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REGISTERED NUMBER: SC630848 (Scotland)












Financial Statements

for the Year Ended 31 May 2022

for

Star Properties Glasgow Limited

Star Properties Glasgow Limited (Registered number: SC630848)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Star Properties Glasgow Limited

Company Information
for the Year Ended 31 May 2022







DIRECTORS: S Molinari
P Molinari





REGISTERED OFFICE: Radleigh House
1 Golf Road
Glasgow
G76 7HU





REGISTERED NUMBER: SC630848 (Scotland)






Star Properties Glasgow Limited (Registered number: SC630848)

Balance Sheet
31 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,833 210,610
Investment property 5 539,018 539,018
753,851 749,628

CURRENT ASSETS
Debtors 6 5,987 55,319
Cash at bank 6,190 34,436
12,177 89,755
CREDITORS
Amounts falling due within one year 7 998,693 932,551
NET CURRENT LIABILITIES (986,516 ) (842,796 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(232,665

)

(93,168

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (232,765 ) (93,268 )
SHAREHOLDERS' FUNDS (232,665 ) (93,168 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:




P Molinari - Director


Star Properties Glasgow Limited (Registered number: SC630848)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Star Properties Glasgow Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Star Properties Glasgow Limited (Registered number: SC630848)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2021 210,876
Additions 42,135
At 31 May 2022 253,011
DEPRECIATION
At 1 June 2021 266
Charge for year 37,912
At 31 May 2022 38,178
NET BOOK VALUE
At 31 May 2022 214,833
At 31 May 2021 210,610

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2021
and 31 May 2022 539,018
NET BOOK VALUE
At 31 May 2022 539,018
At 31 May 2021 539,018

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 5,987 55,319

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 237 16,645
Taxation and social security 212 -
Other creditors 998,244 915,906
998,693 932,551

Star Properties Glasgow Limited (Registered number: SC630848)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100