REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
THE STAR WEYMOUTH LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
THE STAR WEYMOUTH LIMITED |
THE STAR WEYMOUTH LIMITED (REGISTERED NUMBER: 07582800) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE STAR WEYMOUTH LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
THE STAR WEYMOUTH LIMITED (REGISTERED NUMBER: 07582800) |
ABRIDGED BALANCE SHEET |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
THE STAR WEYMOUTH LIMITED (REGISTERED NUMBER: 07582800) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
The Star Weymouth Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. |
The financial statements have been prepared on a going concern basis, which the director considers to be appropriate, as he has agreed not to withdraw his loan account and to provide the necessary finance to enable the company to meet its liabilities as they fall due. |
Turnover |
Turnover represents rent receivable from investment properties, excluding value added tax, during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Investment property |
Investment properties are measured at fair value at each reporting date, with gains or losses recognised in the profit or loss account. Properties are revalued annually using an open market valuation basis. Material deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Taxation |
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current tax assets and liabilities are not discounted and are 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 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | 10,000 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
THE STAR WEYMOUTH LIMITED (REGISTERED NUMBER: 07582800) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2012 | 11,269 |
Valuation in 2013 | 20,000 |
Valuation in 2016 | 5,000 |
Valuation in 2020 | (20,000 | ) |
Valuation in 2023 | 10,000 |
Cost | 203,731 |
230,000 |
Investment property was valued on an open market value basis on 31 March 2023 by the Director . |
5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
As at 31 March 2023, a director had loaned the company £268,817 (2022 - £279,066). |
£200,000 (2022 - £200,000) is repayable after more than one year, subject to renewal. |