Registration number: 12497614

Gigha Star Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 5

Gigha Star Limited

(Registration number: 12497614)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	3,349	-
Investment property	5	2,050,000	2,048,000
Other financial assets	6	525,022	502,987
		2,578,371	2,550,987
Current assets
Debtors		208	-
Cash at bank and in hand		87,746	88,308
		87,954	88,308
Creditors: Amounts falling due within one year	7	(1,926,540)	(1,966,551)
Net current liabilities		(1,838,586)	(1,878,243)
Total assets less current liabilities		739,785	672,744
Creditors: Amounts falling due after more than one year	7	(335,462)	(366,651)
Provisions for liabilities		(24,822)	(16,452)
Net assets		379,501	289,641
Capital and reserves
Called up share capital		10	10
Other reserves		43,616	44,393
Profit and loss account		335,875	245,238
Total equity		379,501	289,641

Gigha Star Limited

(Registration number: 12497614)
Abridged Balance Sheet as at 31 March 2025

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.

	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 and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 10 December 2025 and signed on its behalf by:
 

Mr G McAulay

Director

Mrs J A McAulay

Director

Gigha Star Limited

Notes to the Unaudited Abridged 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 10 December 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Going concern

The directors have considered the financial position of the company in view of the results in the year ended 31 March 2025.

The company's ability to continue trading is reliant on the directors continuing to support the company through their directors' loan account. The directors have agreed not to seek repayment of the amounts owed to them within 12 months of the date of the accounts where this would affect the company's ability to trade.

The directors have considered a period of 12 months from the date of approval of the financial statements and considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Gigha Star Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

	Total £
Cost or valuation
Additions	3,349
At 31 March 2025	3,349
Depreciation
Carrying amount
At 31 March 2025	3,349

5	Investment properties

	2025 £
At 1 April 2024	2,048,000
Fair value adjustments	2,000
At 31 March 2025	2,050,000

The historical cost is used as the fair value of the commercial property, as the property is bespoke an assumption has been made that the difference between the fair value and historical cost does not justify the time and cost of valuing it.

The fair value of the residential property has been obtained by using the estimated market value of the property at the balance sheet date that appears on a reputable nationwide house price website.