Star Libra Limited 14008745 false 2022-03-29 2023-03-31 2023-03-31 The principal activity of the company is Buy to Let Investment Property Digita Accounts Production Advanced 6.30.9574.0 true 14008745 2022-03-29 2023-03-31 14008745 2023-03-31 14008745 core:RetainedEarningsAccumulatedLosses 2023-03-31 14008745 core:ShareCapital 2023-03-31 14008745 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14008745 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 14008745 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 14008745 core:OtherRelatedParties 2023-03-31 14008745 bus:SmallEntities 2022-03-29 2023-03-31 14008745 bus:AuditExemptWithAccountantsReport 2022-03-29 2023-03-31 14008745 bus:FullAccounts 2022-03-29 2023-03-31 14008745 bus:SmallCompaniesRegimeForAccounts 2022-03-29 2023-03-31 14008745 bus:RegisteredOffice 2022-03-29 2023-03-31 14008745 bus:Director1 2022-03-29 2023-03-31 14008745 bus:PrivateLimitedCompanyLtd 2022-03-29 2023-03-31 14008745 core:OtherRelatedParties 2022-03-29 2023-03-31 14008745 countries:AllCountries 2022-03-29 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14008745

Star Libra Limited

Annual Report and Unaudited Financial Statements

for the Period from 29 March 2022 to 31 March 2023

 

Star Libra Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Star Libra Limited

(Registration number: 14008745)
Balance Sheet as at 31 March 2023

Note

2023

   

£

£

Fixed assets

   

Investment property

4

 

440,340

Current assets

   

Debtors

5

4,852

 

Cash at bank and in hand

 

11,881

 

 

16,733

 

Creditors: Amounts falling due within one year

6

(1,958)

 

Net current assets

   

14,775

Total assets less current liabilities

   

455,115

Creditors: Amounts falling due after more than one year

6

 

(460,000)

Net liabilities

   

(4,885)

Capital and reserves

   

Called up share capital

7

100

 

Profit and loss account

(4,985)

 

Total equity

   

(4,885)

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Mr P D Jackson
Director

 

Star Libra Limited

Notes to the Unaudited Financial Statements for the Period from 29 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
c/o York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

2

Accounting policies

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.

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

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 presentation currency is pound sterling.

Revenue recognition

Turnover represents amounts chargeable in respect of short term rents.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Star Libra Limited

Notes to the Unaudited Financial Statements for the Period from 29 March 2022 to 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 2.

4

Investment properties

2023
£

Additions

440,340

At 31 March 2023

440,340

There has been no valuation of investment property by an independent valuer.

 

Star Libra Limited

Notes to the Unaudited Financial Statements for the Period from 29 March 2022 to 31 March 2023

5

Debtors

Current

2023
£

Other debtors

4,852

6

Creditors

2023
£

Due within one year

Loans and borrowings

458

Accruals and deferred income

1,500

1,958

2023
£

Due after one year

Loans and borrowings

460,000

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     

8

Related party transactions

Summary of transactions with other related parties

The transaction with the other related party is from an associated company under common control and is an interest free loan.
 

Expenditure with and payables to related parties

2023

Key management
£

Other related parties
£

Amounts payable to related party

458

460,000