| Starlight Holdings Limited |
| Registered number: |
08221077 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
164,409 |
|
|
320,600 |
|
| Current assets |
| Debtors |
4 |
|
293,567 |
|
|
404,856 |
| Cash at bank and in hand |
|
|
1,456 |
|
|
797 |
|
|
|
295,023 |
|
|
405,653 |
|
| Creditors: amounts falling due within one year |
5 |
|
(720,110) |
|
|
(762,001) |
|
| Net current liabilities |
|
|
|
(425,087) |
|
|
(356,348) |
|
| Net liabilities |
|
|
|
(260,678) |
|
|
(35,748) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(260,778) |
|
|
(35,848) |
|
| Shareholders' funds |
|
|
|
(260,678) |
|
|
(35,748) |
|
|
|
|
|
|
|
|
| The directors are 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 directors acknowledge their 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. |
|
| Toby Baxendale |
| Director |
| Approved by the board on 1 December 2025 |
|
| Starlight Holdings Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 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). The reporting currency is Pounds Sterling (£) and all figures are rounded to the nearest £1. |
|
|
Investments |
|
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 and income from investments is accounted for when received. |
|
|
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. |
|
|
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Going concern |
|
The accounts have been prepared on a going concern basis because the balance sheet deficiency arises from unrealised losses on listed investments held as Funds at Lloyd's. These are held as long term assets and the director intends to supprt the company's working capital needs as they arise. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company* |
1 |
|
2 |
|
|
|
|
|
|
|
|
|
|
* includes directors not under contracts of service |
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2024 |
320,600 |
|
Additions |
86,417 |
|
Revaluation |
(85,246) |
|
Disposals |
(157,362) |
|
|
At 31 March 2025 |
164,409 |
|
|
The listed investments above are deposited with Lloyd's of London insurance market as security for the underwriting activities of Capriole 528LLP, a Lloyd's limited liability underwriting entity whose members were Mr and Mrs Baxendale. Starlight Holdings Limited remains the legal and beneficial owner of these investments until such time as the investments are called upon by Lloyd's, if ever. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
293,567 |
|
404,856 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
122,562 |
|
388,858 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Other creditors |
720,110 |
|
762,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr T Baxendale |
|
Current account (credit) overdrawn |
(151,176) |
|
219,273 |
|
(74,048) |
|
(5,951) |
|
|
|
(151,176) |
|
219,273 |
|
(74,048) |
|
(5,951) |
|
|
|
|
|
|
|
|
|
|
The director's current account funding for the company is included within other creditors, and is unsecured and interest free. The balance has no set repayment terms but is treated as repayable on demand. |
|
|
| 7 |
Related party transactions |
|
|
Within other creditors is a loan of £344,761 (2024: £340,000) from the Maloja Special Pension Scheme. This loan has annual repayment terms but is repayable on demand by the scheme Trustees. The loan carries interest at variable rates, currently 2.0% per annum over Bank of England Base Rate, and whilst unsecured as regards assets of the company is secured on a personal property asset of the director. |
|
|
| 8 |
Controlling party |
|
|
The company is wholly owned and controlled by Mr T Baxendale. |
|
|
| 9 |
Other information |
|
|
Starlight Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Flat O |
|
13 Warwick Square |
|
City of Westminster |
|
London |
|
SW1V 2AB |