REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
WHITE STAR HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
WHITE STAR HOLDINGS LIMITED |
WHITE STAR HOLDINGS LIMITED (REGISTERED NUMBER: 09590990) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WHITE STAR HOLDINGS LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Rushmills |
Bedford Road |
Northampton |
Northamptonshire |
NN4 7YB |
WHITE STAR HOLDINGS LIMITED (REGISTERED NUMBER: 09590990) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WHITE STAR HOLDINGS LIMITED (REGISTERED NUMBER: 09590990) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
White Star Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
Going concern |
The company is financed by means of continued support from its major creditor and the bank. The directors are of the opinion that this support will not be withdrawn. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment properties |
Investment properties are shown at fair value. Any aggregate surplus' or deficits arising from changes in fair value are recognised in the income statement. |
The cost of properties acquired on the balance sheet represents the committed acquisition price at the balance sheet date by reference to signed purchase agreements. Liabilities recorded in respect of properties acquired represent committed purchase prices less stage payments made as at the balance sheet date. |
Taxation |
Taxation for the year 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
WHITE STAR HOLDINGS LIMITED (REGISTERED NUMBER: 09590990) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
In the opinion of the Directors, the carrying values of the investment properties are at open market value. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Corporation tax |
Other creditors |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other loans - 1-2 years | 320,000 | 300,000 |
Other loans - 2-5 years | 1,365,000 | 1,365,000 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
(1) Joint and several guarantee for £150,000 from the directors |
(2) Unlimited debenture from White Star Holdings Limited |
(3) Deed of postponement or subordination from Opalion Limited in respect of loans given to White Star Holdings Limited |
(4) First legal charge over the investment properties held by White Star Holdings Limited |
8. | RELATED PARTY DISCLOSURES |
The company has a loan from Opalion Limited, a company in which V N Shah is a director. |
The total loan outstanding at 30 September 2024 was £1,685,000 (2023 £1,685,000). |
No interest was charged on the loan during the period. |
WHITE STAR HOLDINGS LIMITED (REGISTERED NUMBER: 09590990) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is A N Shah and V N Shah. |