STAR ASSET FINANCE LTD
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Cash
£12M
+24.4% vs 2023
Net assets
£45M
-12.8% vs 2023
Employees
155
-5.5% vs 2023
Profit before tax
£3M
+1,050.6% vs 2023
Net assets
2-year trend · vs Unclassified median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £22,449,000 | £23,287,000 | |
| Operating profit | £5,268,000 | £7,450,000 | |
| Profit before tax | £239,000 | £2,750,000 | |
| Net profit | £28,000 | £1,961,000 | |
| Cash | £9,582,000 | £11,917,000 | |
| Total assets less current liabilities | £97,179,000 | £73,082,000 | |
| Net assets | £51,172,000 | £44,601,000 | |
| Equity | £51,172,000 | £44,601,000 | |
| Average employees | 164 | 155 | |
| Wages | £8,887,000 | £8,292,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 23.5% | 32.0% | |
| Net margin | 0.1% | 8.4% | |
| Return on capital employed | 5.4% | 10.2% | |
| Gearing (liabilities / total assets) | 63.1% | 59.2% | |
| Current ratio | 3.33x | 3.01x | |
| Interest cover | 1.00x | 1.49x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have considered the impact on the company and the group of the ongoing war in Ukraine, the tensions in the Middle East, fluctuations in the rates of inflation and funding costs, and increases in the cost of living, and do not consider the impact, in relation to going concern, to be material. As at the date of signing the financial statements, the company and group have sufficient cash and funding in place to meet day to day working capital requirements and to fund future growth opportunities for the foreseeable future. On this basis, the directors continue to adopt the going concern basis in preparing the company and the group's 2024 financial statements.”
Group structure
- STAR ASSET FINANCE LTD · parent
- Kennet Equipment Leasing Limited 100%
- Ignition Credit Plc 100%
- Credo (Holdings) Limited 100%
- Kennet Funding Limited 100%
- Credo Asset Finance Limited 100%
- Credo Capital Finance Limited 100%
- First Capital Finance Limited 100%
- First Capital Leasing Limited 100%
- Ignition Automotive Limited 100%
Significant events
- “The company has recognised a £1.9m (2023: £Nil) impairment to the carrying value of its investment in Credo Capital Finance Limited (CCF) which has been written down to its recoverable amount.”
- “The first is the decision by the FCA to investigate the use of Discretionary Commission Arrangements (DCA), the second is the judgement by the Court of Appeal in October 2024 that motor dealers owe a fiduciary duty to the customer when arranging finance, and that it is unlawful for motor dealers to receive commission from lenders providing motor finance without disclosing the commission to the customer and obtaining their consent to that payment. The FCA have extended the deadline for firms providing motor finance to respond to complaints related to both events to 4 December 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DEVOY, Sean Michael, Mr. | Director | 2021-09-29 | Feb 1967 | British |
| GENEEN, Samuel | Director | 2021-09-29 | Aug 1950 | British |
| GOUGH, Paul | Director | 2021-09-29 | Jan 1972 | British |
| MALLIN, Anthony Granville | Director | 2021-09-29 | May 1955 | British |
| SWIFT, Stephen | Director | 2021-09-29 | Dec 1964 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HIGGINBOTHAM, James | Director | 2022-03-22 | 2024-05-08 |
Ownership
Persons with significant control
Filing timeline
Last 11 of 11 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-06-07 OSCC01 Change constitutional documents overseas company with date
- 2022-04-29 OSCC01 Change constitutional documents overseas company with date
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-06-24 | AA | accounts | Accounts with accounts type group | |
| 2024-07-04 | AA | accounts | Accounts with accounts type group | |
| 2024-06-19 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2023-10-09 | AA | accounts | Accounts with accounts type group | |
| 2022-07-12 | AA | accounts | Accounts with accounts type full | |
| 2022-06-07 | OSCC01 | change-of-constitution | Change constitutional documents overseas company with date | |
| 2022-04-29 | OSCC01 | change-of-constitution | Change constitutional documents overseas company with date | |
| 2022-04-13 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2021-09-29 | OS-PAR | annual-return | Appointment at registration of person authorised to represent | |
| 2021-09-29 | OS-PAR | annual-return | Appointment at registration of person authorised to accept service | |
| 2021-09-29 | OSIN01 | incorporation | Register overseas company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+3.7%
£22,449,000 £23,287,000
-
Cash
+24.4%
£9,582,000 £11,917,000
-
Net assets
-12.8%
£51,172,000 £44,601,000
-
Employees
-5.5%
164 155
-
Operating profit
+41.4%
£5,268,000 £7,450,000
-
Profit before tax
+1,050.6%
£239,000 £2,750,000
-
Wages
-6.7%
£8,887,000 £8,292,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers