Registered number
05325901
Starnevesse Limited
Filleted Accounts
30 September 2024
Starnevesse Limited
Registered number: 05325901
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,499,744 17,450,244
Current assets
Debtors 4 13,503,937 14,600,878
Cash at bank and in hand 3,835,534 3,441,568
17,339,471 18,042,446
Creditors: amounts falling due within one year 6 (502) (50,501)
Net current assets 17,338,969 17,991,945
Net assets 33,838,713 35,442,189
Capital and reserves
Called up share capital 6,504,766 6,504,766
Share premium 300,134 300,134
Profit and loss account 27,033,813 28,637,289
Shareholders' funds 33,838,713 35,442,189
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R C Thompson
Director
Approved by the board on 27 June 2025
Starnevesse Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investments Land and buildings Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 17,450,244 33,333 89,873 17,573,450
Additions 249,335 - - 249,335
Surplus on revaluation 1,712,484 - - 1,712,484
Disposals (2,912,319) - - (2,912,319)
At 30 September 2024 16,499,744 33,333 89,873 16,622,950
Depreciation
At 1 October 2023 - 33,333 89,873 123,206
At 30 September 2024 - 33,333 89,873 123,206
Net book value
At 30 September 2024 16,499,744 - - 16,499,744
At 30 September 2023 17,450,244 - - 17,450,244
Included in investments are shares quoted on the AIM market with a value of £15,813,152 (2023: £17,012,986).
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 12,078,544 13,529,891
Other debtors 1,425,393 1,070,987
13,503,937 14,600,878
Amounts due after more than one year included above 5,060,922 5,060,922
5 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 1,712,484 2,373,905
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 502 50,501
7 Related party transactions
At 30th September 2024, the company was owed £5,060,922 (2023: £5,060,922) by Gallanta Investments Limited, the immediate parent company.

At 30th September 2024, the company was owed £Nil (2023: £1,995,576) by Melrose and Morgan Limited, a fellow group undertaking.
At 30th September 2024, the company was owed £7,017,622 by Kipling House Holdings Limited, the ultimate parent company (2023: £6,473,393).
Mr R C Thompson is a director of Gallanta Investments Limited and Kipling House Holdings Limited. No interest was charged on the loans.
8 Controlling party
The immediate parent company is Gallanta Investments Ltd. The ultimate parent company is Kipling House Holdings Limited. The ultimate controlling party is R C Thompson.
9 Other information
Starnevesse Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Marlborough Place
London
NW8 0PA
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