IRIS Accounts Production v24.3.0.553 11066356 Board of Directors 29.11.22 28.11.23 28.11.23 false true false false true false 137 54807 760877 185549 350337 130879 410403 137 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110663562022-11-28110663562023-11-28110663562022-11-292023-11-28110663562021-11-29110663562021-11-302022-11-28110663562022-11-2811066356ns15:EnglandWales2022-11-292023-11-2811066356ns14:PoundSterling2022-11-292023-11-2811066356ns10:Director12022-11-292023-11-2811066356ns10:PrivateLimitedCompanyLtd2022-11-292023-11-2811066356ns10:SmallEntities2022-11-292023-11-2811066356ns10:AuditExempt-NoAccountantsReport2022-11-292023-11-2811066356ns10:SmallCompaniesRegimeForDirectorsReport2022-11-292023-11-2811066356ns10:SmallCompaniesRegimeForAccounts2022-11-292023-11-2811066356ns10:FullAccounts2022-11-292023-11-2811066356ns10:Director2422022-11-2811066356ns10:Director2422021-11-2911066356ns10:Director2422022-11-292023-11-2811066356ns10:Director2422021-11-302022-11-2811066356ns10:Director2422023-11-2811066356ns10:Director2422022-11-2811066356ns10:Director22022-11-292023-11-2811066356ns10:RegisteredOffice2022-11-292023-11-2811066356ns5:CurrentFinancialInstruments2023-11-2811066356ns5:CurrentFinancialInstruments2022-11-2811066356ns5:Non-currentFinancialInstruments2023-11-2811066356ns5:Non-currentFinancialInstruments2022-11-2811066356ns5:ShareCapital2023-11-2811066356ns5:ShareCapital2022-11-2811066356ns5:SharePremium2023-11-2811066356ns5:SharePremium2022-11-2811066356ns5:RevaluationReserve2023-11-2811066356ns5:RevaluationReserve2022-11-2811066356ns5:RetainedEarningsAccumulatedLosses2023-11-2811066356ns5:RetainedEarningsAccumulatedLosses2022-11-2811066356ns5:PlantMachinery2022-11-292023-11-2811066356ns5:FurnitureFittings2022-11-292023-11-2811066356ns5:MotorVehicles2022-11-292023-11-2811066356ns5:ComputerEquipment2022-11-292023-11-2811066356ns5:PlantMachinery2022-11-2811066356ns5:FurnitureFittings2022-11-2811066356ns5:MotorVehicles2022-11-2811066356ns5:ComputerEquipment2022-11-2811066356ns5:PlantMachinery2023-11-2811066356ns5:FurnitureFittings2023-11-2811066356ns5:MotorVehicles2023-11-2811066356ns5:ComputerEquipment2023-11-2811066356ns5:PlantMachinery2022-11-2811066356ns5:FurnitureFittings2022-11-2811066356ns5:MotorVehicles2022-11-2811066356ns5:ComputerEquipment2022-11-2811066356ns5:CostValuation2022-11-2811066356ns5:AdditionsToInvestments2023-11-2811066356ns5:DisposalsRepaymentsInvestments2023-11-2811066356ns5:RevaluationsIncreaseDecreaseInInvestments2023-11-2811066356ns5:CostValuation2023-11-2811066356ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-2811066356ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-2811066356ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-11-2811066356ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2022-11-2811066356ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-2811066356ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-11-2811066356ns5:RevaluationReserve2022-11-28110663561ns10:Director12022-11-28110663561ns10:Director12021-11-29110663561ns10:Director12022-11-292023-11-28110663561ns10:Director12021-11-302022-11-28110663561ns10:Director12023-11-28110663561ns10:Director12022-11-28
REGISTERED NUMBER: 11066356 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 NOVEMBER 2023

FOR

STARFISH PROPERTIES (BRIGHTON) LIMITED

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STARFISH PROPERTIES (BRIGHTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 NOVEMBER 2023







DIRECTORS: Ms J C J Bunday
I R Bunday





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 11066356 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

BALANCE SHEET
28 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,967 3,915
Investments 5 11,391,899 11,282,660
11,434,866 11,286,575

