IRIS Accounts Production v23.3.0.418 11132301 director 1.2.22 31.1.23 31.1.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111323012022-01-31111323012023-01-31111323012022-02-012023-01-31111323012021-01-31111323012021-02-012022-01-31111323012022-01-3111132301ns10:Originalns15:EnglandWales2022-02-012023-01-3111132301ns14:PoundSterlingns10:Original2022-02-012023-01-3111132301ns10:Originalns10:Director12022-02-012023-01-3111132301ns10:Original2022-02-012023-01-3111132301ns10:Original2023-01-3111132301ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3111132301ns10:Originalns10:SmallEntities2022-02-012023-01-3111132301ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3111132301ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3111132301ns10:Originalns10:FullAccounts2022-02-012023-01-3111132301ns10:Original2021-02-012022-01-3111132301ns10:Originalns10:OrdinaryShareClass12022-02-012023-01-3111132301ns10:Originalns10:RegisteredOffice2022-02-012023-01-3111132301ns10:Original2022-01-3111132301ns10:Originalns5:CurrentFinancialInstruments2023-01-3111132301ns10:Originalns5:CurrentFinancialInstruments2022-01-3111132301ns10:Originalns5:Non-currentFinancialInstruments2023-01-3111132301ns10:Originalns5:Non-currentFinancialInstruments2022-01-3111132301ns5:ShareCapitalns10:Original2023-01-3111132301ns5:ShareCapitalns10:Original2022-01-3111132301ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3111132301ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3111132301ns10:Originalns5:FurnitureFittings2022-02-012023-01-3111132301ns10:Originalns5:FurnitureFittings2022-01-3111132301ns10:Originalns5:FurnitureFittings2023-01-3111132301ns10:Originalns5:FurnitureFittings2022-01-3111132301ns10:Original2022-01-3111132301ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3111132301ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3111132301ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-01-3111132301ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-01-3111132301ns10:Originalns5:Non-currentFinancialInstruments2022-02-012023-01-3111132301ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3111132301ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-01-3111132301ns5:Securedns10:Original2023-01-3111132301ns5:Securedns10:Original2022-01-3111132301ns10:Originalns10:OrdinaryShareClass12023-01-3111132301ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3111132301ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-012023-01-31
REGISTERED NUMBER: 11132301 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

STARFINE ESTATES LIMITED

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STARFINE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: C J Endzweig





REGISTERED OFFICE: Rear Of 123 Clapton Common
London
E5 9AB





REGISTERED NUMBER: 11132301 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,623 3,086
Investment property 6 2,530,385 2,530,385
2,533,008 2,533,471

CURRENT ASSETS
Debtors 7 24,038 3,874
Cash at bank 290,179 107,012
314,217 110,886
CREDITORS
Amounts falling due within one year 8 (907,013 ) (754,570 )
NET CURRENT LIABILITIES (592,796 ) (643,684 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,940,212

1,889,787

CREDITORS
Amounts falling due after more than one
year

9

(1,690,643

)

(1,704,468

)
NET ASSETS 249,569 185,319

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 249,568 185,318
SHAREHOLDERS' FUNDS 249,569 185,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2023


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 and authorized for issue by the director and authorised for issue on 18 October 2023 and were signed by:





C J Endzweig - Director


STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Starfine Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2022
and 31 January 2023 5,912
DEPRECIATION
At 1 February 2022 2,826
Charge for year 463
At 31 January 2023 3,289
NET BOOK VALUE
At 31 January 2023 2,623
At 31 January 2022 3,086

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 2,530,385
NET BOOK VALUE
At 31 January 2023 2,530,385
At 31 January 2022 2,530,385

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 19,534 3,257
Other debtors 4,504 617
24,038 3,874

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts (see note 10) - 33,033
Taxation and social security 15,180 28,984
Other creditors 891,833 692,553
907,013 754,570

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans (see note 10) 1,656,615 1,660,779
Other creditors 34,028 43,689
1,690,643 1,704,468

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 511,814 511,814

Repayable by instalments
Bank loans more 5 yr by instal 1,144,801 1,007,388
Other loans more 5yrs instal - 43,689
1,144,801 1,051,077

Other creditors include outstanding Bounceback loan balance of £34,028 [2022 - £43,689]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

31.1.23 31.1.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 33,033

Amounts falling due between two and five years:
Bank loans - 2-5 years - 141,577
Other loans - 2-5 years 34,028 -
34,028 141,577

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 511,814 511,814

Repayable by instalments
Bank loans more 5 yr by instal 1,144,801 1,007,388
Other loans more 5yrs instal - 43,689
1,144,801 1,051,077

STARFINE ESTATES LIMITED (REGISTERED NUMBER: 11132301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 1,656,615 1,693,812

Bank loan is secured by first charge over the investment properties in the book of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Retained
earnings
£   

At 1 February 2022 185,318
Profit for the year 64,250
At 31 January 2023 249,568