Start_Limited - Accounts
Start_Limited - Accounts
The directors present the strategic report for the year ended 31 March 2018.
Start Limited is the parent company of Start JG Group which has businesses including Brand Consultancy Start Judge Gill, ad-agency Hometown, artist representation agency Breed and software company Connected Retail housing CRP its proprietary retail technology platform.
Start (JG) is a global independent brand consultancy group. We work with brands to identify and create value within the growing experience economy. We define and design brand, retail and customer experiences to drive advocacy, increase return on investment and build brand value for our clients.
Our award winning capabilities include; customer experience strategy, strategic proposition development, brand creation, user experience design, digital transformation, retail experience design, brand experience design and enterprise-wide retail technology. Specialist sectors include: airports and airlines, travel and leisure, finance and banking, retail, telecoms, sports, luxury and charity.
We have been in business for over 21 years and today employ around 50 people across offices in London, Manchester, Dubai and Abu Dhabi, working across UK, Europe, CEE, Russia, Middle East and Asia.
Our culture is open, collaborative, professional, hard working and fun. Our multi-skilled team –some of the best in the industry have hi-level expertise from insights, strategy, planning, design, writing, ideation, programming, mapping and program management - through to pioneering new technology platforms.
Our brand work delivers relevant differentiation with exquisite design craft. We see environments and new retail design and our digital transformation work as the ‘ultimate brand expression’ and drive loyalty by designing and building them around rigorous customer insights and customer first connected experiences.
Across every discipline, strategic thinking and brilliant design execution are at the heart of our approach – helping differentiate businesses and organisations, connecting brands with next generation audiences and in turn building loyalty and value.
Our clients include some of the world’s best; Barclays, Sportmaster, Adidas, Puma, Footasylum, Yas Island, Bank Dhofar, Abu Dhabi Commercial Bank, Key Retirement, Simply Business, Virgin Mobile UAE, Emirates Integrated Telecommunications Company, Majid Al Futtaim and Arabian Gulf League.
Review of the Year
We anticipated that 2018 would be a difficult year, reflected by a 30% decrease in revenue to £7,507,466 as we sought to restructure the company. The losses made in the year reflect the continued investment the board is making to secure the long-term prospects of the group, particularly in international markets and through diversifying sources of income. Connected Retail performed in-line with the business plan and generated the forecasted trading profit.
Principle Risks and Uncertainties
The key business risks affecting the Group are considered to relate to the global economy, global delays in decision making from clients, the competition from other agencies and employee retention.
Key Performance Indicators
The Group's key performance indicators are:
a) Turnover £7,507,466 (2017 - £10,675,004)
b) Gross income per head: £116,572 (2017 - £168,252)
c) Employment costs to gross income 66% (2017 - 60%)
KPIs are monitored on a monthly basis as part of the management review process.
The Group’s operations expose it to financial risks such as credit risk and foreign exchange risk.
Credit Risk - the group has implemented policies that require appropriate credit verification procedures on potential customers. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
Foreign exchange risk - the group actively manages foreign exchange rate risk.
Future Developments
The external commercial environment is expected to remain as challenging as ever over the next 12 months, with continued pressure on margins. However, Start has invested in a new senior leadership and management team across its customer experience and digital capabilities, up-weighting its strategic and commercial skills.
We are confident that current performance will improve in the new year trading period. The company is targeting growth from sector strengths in regions beyond the UK, such as EU, ME and Russia. We are seeing this focus to our efforts resulting in encouraging uplifts in fee income from these markets.
By order of the board
The directors present their annual report and financial statements for the year ended 31 March 2018.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The results for the year are set out on pages 9 to 10.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
Under section 414C (11) of the Companies Act 2006, the information relating to future developments and risk management are included in the strategic report.
In accordance with the company's articles, a resolution proposing that Kingston Smith LLP be reappointed as auditor of the group will be put at a General Meeting.
select suitable accounting policies and then apply them consistently; make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
We have audited the financial statements of Start Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2018 which comprise the Group Profit And Loss Account, the Group Statement of Comprehensive Income, the Group Balance Sheet, the Company Balance Sheet, the Group Statement of Changes in Equity, the Company Statement of Changes in Equity, the Group Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2018 and of its for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's or the parent company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group’s or the parent company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by s408 Companies Act 2006, the Company has not presented its own profit and loss account and related notes. The Company’s loss for the year was £165,521 (2017 - £39,500 loss).
Start Limited (“the Company”) is a limited company domiciled and incorporated in England and Wales. The registered office is Unit 4.01, Tea Building, 56 Shoreditch High Street, London, E1 6JJ.
