Lodestar Holdings Limited - Period Ending 2019-01-31
Lodestar Holdings Limited - Period Ending 2019-01-31
Registration number:
Lodestar Holdings Limited
for the Year Ended 31 January 2019
Lodestar Holdings Limited
Contents
Company Information |
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Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Abridged Financial Statements |
Lodestar Holdings Limited
Company Information
Directors |
Mr M Randall FCA Mr R M Smith |
Registered office |
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Page 1 |
Lodestar Holdings Limited
Statement of Comprehensive Income for the Year Ended 31 January 2019
2019 |
2018 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 2 |
Lodestar Holdings Limited
(Registration number: 00166694)
Abridged Balance Sheet as at 31 January 2019
Note |
2019 |
2018 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 3 |
Lodestar Holdings Limited
(Registration number: 00166694)
Abridged Balance Sheet as at 31 January 2019
Approved and authorised by the
.........................................
Mr M Randall FCA
Director
Page 4 |
Lodestar Holdings Limited
Statement of Changes in Equity for the Year Ended 31 January 2019
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 February 2018 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
At 31 January 2019 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 February 2017 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
At 31 January 2018 |
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Page 5 |
Lodestar Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 abridged financial statements have been 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.
Tax
The tax expense for the period comprises 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Page 6 |
Lodestar Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2019
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 7 |
Lodestar Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2019
Investments |
Total |
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Cost or valuation |
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At 1 February 2018 |
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Provision |
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Carrying amount |
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At 31 January 2019 |
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At 31 January 2018 |
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2019 |
2018 |
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 |
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2019 |
2018 |
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Subsidiary undertakings |
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82 Upper Hanover Street
England and Wales |
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Subsidiary undertakings |
Lodestar Estates Limited The principal activity of Lodestar Estates Limited is |
Share capital |
Allotted, called up and fully paid shares
Page 8 |
Lodestar Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2019
2019 |
2018 |
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No. |
£ |
No. |
£ |
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32,450 |
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32,450 |
Dividends |
2019 |
2018 |
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£ |
£ |
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Interim dividend of £ |
32,450 |
32,450 |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2019 |
2018 |
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Remuneration |
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Summary of transactions with all subsidiaries
Summary of transactions with other related parties
Loans to related parties
2019 |
Subsidiary |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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Page 9 |
Lodestar Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2019
2018 |
Subsidiary |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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Page 10 |