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Registration number: 11343875

Star Camelford Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Star Camelford Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Star Camelford Limited

Company Information

Director

Mr B Keith

Registered office

255 Old Shoreham Road
Hove
East Sussex
BN3 7ED

Accountants

SRC Advisory Ltd
2nd Floor
Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB

 

Star Camelford Limited

(Registration number: 11343875)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

995

Investment property

5

1,520,000

1,425,000

 

1,520,000

1,425,995

Current assets

 

Debtors

6

384

351

Cash at bank and in hand

 

7,104

13,610

 

7,488

13,961

Creditors: Amounts falling due within one year

7

(481,646)

(454,759)

Net current liabilities

 

(474,158)

(440,798)

Total assets less current liabilities

 

1,045,842

985,197

Creditors: Amounts falling due after more than one year

7

(911,009)

(912,121)

Provisions for liabilities

(18,907)

(4,268)

Net assets

 

115,926

68,808

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

115,925

68,807

Shareholders' funds

 

115,926

68,808

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

Approved and authorised by the director on 21 October 2024
 

Mr B Keith

Director

 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The registered number is 11343875.

The address of its registered office is:
255 Old Shoreham Road
Hove
East Sussex
BN3 7ED
England

These financial statements were authorised for issue by the director on 21 October 2024.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention excpt that as disclosed in the accounting policies certain items are shown at fair value.

 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises 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.

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.

 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Fixtures & Fittings

25% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,111

1,111

Disposals

(1,111)

(1,111)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

116

116

Eliminated on disposal

(116)

(116)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

995

995

5

Investment properties

2024
£

At 1 April 2023

1,425,000

Additions

17,952

Fair value adjustments included in the profit and loss account

77,048

At 31 March 2024

1,520,000

The investment properties have been valued at the balance sheet date by Mr B Keith , a director of the company. The value has been calculated using local property information and where available post balance sheet estate agent valuations.

 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

384

351

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

2,000

2,000

Trade creditors

 

1,050

3,819

Amounts owed to group undertakings and undertakings in which the company has a participating interest

475,096

446,590

Accruals and deferred income

 

1,500

1,350

Other creditors

 

2,000

1,000

 

481,646

454,759

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

911,009

912,121

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         
 

Star Camelford Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

911,009

912,121

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,000

2,000

The bank loans are secured by a fixed and floating charge over the company’s investment property and by a floating charge over the assets of the company.

10

Control

The company's immediate parent is Star Property Investment & Management Limited, incorporated in England and Wales.

 The ultimate controlling party is Mr B Keith.