Company registration number 14632227 (England and Wales)
STAR PUPIL BIDCO LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
STAR PUPIL BIDCO LIMITED
COMPANY INFORMATION
Directors
J W Seaton
(Appointed 21 February 2023)
D W Angrave
(Appointed 21 February 2023)
Company number
14632227
Registered office
Building B Hallamshire Business Park
Napier Street
Sheffield
United Kingdom
S11 8HA
Auditor
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
STAR PUPIL BIDCO LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 17
STAR PUPIL BIDCO LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 30 APRIL 2024
- 1 -

The Directors present the strategic report for the period ended 30 April 2024.

Review of the business

The Company acts as an intermediate holding company for certain entities in the Wild Peak Holdings Group. The directors expect the principal activities of the Company to remain the same for the foreseeable future.

During the period the Company acquired Twinkl Limited (and other associated companies) funded by an intra-group loan from the Company’s immediate parent, Star Pupil Topco Limited.

The directors consider the results for the year and the future prospects of the Company to be satisfactory.

Results for the year

Operating loss was £523,359 and the loss before taxation was £47,847,911. The loss for the financial year was transferred to reserves. Net liabilities at 30 April 2024 were £41,340,592.

Principal risks and uncertainties

As the Company only acts as a holding company, its risks are derived from its subsidiary companies, as described below.

STAR PUPIL BIDCO LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 2 -
Promoting the success of the company

This statement is made in accordance with section 414CZA Companies Act 2006 (as amended).

In accordance with their duties under section 172(1) Companies Act 2006, the Company's directors have collectively, and individually, acted in a way that they consider, in good faith, promotes the success of the Company for the benefit of its members as a whole.

In line with the duty to promote the success of the Company for the benefit of its shareholders, the Company must have regard to the overall strategy and direction of the wider Group. Any decisions are considered from the perspective of the Company, ensuring that decisions are beneficial to its stakeholders as well as having regard to the long-term sustainable success of the Group as a whole. 

Engaging with stakeholders

Our key stakeholders, and the ways in which we engage with them, are as follows:

Our team - Most of the Group’s employees are employed by the Company’s direct and indirect trading subsidiaries. As a Group we believe our long-term success is predicated on the commitment and contribution of our team. We promote a culture of collaboration and engage with our team through newsletters, ‘all-hands’ meetings, leadership updates and team surveys.

We provide training and support to our team, to ensure they have the necessary skills to perform their roles effectively. We promote flexible working practices, including remote and hybrid working, and we also aim to be a responsible employer in our approach to the pay and benefits our team receive.

Our customers and suppliers - Most of the Group’s customers and suppliers are those of the Company’s direct and indirect trading subsidiaries. As a Group we invest heavily in resources and processes to offer customers the best quality service with the minimum turnaround time.

We work with a range of suppliers and recognise the importance of these to our operational performance and ability to achieve our long-term goals.  We are committed to working with suppliers who share our values and we seek to maintain strong and mutually beneficial relationships with them.

Our community - Everything we do as a Group supports the global teaching community and we are committed to transforming people's lives through education. All Twinkl resources are teacher-made and can be used by anyone, anywhere, making learning accessible to all.

Our planet - The Group’s main trading subsidiary, Twinkl Ltd, recycles all its office paper and toners, uses only Forest Stewardship Council® certified paper for printing, and office power is wholly supplied from renewable sources. 

On behalf of the board

J W Seaton
Director
30 January 2025
STAR PUPIL BIDCO LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2024
- 3 -

The directors present their annual report and financial statements for the period ended 30 April 2024.

Principal activities

The company was incorporated on 1 February 2023. The principal activity of the company is that of a holding company.

Results and dividends

The results for the period are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

C A Bulger
(Appointed 1 February 2023 and resigned 21 February 2023)
J W Seaton
(Appointed 21 February 2023)
D W Angrave
(Appointed 21 February 2023)
Auditor

The auditor, BHP LLP, has been appointed under section 485 of the Companies Act 2006.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STAR PUPIL BIDCO LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
J W Seaton
Director
30 January 2025
STAR PUPIL BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STAR PUPIL BIDCO LIMITED
- 5 -
Opinion

We have audited the financial statements of Star Pupil Bidco Limited (the 'company') for the period ended 30 April 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

STAR PUPIL BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STAR PUPIL BIDCO LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

 

 

To address the risks of fraud through management bias and override controls, we:

 

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

STAR PUPIL BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STAR PUPIL BIDCO LIMITED (CONTINUED)
- 7 -

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lisa Leighton (Senior Statutory Auditor)
For and on behalf of BHP LLP, Statutory Auditor
Chartered Accountants
2 Rutland Park
Sheffield
S10 2PD
30 January 2025
STAR PUPIL BIDCO LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 APRIL 2024
- 8 -
Period
ended
30 April
2024
Notes
£
Turnover
-
Administrative expenses
(712,482)
Other operating income
189,123
Operating loss
(523,359)
Interest receivable and similar income
5
46,926
Interest payable and similar expenses
6
(47,371,478)
Loss before taxation
(47,847,911)
Tax on loss
7
-
0
Loss for the financial period
(47,847,911)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

