REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 15 FEBRUARY 2022 TO 31 MARCH 2023 |
FOR |
LUNAR STAR PROPERTIES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 15 FEBRUARY 2022 TO 31 MARCH 2023 |
FOR |
LUNAR STAR PROPERTIES LTD |
LUNAR STAR PROPERTIES LTD (REGISTERED NUMBER: SC723254) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 15 February 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LUNAR STAR PROPERTIES LTD |
COMPANY INFORMATION |
for the period 15 February 2022 to 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
24A Ainslie Place |
Edinburgh |
EH3 6AJ |
LUNAR STAR PROPERTIES LTD (REGISTERED NUMBER: SC723254) |
BALANCE SHEET |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
LUNAR STAR PROPERTIES LTD (REGISTERED NUMBER: SC723254) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 15 February 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Lunar Star Properties Ltd is a |
The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total of rent and service charges receivable by the company for the rental of property during the year. |
Investment property |
The company carries investment property at fair value with changes in fair value being recognised in the Income Statement. Any increase in value in excess of cost together with the related deferred tax are transferred to a Revaluation Reserve. |
Financial instruments |
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method. |
Taxation |
Taxation for the period 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
LUNAR STAR PROPERTIES LTD (REGISTERED NUMBER: SC723254) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 15 February 2022 to 31 March 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2023 is represented by: |
£ |
Cost | 541,305 |
Investment property was valued on an open market basis on 31 March 2023 by the director . |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 271,013 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The company bank loan is secured over the company's property. |
The Director has given a personal guarantee and indemnity not exceeding £50,000 together with a further sum for all interest and all costs and expenses over a bank loan held in the company amounting to £295,859. |
8. | RELATED PARTY DISCLOSURES |
Included within other creditors is a loan from a company which is under common control amounting to £160,000. This loan which is unsecured is provided interest free and has no agreed terms of repayment. |
A company under common control is acting as a guarantor on a bank loan in the company. In the event the company is unable to meet their obligations under the terms of the bank loan, the company under common control would be liable for the following commitments £295,859 (2022: £Nil). |