IRIS Accounts Production v24.3.0.553 03019155 Board of Directors 1.3.23 28.2.24 28.2.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030191552023-02-28030191552024-02-28030191552023-03-012024-02-28030191552022-02-28030191552022-03-012023-02-28030191552023-02-2803019155ns15:EnglandWales2023-03-012024-02-2803019155ns14:PoundSterling2023-03-012024-02-2803019155ns10:Director12023-03-012024-02-2803019155ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2803019155ns10:SmallEntities2023-03-012024-02-2803019155ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2803019155ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2803019155ns10:FullAccounts2023-03-012024-02-2803019155ns10:OrdinaryShareClass12023-03-012024-02-2803019155ns10:Director22023-03-012024-02-2803019155ns10:RegisteredOffice2023-03-012024-02-2803019155ns5:CurrentFinancialInstruments2024-02-2803019155ns5:CurrentFinancialInstruments2023-02-2803019155ns5:Non-currentFinancialInstruments2024-02-2803019155ns5:Non-currentFinancialInstruments2023-02-2803019155ns5:ShareCapital2024-02-2803019155ns5:ShareCapital2023-02-2803019155ns5:FurtherSpecificReserve3ComponentTotalEquity2024-02-2803019155ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2803019155ns5:RetainedEarningsAccumulatedLosses2024-02-2803019155ns5:RetainedEarningsAccumulatedLosses2023-02-2803019155ns5:FurnitureFittings2023-03-012024-02-2803019155ns5:FurnitureFittings2023-02-2803019155ns5:FurnitureFittings2024-02-2803019155ns5:FurnitureFittings2023-02-2803019155ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2803019155ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2803019155ns5:Secured2024-02-2803019155ns5:Secured2023-02-2803019155ns5:DeferredTaxation2023-02-2803019155ns5:DeferredTaxation2023-03-012024-02-2803019155ns5:DeferredTaxation2024-02-2803019155ns10:OrdinaryShareClass12024-02-2803019155ns5:RetainedEarningsAccumulatedLosses2023-02-2803019155ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2803019155ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-28
REGISTERED NUMBER: 03019155 (England and Wales)












STARVIEW PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024






STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STARVIEW PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: Mr S Spyratos
Mrs M Spyratou





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 03019155 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 824 969
Investment property 5 3,074,518 2,575,238
3,075,342 2,576,207

CURRENT ASSETS
Debtors 6 527 338,260
Cash at bank and in hand 18,723 602,746
19,250 941,006
CREDITORS
Amounts falling due within one year 7 65,684 134,319
NET CURRENT (LIABILITIES)/ASSETS (46,434 ) 806,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,028,908

3,382,894

CREDITORS
Amounts falling due after more than one
year

8

(850,096

)

(850,381

)

PROVISIONS FOR LIABILITIES 11 (292,864 ) (293,091 )
NET ASSETS 1,885,948 2,239,422

CAPITAL AND RESERVES
Called up share capital 12 2 2
Fair value reserve 13 1,569,287 1,569,287
Retained earnings 13 316,659 670,133
SHAREHOLDERS' FUNDS 1,885,948 2,239,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2024 and were signed on its behalf by:





Mr S Spyratos - Director


STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

Starview Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents gross rents receivable for the year. Turnover is recognised when rent becomes due under the lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 28 February 2024 16,115
DEPRECIATION
At 1 March 2023 15,146
Charge for year 145
At 28 February 2024 15,291
NET BOOK VALUE
At 28 February 2024 824
At 28 February 2023 969

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 2,575,238
Additions 499,280
At 28 February 2024 3,074,518
NET BOOK VALUE
At 28 February 2024 3,074,518
At 28 February 2023 2,575,238

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2017 1,861,146
Cost 1,213,372
3,074,518

In the opinion of the directors, the fair value of the investment properties as at 28 February 2024, are not materially different from that stated in the accounts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Amounts due from related companies - 338,141
Prepayments 527 119
527 338,260

STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Tax - 69,000
Amounts due to related companies 61,456 61,456
Directors' loan accounts 748 623
Accrued expenses 3,480 3,240
65,684 134,319

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans (see note 9) 850,096 850,381

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 850,096 850,381

9. LOANS

An analysis of the maturity of loans is given below:

28.2.24 28.2.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans over 5 years 850,096 850,381

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Bank loans 850,096 850,381

The bank loans and overdraft are secured by fixed and floating charges over the investment properties and other assets of the company.

11. PROVISIONS FOR LIABILITIES
28.2.24 28.2.23
£    £   
Deferred tax 292,864 293,091

STARVIEW PROPERTIES LIMITED (REGISTERED NUMBER: 03019155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 293,091
Provided during year (227 )
Accelerated capital allowances
Balance at 28 February 2024 292,864

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2023 670,133 1,569,287 2,239,420
Deficit for the year (339,474 ) (339,474 )
Dividends (14,000 ) (14,000 )
At 28 February 2024 316,659 1,569,287 1,885,946

14. CONTROLLING PARTY

The trustees of Spyratos Capital Trust recognised as ultimate controlling party.