STAR PUPIL BIDCO LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 9 -
2024
Notes
£
£
Fixed assets
Investments
8
512,789,033
Current assets
Debtors
10
44,531
Cash at bank and in hand
601,633
646,164
Creditors: amounts falling due within one year
11
(554,775,789)
Net current liabilities
(554,129,625)
Net liabilities
(41,340,592)
Capital and reserves
Called up share capital
14
53,898
Share premium account
5,934,752
Share based payment reserve
518,669
Profit and loss reserves
(47,847,911)
Total equity
(41,340,592)
The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
J W Seaton
Director
Company registration number 14632227 (England and Wales)
STAR PUPIL BIDCO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024
- 10 -
Share capital
Share premium account
Share based payment reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 February 2023
-
0
-
0
-
0
-
0
-
Period ended 30 April 2024:
Loss and total comprehensive income
-
-
-
(47,847,911)
(47,847,911)
Issue of share capital
14
53,898
5,934,752
-
-
5,988,650
Share based payment expense
-
-
518,669
-
518,669
Balance at 30 April 2024
53,898
5,934,752
518,669
(47,847,911)
(41,340,592)
STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 11 -
1
Accounting policies
Company information

Star Pupil Bidco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building B Hallamshire Business Park, Napier Street, Sheffield, United Kingdom, S11 8HA.

1.1
Reporting period

The company was incorporated on 1 February 2023, with its first accounts prepared to 30 April 2024. This is a long period to bring the year end in line with the rest of the group.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Wild Peak Holdings Limited. These consolidated financial statements are available from its registered office, Wards Exchange, Ecclesall Road, Sheffield, England, S11 8HW.

1.3
Going concern

Despite the position of the balance sheet and reserves, due to the nature of the items impacting these, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 12 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Share-based payments

Where the Group has entered into arrangements that are equity-settled share-based payments with certain employees, these are measured at fair value at the date of grant, which is then recognised in the profit and loss account over the expected time to vest, based on the Group's best estimate. Fair value is measured by use of an appropriate model. The charge is adjusted at each balance sheet date to reflect the actual number of shares expected to vest based on non-market performance conditions such as service and employment service conditions where appropriate. The movement in cumulative charges since the previous balance sheet is recognised in the profit and loss account, with a corresponding entry in equity.

STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 14 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The key estimate within the financial statements is the valuation of the fixed asset investments. Performance in the underlying investment is assessed to determine if any impairment is required.

3
Auditor's remuneration
2024
Fees payable to the company's auditor:
£
For audit services
Audit of the financial statements of the company
3,917
For other services
Taxation compliance services
1,100
4
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Directors
2

Their aggregate remuneration comprised:

2024
£
Wages and salaries
534,109
Social security costs
1,922
Pension costs
220
536,251
STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 15 -
5
Interest receivable and similar income
2024
£
Interest income
Interest on bank deposits
46,926
6
Interest payable and similar expenses
2024
£
Interest on fixed rate loan notes
47,371,478
7
Taxation

The actual charge for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

2024
£
Loss before taxation
(47,847,911)
Expected tax credit based on the standard rate of corporation tax in the UK of 24.46%
(11,703,599)
Tax effect of expenses that are not deductible in determining taxable profit
126,877
Group relief
11,576,722
Taxation charge for the period
-
8
Fixed asset investments
2024
Notes
£
Investments in subsidiaries
9
512,789,033
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 February 2023
-
Additions
512,789,033
At 30 April 2024
512,789,033
Carrying amount
At 30 April 2024
512,789,033
STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 16 -
9
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Twinkl Limited
Wards Exchange, 197 Ecclesall Road, Sheffield, England, S11 8HW
Ordinary
100.00
-
Twinkle Limited
Wards Exchange, 197 Ecclesall Road, Sheffield, England, S11 8HW
Ordinary
100.00
-
Twinkl Inc
16192 Coastal Hwy, Lewes, Delaware
Ordinary
100.00
-
Twinkl (Global Holdings) Limited
Wards Exchange, 197 Ecclesall Road, Sheffield, England, S11 8HW
Ordinary
100.00
-
Twinkl Australia Pty Limited
Suite 2, Level 1, 9-11 Grosvenor Street, Neutral Bay, NSW 2089, Australia
Ordinary
-
100.00
Educake Limited
30 St. Giles, Oxford, England, OX1 3LE
Ordinary
-
100.00
Elevate Supply Limited
Building B Hallamshire Business Park, Napier Street, Sheffield, South Yorkshire, S11 8HA
Ordinary
-
100.00
10
Debtors
2024
Amounts falling due within one year:
£
Other debtors
44,531
11
Creditors: amounts falling due within one year
2024
£
Trade creditors
119,196
Amounts owed to group undertakings
554,649,380
Taxation and social security
6,772
Other creditors
441
554,775,789

Included within amounts owed to group undertakings is £499,802,198 of fixed rate loan notes owned by Star Pupil Topco Limited. £490,790,847 of these accrue interest at 8%. At year end there was £47,371,478 accrued interest included within this balance.

12
Retirement benefit schemes
2024
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
220

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

STAR PUPIL BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 17 -
13
Share-based payment transactions

On 21 February 2023 the parent company, Star Pupil Topco Limited, issued 969,000 C ordinary shares to certain employees. These shares are treated as equity-settled share based payments. The Monte Carlo option pricing model has been used to determine the fair value at grant date, in conjunction with a third party valuation specialist.

An expense has been recognised within the Star Pupil Bidco Limited company financial statements. During the period this expense was £518,669

There was a second issue of 206,310 C ordinary shares post year end. No share based payment has been recognised in respect to this.

Inputs for the 21 February 2023 issue were as follows:

Expected volatility
45.53%
Expected life
5 years
Risk free rate
3.556%
14
Share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary share of £1 each
53,898
53,898

All shares were issued in the period.

15
Ultimate controlling party

The direct parent company is Star Pupil Topco Limited. The ultimate controlling party is viewed to be J W Seaton who has a majority shareholding in Wild Peak Holdings Limited.

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