CURRENT ASSETS
Debtors 6 685,959 79,829
Cash at bank 6,848 18,437
692,807 98,266
CREDITORS
Amounts falling due within one year 7 287,937 150,717
NET CURRENT ASSETS/(LIABILITIES) 404,870 (52,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,839,736

11,234,124

CREDITORS
Amounts falling due after more than one
year

8

(6,271,411

)

(5,750,371

)

PROVISIONS FOR LIABILITIES (407,829 ) (384,772 )
NET ASSETS 5,160,496 5,098,981

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 3,818,658 3,818,658
Revaluation reserve 10 1,341,133 1,154,318
Retained earnings 703 126,003
5,160,496 5,098,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 2023 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.

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

BALANCE SHEET - continued
28 NOVEMBER 2023


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 28 November 2024 and were signed on its behalf by:





I R Bunday - Director


STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

1. STATUTORY INFORMATION

Starfish Properties (Brighton) 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 rents received in respect of the properties owned by the company. Turnover is recognised at the point it becomes due from the tenant.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 29 November 2022 140 13,181 86,350 8,400 108,071
Additions - - 51,775 798 52,573
Disposals (140 ) (11,674 ) (86,350 ) (954 ) (99,118 )
At 28 November 2023 - 1,507 51,775 8,244 61,526
DEPRECIATION
At 29 November 2022 140 12,386 86,350 5,280 104,156
Charge for year - 350 11,759 1,412 13,521
Eliminated on disposal (140 ) (11,674 ) (86,350 ) (954 ) (99,118 )
At 28 November 2023 - 1,062 11,759 5,738 18,559
NET BOOK VALUE
At 28 November 2023 - 445 40,016 2,506 42,967
At 28 November 2022 - 795 - 3,120 3,915

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 29 November 2022 11,282,660
Additions 50
Disposals (100,683 )
Revaluations 209,872
At 28 November 2023 11,391,899
NET BOOK VALUE
At 28 November 2023 11,391,899
At 28 November 2022 11,282,660

Cost or valuation at 28 November 2023 is represented by:

Other
investments
£   
Valuation in 2021 1,539,090
Valuation in 2023 209,872
Cost 9,642,937
11,391,899

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 136,242 79,821
Other debtors 300 8
Directors' loan accounts 410,403 -
Tax 138,511 -
Prepayments 503 -
685,959 79,829

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,098 9,852
Trade creditors - 420
Amounts owed to associates 67,493 68,741
Tax 167,987 28,376
Other creditors 40,000 41,212
Directors' loan accounts - 137
Accrued expenses 2,359 1,979
287,937 150,717

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,246,276 5,733,857
Bank loans - 2-5 years 25,135 16,514
6,271,411 5,750,371

9. SECURED DEBTS

Bank borrowing is secured by way of a charge over the investment properties owned by the company.

10. RESERVES
Revaluation
reserve
£   
At 29 November 2022 1,154,318
Revaluation reserve 186,815

At 28 November 2023 1,341,133

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 28 November 2023 and the period ended 28 November 2022:

2023 2022
£    £   
I R Bunday and Ms J C J Bunday
Balance outstanding at start of year (137 ) (54,807 )
Amounts advanced 760,877 185,549
Amounts repaid (350,337 ) (130,879 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 410,403 (137 )

This balance represented the maximum amount outstanding during the year. Interest is charged on any overdrawn amounts at the beneficial loan interest rate. This has resulted in an interest charge of £6,706.

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 NOVEMBER 2023

12. RELATED PARTY DISCLOSURES

As at 28 November 2023, the company owed Woodmancote Properties Limited £67,279 (2022: £68,741). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.
Ms J C J Bunday and I R Bunday are majority shareholders and directors of Woodmancote Properties Limited.

As at 28 November 2023, Clifton Properties (Brighton) Limited owed the company £136,242 (2022: £79,821). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.
Ms J C J Bunday and I R Bunday are majority shareholders and directors of Clifton Properties (Brighton) Limited.

As at 28 November 2023, the company owed Compton Properties Ltd £214. All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Bunday and Mrs J Bunday by virtue of their 100% holding of the issued share capital.