The Group consists of Start Limited and all of its subsidiaries, as detailed in note 15.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
As permitted by s408 Companies Act 2006, the Company has not presented its own profit and loss account and related notes. The Company’s loss for the year was £165,521 (2017 - £39,500 loss).
Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates. In the group financial statements, associates are accounted for using the equity method.
At the balance sheet date the group made of loss of £1,686,723 (2017: £2,059,380 profit) but was in a consolidated net assets position of £787,078 (2017: £1,912,190) at the year end. The company made a loss of £165,521 (2017 - £39,500) but was in a net assets position of £1,126,012 (2017 - £1,291,533).
The companies in the Start group have committed to providing sufficient financial support to each other to enable them to continue to trade and meet their liabilities as they fall due, for a period of at least one year from the date of signature of the audit report for the year ended 31 March 2018.
The companies have also confirmed that they will not seek repayment of intercompany loans owed between the companies until such time as the company that owes the intercompany loan is able to repay without compromising its ability to continue to trade and meet its liabilities as they fall due for at least one year from the date of signature of the audit report. The group companies included within this guarantee are Start Limited, Start JG Group Limited, Start Ventures Limited, Start JG Limited, Start JudgeGill Limited and Connected Retail Limited. Included within creditors of the company are amounts owed to group companies totalling £2,056,591 (2017: £1,794,545).
The directors have carefully reviewed the budget and cash flow forecasts for the company for the next 12 months and believe that with the group confirmation referred to above the company can continue to trade and to meet its liabilities as they fall due for at least this period. The directors have also confirmed that if the group does not meet its forecast revenue targets, costs will be restructured to enable the company to continue to trade and to meet its liabilities as they fall due.
The group currently operates with an overdraft facility of £150,000, and is in the process of extending this. Hometown Advertising Limited, an associate of Start JG Limited, has further confirmed it will provide £100,000 to the group to enable it to continue to trade and meet its liabilities as they fall due, if the group is unable to secure an additional overdraft of £100,000 within the next 6 months.
Moreover, a director of Start Limited has confirmed that if requested by other directors of Start Limited that, in order to ensure the availability of sufficient working capital for the group to continue to trade, they will reduce their current directors remuneration as necessary to enable the group to meets its liabilities as they fall due, for a period of 6 months from the date of signature of the audit report for the year ended 31 March 2018.
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as a contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors, and payments on account in excess of the relevant amount of revenue are included in creditors.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity instruments which are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method.
Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the Company financial statements investments in associates are accounted for at cost less impairment.
At each reporting end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
The financial statements of subsidiaries denominated in foreign currencies are consolidated using closing rates.
Foreign exchange adjustments are taken to the statement of recognised gains and losses.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
An analysis of the group's turnover is as follows:
Exchange differences recognised in profit or loss during the year, except for those arising on financial instruments measured at fair value through profit or loss, amounted to £596,019 (2017 - £994,741).
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
Investment income includes the following:
The actual charge for the year can be reconciled to the expected charge based on the profit or loss and the standard rate of tax as follows:
Details of the company's subsidiaries at 31 March 2018 are as follows:
*Investments held indirectly via Start JG Group Limited
**Investments held indirectly via Start Ventures Limited
***Investments held indirectly via Start JG Limited
****Investments held indirectly via Start JudgeGill Limited
Details of associates at 31 March 2018 are as follows:
* Investment held indirectly via Start JG Limited and Start JG Group Limited.
Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Group
The group has no transactions with related parties outside the group.
Company
All of the named companies below are incorporated in England and Wales, unless stated otherwise.
Included within creditors is £1,877,111 (2017 - £1,728,744) owed to Start JudgeGill Limited, a subsidiary.
At the year end £293,916 (2017 - £325,916) was due from Start Ventures Limited, a subsidiary.
At the year end there is a balance of £150,000 (2017 - £150,000) payable to Anymedia Limited, a subsidiary company, in respect of management fees.
Included within debtors is £2,591,449 (2017 - £2,698,777) owed from Start JG Group Limited, a subsidiary.
Included within debtors is £18,986 (2017 - £18,986) owed from Start JG Middle East, a subsidiary.
Included within debtors is £703 (2017 - £703) owed from Breed Limited, a subsidiary.
Included within debtors is £19,200 (2017 - £9,005) owed from Connected Retail Limited, a subsidiary.
Included within debtors is £20,000 (2017 - £20,000) owed from Start JG Limited, a subsidiary.
Included within the accounts is an amount due to K Gill of £20,000 (2017: £20,000), who is a related by virtue of being a director in other group companies.
The group is controlled by M Curtis, a director, by virtue of his majority shareholding in Start Limited.