Ordinary B Share was converted into 1 Ordinary A Share. |
11. | RELATED PARTY DISCLOSURES |
Included in Other Creditors are amounts owed to companies under common control of £557,728 (2023: £545,889). These loans are interest free and repayable on demand. |
During the year the company received rental income from companies under common control amounting to £70,000 (2023- £125,444) |