Starlight Design Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 02161071 (England and Wales)
Starlight Design Limited
Company Information
Directors
M Lakin
J Kellett
I Bakker
M Rumble
R Platt
Secretary
J Kellett
Company number
02161071
Registered office
6th Floor Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Starlight Design Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Starlight Design Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,384,742
4,558,793
Investment properties
4
1,378,200
1,378,200
Investments
5
1
1
5,762,943
5,936,994
Current assets
Stock
6
78,119
72,592
Debtors
7
307,359
204,790
Cash at bank and in hand
3,283,182
2,376,510
3,668,660
2,653,892
Creditors: amounts falling due within one year
8
(1,701,276)
(951,598)
Net current assets
1,967,384
1,702,294
Total assets less current liabilities
7,730,327
7,639,288
Creditors: amounts falling due after more than one year
9
(2,853,286)
(2,997,128)
Provisions for liabilities
10
(124,329)
(129,155)
Net assets
4,752,712
4,513,005
Capital and reserves
Called up share capital
11
17,307
17,307
Share premium account
97,500
97,500
Capital redemption reserve
1,923
1,923
Profit and loss reserves
4,635,982
4,396,275
Total equity
4,752,712
4,513,005
Starlight Design Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
R Platt
Director
Company Registration No. 02161071
Starlight Design Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Starlight Design Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold building - trade element
50 years straight line
Leasehold improvements
5 years straight line
Plant and machinery
3 years straight line
Fixtures, fittings & equipment
3 years straight line
Motor vehicles
25% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Starlight Design Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.4
Investment properties

The property is a mixed used asset. Part of it is in relation to trade and part of it has been deemed an investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised 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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

 

Stock held for distribution at no or nominal consideration is measured at cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
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.

1.9
Financial instruments

The company only has basic financial instruments measured at amortised cost with no financial instruments classified as other or basic instruments measured at fair value.

Starlight Design Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
1.10
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
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.

1.13
Retirement benefits

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

Starlight Design Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
2
Employees

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

2024
2023
Number
Number
Total
24
24
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
4,399,446
3,019,268
7,418,714
Additions
-
0
135,027
135,027
At 31 December 2024
4,399,446
3,154,295
7,553,741
Depreciation and impairment
At 1 January 2024
207,390
2,652,531
2,859,921
Depreciation charged in the year
86,882
222,196
309,078
At 31 December 2024
294,272
2,874,727
3,168,999
Carrying amount
At 31 December 2024
4,105,174
279,568
4,384,742
At 31 December 2023
4,192,056
366,737
4,558,793
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,378,200

The investment property is part of a mixed use asset. Part of it is used in relation to the company's trade and part of it is rented and is therefore an investment property.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Starlight Design Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 7
6
Stock
2024
2023
£
£
Finished goods and goods for resale
78,119
72,592
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
149,170
84,436
Amounts owed by group undertakings
-
0
45,672
Other debtors
5,980
3,941
Prepayments and accrued income
152,209
70,741
307,359
204,790
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
144,000
132,000
Trade creditors
283,020
206,966
Amounts owed to group undertakings
34,670
-
0
Corporation tax
141,347
9,024
Other taxation and social security
249,587
225,609
Other creditors
13,759
8,184
Accruals and deferred income
834,893
369,815
1,701,276
951,598
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,853,286
2,997,128

On 11 January 2023, a fixed and floating charge was created over all of the property and undertaking of the company.

Starlight Design Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 8
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
124,329
129,155
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
17,307
17,307
17,307
17,307
12
Related party transactions

The company has taken advantage of the exemption within FRS 102 Section 1A not to disclose

transactions with parties that are wholly owned members of the group.

 

Included in other debtors at the year end is £4,306 (2023: £3,294) due from the directors of the company.

13
Controlling party

There is no ultimate controlling party.

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