REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 17 March 2023 to 31 January 2024 |
for |
Stellar Property Group Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 17 March 2023 to 31 January 2024 |
for |
Stellar Property Group Ltd |
Stellar Property Group Ltd (Registered number: SC762684) |
Contents of the Financial Statements |
For The Period 17 March 2023 to 31 January 2024 |
Page |
Company Information | 1 |
Operating and Financial Review | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Report of the Accountants | 8 |
Stellar Property Group Ltd |
Company Information |
For The Period 17 March 2023 to 31 January 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |
Stellar Property Group Ltd (Registered number: SC762684) |
Operating and Financial Review |
For The Period 17 March 2023 to 31 January 2024 |
The company is dependent on continuing support from its directors and other lenders. The directors are committed to continue to provide financial support for the foreseeable future. Accordingly the financial statements has been prepared on a going concern basis. |
Stellar Property Group Ltd (Registered number: SC762684) |
Balance Sheet |
31 January 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges his 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. |
Stellar Property Group Ltd (Registered number: SC762684) |
Balance Sheet - continued |
31 January 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Stellar Property Group Ltd (Registered number: SC762684) |
Notes to the Financial Statements |
For The Period 17 March 2023 to 31 January 2024 |
1. | STATUTORY INFORMATION |
Stellar Property Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 period 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 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Stellar Property Group Ltd (Registered number: SC762684) |
Notes to the Financial Statements - continued |
For The Period 17 March 2023 to 31 January 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
5. | DEBTORS |
£ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The company has a long term loan to [UNKNOWN END DATE], repayable by [monthly/quarterly] installments with the Cynergy Bank. Interest is charged at [await agreement]. |
Cynergy Bank hold a floating charge covering all property and undertakings of the company, as well as a standard security over the property known as Ashfield House, 396-408 Sauchiehall St, Glasgow, G2 3JD (Title: GLA54661). |
Stellar Property Group Ltd (Registered number: SC762684) |
Notes to the Financial Statements - continued |
For The Period 17 March 2023 to 31 January 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is B Richards. |
The ultimate controlling party is |
Stellar Property Group Ltd |
Report of the Accountants to the Director of |
Stellar Property Group Ltd |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 January 2024 set out on page nil and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |