Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11546931 2022-09-01 2023-08-31 11546931 2021-09-01 2022-08-31 11546931 2023-08-31 11546931 2022-08-31 11546931 c:Director1 2022-09-01 2023-08-31 11546931 d:FreeholdInvestmentProperty 2023-08-31 11546931 d:FreeholdInvestmentProperty 2022-08-31 11546931 d:CurrentFinancialInstruments 2023-08-31 11546931 d:CurrentFinancialInstruments 2022-08-31 11546931 d:Non-currentFinancialInstruments 2023-08-31 11546931 d:Non-currentFinancialInstruments 2022-08-31 11546931 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11546931 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11546931 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11546931 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11546931 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 11546931 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 11546931 d:ShareCapital 2023-08-31 11546931 d:ShareCapital 2022-08-31 11546931 d:OtherMiscellaneousReserve 2022-09-01 2023-08-31 11546931 d:OtherMiscellaneousReserve 2023-08-31 11546931 d:OtherMiscellaneousReserve 2022-08-31 11546931 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 11546931 d:RetainedEarningsAccumulatedLosses 2023-08-31 11546931 d:RetainedEarningsAccumulatedLosses 2022-08-31 11546931 c:OrdinaryShareClass1 2022-09-01 2023-08-31 11546931 c:OrdinaryShareClass1 2023-08-31 11546931 c:OrdinaryShareClass1 2022-08-31 11546931 c:FRS102 2022-09-01 2023-08-31 11546931 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11546931 c:FullAccounts 2022-09-01 2023-08-31 11546931 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11546931









STARRUS PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
STARRUS PROPERTIES LIMITED
REGISTERED NUMBER: 11546931

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,400,000
2,400,000

  
2,400,000
2,400,000

Current assets
  

Debtors: amounts falling due within one year
 5 
36,472
36,473

Cash at bank and in hand
 6 
9,691
17,268

  
46,163
53,741

Creditors: amounts falling due within one year
 7 
(1,569,466)
(1,610,365)

Net current liabilities
  
 
 
(1,523,303)
 
 
(1,556,624)

Total assets less current liabilities
  
876,697
843,376

Creditors: amounts falling due after more than one year
 8 
(1,031,351)
(1,031,343)

  

Net liabilities
  
(154,654)
(187,967)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 11 
(155,485)
(155,485)

Profit and loss account
 11 
731
(32,582)

  
(154,654)
(187,967)


Page 1

 
STARRUS PROPERTIES LIMITED
REGISTERED NUMBER: 11546931
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M E Keough
Director

Date: 9 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Starrus Properties Limited is a private company limited by shares and incorporated in England (registered number 11546931). 
The registered office is 16 Blomfield Court 35 Maida Vale, London, England, W9 1TS, which is also the principal place of business.
The principal activity of the company is that of a property investor.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the director for financial support, which the director is confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 August 2023, the company had net liabilities of £147,333. The company relies on the support of its parent company in order to meet its medium term capital requirements. The director has indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholder.

Page 3

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
2,400,000



At 31 August 2023
2,400,000

The 2023 valuations were made by the director, on an open market value for existing use basis.




Page 5

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Deferred taxation
36,472
36,473

36,472
36,473



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
9,691
17,268

9,691
17,268



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
12,865
47,598

Amounts owed to group undertakings
798,833
798,833

Corporation tax
7,321
-

Other creditors
748,197
761,684

Accruals and deferred income
2,250
2,250

1,569,466
1,610,365


Page 6

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,031,351
1,031,343

1,031,351
1,031,343


The following liabilities were secured:

2023
2022
£
£



Bank loans falling due within 1 year
12,865
47,598

Bank loans falling due 2-5 years
1,031,351
1,031,343

1,044,216
1,078,941

Details of security provided:

Total bank loans in the sum of £1,044,216 (2022: £1,078,941) are secured against the investment property assets of the company.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
12,865
47,598


12,865
47,598


Amounts falling due 2-5 years

Bank loans
1,031,351
1,031,343


1,031,351
1,031,343


1,044,216
1,078,941


Page 7

 
STARRUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Reserves

Other reserves

Includes a decrease in the fair value of an investment property. The figure is stated net of the associated deferred tax liability. This reserve is non-distributable. 

Profit and loss account

Includes all current and prior period retained profits and losses. 


12.


Controlling party

The ultimate controlling party is the parent company Starrus Ventures LLC a company incorporated in the United states of America. The registered office is Office 40, suite 700, 90 State Street, Albany NY 12207, United States of America.  

 
Page 8