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Registration number: 13167007

Prepared for the registrar
Starr Holdings Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Starr Holdings Limited

(Registration number: 13167007)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 18,705,111 | 3,503,063
Current assets |  |  |
Debtors | 5 | 37,916 | 27,901
Cash at bank and in hand |  | 477,767 | 31,871
|  | 515,683 | 59,772
Creditors: Amounts falling due within one year | 6 | (3,754,944) | (13,182)
Net current (liabilities)/assets |  | (3,239,261) | 46,590
Total assets less current liabilities |  | 15,465,850 | 3,549,653
Creditors: Amounts falling due after more than one year | 6 | (15,189,293) | (3,596,405)
Deferred tax liabilities |  | (90,430) | (13,997)
Net assets/(liabilities) |  | 186,127 | (60,749)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Revaluation reserve |  | 271,289 | 41,991
Retained earnings |  | (85,262) | (102,840)
Shareholders' funds/(deficit) |  | 186,127 | (60,749)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:

......................................... S Young Director |  |

Starr Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Stanwick Drive
Cheltenham
GL51 9LG

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Critical accounting 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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the rents received in respect of the investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Starr Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Starr Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

| 4 | Investment properties

| £
At 1 April 2024 | 3,503,063
Additions | 15,373,509
Disposals | (372,000)
Fair value adjustments | 200,539
At 31 March 2025 | 18,705,111

At 31 March 2025, the investment properties were valued by the director on an open market basis.
At 31 March 2025, the original cost of the properties was £18,444,162 (2024: £3,447,074)

| 5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 8,621 | -
Prepayments | 29,295 | 26,836
Other debtors | - | 1,065
| 37,916 | 27,901

Starr Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| 6 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 3,601,268 | 4,599
Trade creditors |  | 7,078 | -
Taxation and social security |  | 32,811 | -
Accruals and deferred income |  | 81,672 | 7,163
Other creditors |  | 32,115 | 1,420
|  | 3,754,944 | 13,182

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 15,189,293 | 3,596,405

The bank borrowings are secured on the investment property.

| 7 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Redeemable preference shares | 44,262 | -
Other borrowings | 3,557,006 | 4,599
| 3,601,268 | 4,599

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings | 3,367,435 | 741,778
Redeemable preference shares | 11,821,858 | -
Directors' loan accounts | - | 2,854,627
| 15,189,293 | 3,596,405

| 8 | Related party transactions

Summary of transactions with other related parties

At 31 March 2025, the company owed £3,557,006 (2024: £2,859,226) to the directors. Interest of £54,550 (2024: £nil) was charged on the balance and there are no fixed repayment terms.