Starclass Group Limited - Filleted accounts

Starclass Group Limited - Filleted accounts

STARCLASS GROUP LIMITED - Company Information

Print Friendly Version

Registered number
09701981
Starclass Group Limited
Filleted Accounts
31 December 2016
Starclass Group Limited
Registered number: 09701981
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Investments 2 4,423,442 4,221,785
Current assets
Debtors 3 100 -
Cash at bank and in hand - 100
100 100
Creditors: amounts falling due within one year 4 (4,223,684) (4,221,785)
Net current liabilities (4,223,584) (4,221,685)
Net assets 199,858 100
Capital and reserves
Called up share capital 103 100
Share premium 201,654 -
Profit and loss account (1,899) -
Shareholders' funds 199,858 100
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.
A I Spencer
Director
Approved by the board on 15 September 2017
Starclass Group Limited
Notes to the Accounts
for the year ended 31 December 2016
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).
Fixed asset investments
Fixed asset investments are stated at cost less provision for diminution in value.
Group accounts
The financial statements present information about the company as an individual undertaking an not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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 (i.e. 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.
2 Fixed asset investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2016 4,221,785
Additions 201,657
At 31 December 2016 4,423,442
The company has the following subsidiaries:
Subsidiary undertaking Country of incorporation Principal activity Class of shareholding % Held in the company
The Kaizen Investment Company Limited England & Wales Property investment Ordinary 100
Starclass (The Riverway) Limited England & Wales Property investment Ordinary 100
Starclass (Market Street) Limited England & Wales Property investment Ordinary 100
Starclass (Hinde House) Limited England & Wales Property investment Ordinary 100
Starclass (Hinde House) No.2 Limited England & Wales Property investment Ordinary 100
Starclass Properties Limited England & Wales Holding company Ordinary 100
Caribax Limited England & Wales Property investment Ordinary 100
Stadium Blenheim Court Limited England & Wales Property investment Ordinary 100
Falconland (Brighton) Limited England & Wales Property investment Ordinary 100
Falconland (Palace) Limited England & Wales Property investment Ordinary 100
The Falconland Development Company Limited England & Wales Holding company Ordinary 100
2 Fixed Asset Investments (continued)
The aggregate capital and reserves and the result for the year of the subsidiaries noted above were as follows:
Name of undertaking Profit/ (Loss) Capital and Reserves
The Kaizen Investment Company Limited (4,305) (86,166)
Starclass (The Riverway) Limited 907,112 (186,158)
Starclass (Market Street) Limited 17,932 246,306
Starclass (Hinde House) Limited 792,726 7,833,611
Starclass (Hinde House) No.2 Limited (63,968) 54,160
Starclass Properties Limited 1,852 9,765,324
Caribax Limited (33,518) 850,926
Stadium Blenheim Court Limited 46,903 63,591
Falconland (Brighton) Limited 15,781 (381,699)
Falconland (Palace) Limited 487,969 2,372,525
The Falconland Development Company Limited (5,077) 772,038
3 Debtors 2016 2015
£ £
Other debtors 100 -
4 Creditors: amounts falling due within one year 2016 2015
£ £
Amounts owed to group undertakings 4,221,684 -
Other creditors 2,000 4,221,785
4,223,684 4,221,785
5 Related party transactions
The company has taken advantage of the exemption available in accordance with FRS 102 Section 33, Related Party Disclosures, not to disclose transactions entered into between two or more members of a group.
6 Controlling party
The ultimate controlling party is A I Spencer.
7 Other information
Starclass Group Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
7 Manchester Square
London
W1U 3PQ
Starclass Group Limited 09701981 false 2016-01-01 2016-12-31 2016-12-31 VT Final Accounts June 2017 A I Spencer No description of principal activity 09701981 core:WithinOneYear 2015-12-31 09701981 core:ShareCapital 2015-12-31 09701981 core:SharePremium 2015-12-31 09701981 core:RetainedEarningsAccumulatedLosses 2015-12-31 09701981 2016-01-01 2016-12-31 09701981 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 09701981 bus:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 09701981 bus:Director40 2016-01-01 2016-12-31 09701981 1 2016-01-01 2016-12-31 09701981 2 2016-01-01 2016-12-31 09701981 countries:England 2016-01-01 2016-12-31 09701981 bus:FRS102 2016-01-01 2016-12-31 09701981 bus:FullAccounts 2016-01-01 2016-12-31 09701981 2016-12-31 09701981 core:WithinOneYear 2016-12-31 09701981 core:ShareCapital 2016-12-31 09701981 core:SharePremium 2016-12-31 09701981 core:RetainedEarningsAccumulatedLosses 2016-12-31 09701981 core:AdditionsToInvestments 2016-12-31 09701981 2015-12-31 iso4217:GBP