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REGISTERED NUMBER: 04889007 (England and Wales)










Unaudited Financial Statements

for the Period

29 September 2022 to 30 September 2023

for

Nova Stellar Property Management Limited

Nova Stellar Property Management Limited (Registered number: 04889007)






Contents of the Financial Statements
for the Period 29 September 2022 to 30 September 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


Nova Stellar Property Management Limited

Company Information
for the Period 29 September 2022 to 30 September 2023







DIRECTOR: S Dowie





SECRETARY: K E Dowie





REGISTERED OFFICE: 1 Harbour View Littlehaven
South Shields
Newcastle Upon Tyne
Tyne and Wear
NE33 1LR





REGISTERED NUMBER: 04889007 (England and Wales)





ACCOUNTANTS: M. J. Shapcott & Co. Limited
Chartered Accountants
Charter House, Wyvern Court
Stanier Way
Derby
DE21 6BF

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Nova Stellar Property Management Limited

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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nova Stellar Property Management Limited for the period ended 30 September 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nova Stellar Property Management Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nova Stellar Property Management Limited and state those matters that we have agreed to state to the director of Nova Stellar Property Management Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nova Stellar Property Management Limited and its director for our work or for this report.

It is your duty to ensure that Nova Stellar Property Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nova Stellar Property Management Limited. You consider that Nova Stellar Property Management Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Nova Stellar Property Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






M. J. Shapcott & Co. Limited
Chartered Accountants
Charter House, Wyvern Court
Stanier Way
Derby
DE21 6BF


8 November 2024

Nova Stellar Property Management Limited (Registered number: 04889007)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 693 924
Investment property 5 1,310,000 1,307,500
1,310,693 1,308,424

CURRENT ASSETS
Debtors 6 5,745 29,932
Cash at bank 6,001 3,266
11,746 33,198
CREDITORS
Amounts falling due within one year 7 17,824 36,518
NET CURRENT LIABILITIES (6,078 ) (3,320 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,304,615 1,305,104

CREDITORS
Amounts falling due after more than one year 8 (924,220 ) (915,035 )

PROVISIONS FOR LIABILITIES (63,317 ) -

ACCRUALS AND DEFERRED INCOME (12,926 ) (15,380 )
NET ASSETS 304,152 374,689

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 174,923 -
Retained earnings 129,228 374,688
304,152 374,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 8 November 2024 and were signed by:




S Dowie - Director


Nova Stellar Property Management Limited (Registered number: 04889007)

Notes to the Financial Statements
for the Period 29 September 2022 to 30 September 2023

1. STATUTORY INFORMATION

Nova Stellar Property Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is recognised at the fair value of the consideration receivable for rental income in the normal course of business, and is shown net of VAT.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Nova Stellar Property Management Limited (Registered number: 04889007)

Notes to the Financial Statements - continued
for the Period 29 September 2022 to 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors and bank loans, 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 payments discounted at a market rate of interest.

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

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of
transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no
longer at the discretion of the company.

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 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 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.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

Nova Stellar Property Management Limited (Registered number: 04889007)

Notes to the Financial Statements - continued
for the Period 29 September 2022 to 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 29 September 2022
and 30 September 2023 3,451
DEPRECIATION
At 29 September 2022 2,527
Charge for period 231
At 30 September 2023 2,758
NET BOOK VALUE
At 30 September 2023 693
At 28 September 2022 924

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 September 2022 1,307,500
Revaluations 2,500
At 30 September 2023 1,310,000
NET BOOK VALUE
At 30 September 2023 1,310,000
At 28 September 2022 1,307,500

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 235,740
Valuation in 2023 2,500
Cost 1,071,760
1,310,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,071,760 -
Aggregate depreciation (21,435 ) -

Investment property was valued on an open market basis on 30 September 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,745 7,254
Other debtors - 22,678
5,745 29,932

Nova Stellar Property Management Limited (Registered number: 04889007)

Notes to the Financial Statements - continued
for the Period 29 September 2022 to 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,894 14,899
Taxation and social security 9,901 16,530
Other creditors 5,029 5,089
17,824 36,518

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 924,220 915,035

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 921,561 915,035

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 927,114 929,934

The director has provided a personal guarantee over the mortgages held by the company.

10. RESERVES
Fair
value
reserve
£   
Transfer 174,923

At 30 September 2023 174,923