Star Property Investment & Management Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Star Property Investment & Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09419363 . The registered office is 255 Old Shoreham Road, Hove, BN3 7ED.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% RB
Computer Equipment	33% SL

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Star Property Investment & Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 23 (2024: 22)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	147,902	54,700	202,602
Additions	1,812	5,043	6,855
Disposals	(1,812 )	-	(1,812 )

As at 31 March 2025	147,902	59,743	207,645

Depreciation
As at 1 April 2024	71,965	31,923	103,888
Provided during the period	19,022	12,790	31,812
Disposals	(38 )	-	(38 )

As at 31 March 2025	90,949	44,713	135,662

Net Book Value
As at 31 March 2025	56,953	15,030	71,983

As at 1 April 2024	75,937	22,777	98,714

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	27,272,501
Additions	38,000
Disposals	(1,555,200 )
Revaluations	(2,119,798)

As at 31 March 2025	23,635,503

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2024	301,054
Disposals	(93 )

As at 31 March 2025	300,961

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	300,961

As at 1 April 2024	301,054

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Star Property Investment & Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
Subsidiary undertakings			2024	2023
SP UK Investment Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star Brunswick Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star Portland Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star Camelford Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star Events Sussex Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star AC Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	86%
Star BM Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Star IC Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	90%
Star Construction & Maintenance Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	90%
Star Property Capital Investment Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Senator Building & Maintenance Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%
Terrells LLP	7b Commerce Road, Lynch Wood, Peterborough, England, PE2 6LR England	Ordinary	83%	86%
Star Cromwell Limited	255 Old Shoreham Road, Hove, East Sussex, England BN3 7ED England	Ordinary	83%	100%

During the year the company charged a management fee to Star Racing Limited, a company under common control of £Nil (2024: £Nil) for the management of investment properties that are held by Star Racing Limited. The company received advances during the year from Star racing Limited totalling £1.06m (2024: £0.16m). The advance was unsecured and interest free. At the balance sheet date, the amount due to Star Racing Limited by the company was £19,410,856 (2024: £18,346,549).

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Star Property Investment & Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	93,874	76,434
Prepayments and accrued income	140,102	24,638
Other debtors	38,814	23,891
Amounts owed by group undertakings	27,085,212	23,734,407

	27,358,002	23,859,370

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	62,540	19,688
Other loans	5,000	12,500
VAT	3,325	3,890
Other creditors	19,411,186	18,354,085
Other creditors (2)	48,303	165,657
Credit Card	5,965	4,144
Pension payable	6,042	5,858
Deferred Income	44,078	39,972
Accruals	1,620	9,084
Amounts owed to group undertakings	10,766,372	10,534,419

	30,354,431	29,149,297

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	13,022,841	12,487,449
Other loans	604,972	184,916
Other creditors	6,845,770	6,948,423

	20,473,583	19,620,788

The bank loans included in both current liabilities and non current liabilities are secured over the investment properties held by the company.

10. Deferred Taxation

Provisions for liabilities consists of deferred tax at the rate of 25% on the movement in investment property revaluation.

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	297,050	826,999

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	99	99

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Star Property Investment & Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Related Party Transactions

Summary of transactions with other related parties

The company received advances during the year from Star Racing Limited totalling £1.06m (2024: £0.16m). The advance was unsecured and interest free.

At the balance sheet date, the amounnt due to Star Racing Limited by the company which is included within other creditors amounted to £19,410,856 (2024: £18,346,549).

13. Ultimate Controlling Party

The company's ultimate controlling party is Mr Benjamin Keith .

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		71,983		98,714
Investment Properties	5		23,635,503		27,272,501
Investments	6		300,961		301,054

			24,008,447		27,672,269
CURRENT ASSETS
Debtors	7	27,358,002		23,859,370
Cash at bank and in hand		89,316		93,355

		27,447,318		23,952,725
Creditors: Amounts Falling Due Within One Year	8	(30,354,431 )		(29,149,297 )

NET CURRENT ASSETS (LIABILITIES)			(2,907,113 )		(5,196,572 )

TOTAL ASSETS LESS CURRENT LIABILITIES			21,101,334		22,475,697

Creditors: Amounts Falling Due After More Than One Year	9		(20,473,583 )		(19,620,788 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(297,050 )		(826,999 )

NET ASSETS			330,701		2,027,910

CAPITAL AND RESERVES
Called up share capital	11		99		99
Profit and Loss Account			330,602		2,027,811

SHAREHOLDERS' FUNDS			330,701		2,027,910