REGISTERED NUMBER: |
Starlake CAIA Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
Starlake CAIA Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
Starlake CAIA Limited (Registered number: 09028102) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Starlake CAIA Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Starlake CAIA Limited (Registered number: 09028102) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Starlake CAIA Limited (Registered number: 09028102) |
Balance Sheet - continued |
30 June 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Starlake CAIA Limited (Registered number: 09028102) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | GENERAL INFORMATION |
The company is a private company limited by share capital, incorporated in England and Wales. |
The address of its registered office is: |
63a Links Lane |
Rowland's Castle |
Hampshire |
PO9 6AF |
2. | STATEMENT OF COMPLIANCE |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. |
The company's functional and presentational currency is pound sterling. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
TANGIBLE ASSETS |
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
Asset class Depreciation method and rate |
Investment property No depreciation charge |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Starlake CAIA Limited (Registered number: 09028102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
3. | ACCOUNTING POLICIES - continued |
GOING CONCERN |
The financial statements have been prepared on a going concern basis. |
INVESTMENT PROPERTIES |
In accordance with the Financial Reporting Standards 102 Section 1A, investment properties for which fair value can be measured reliably without undue cost and effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
REVENUE RECOGNITION |
Turnover represents rent receivable, which are credited to revenue in the accounting period in which they are receivable. |
The company recognizes revenue when: |
The amount of revenue can be reliably measured; |
it is probable that future economic benefits will flow to the entity; |
and specific criteria have been met for each of the company's activities. |
DIVIDENDS |
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST OR VALUATION |
At 1 July 2022 |
Revaluations |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Cost or valuation at 30 June 2023 is represented by: |
Freehold |
property |
£ |
Valuation in 2023 | 2,429,500 |
Starlake CAIA Limited (Registered number: 09028102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Shareholder's loan account |
Corporation tax liability |
Directors' current accounts | 921,424 | 1,290,381 |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary Shares A Class | 1 | 50 | 50 |
Ordinary Shares B Class | 1 | 25 | 25 |
75 | 75 |
10. | DIVIDENDS |
2023 | 2022 |
£ | £ |
Interim dividend of £80 (2022 - £80.00) per ordinary share | 4,000 | 4,000 |
11. | INVESTMENT PROPERTIES |
The investments properties were revalued on fair value basis by Mr D A Mussell, a director and shareholder of the company at 30 June 2023. Directors of the company believe that this valuation remains appropriate at the end of the current financial year. The historical cost of these properties were £1,785,431 (2022: £1,785,431). |