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REGISTERED NUMBER: 11050375 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

STARWORTH PROPERTIES LIMITED

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STARWORTH PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: J Endzweig





REGISTERED OFFICE: Rear of 123
Clapton Common
E5 9AB





REGISTERED NUMBER: 11050375 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 960 1,129
Investment property 6 1,993,876 1,891,281
1,994,836 1,892,410

CURRENT ASSETS
Debtors 7 1,254 1,528
Cash at bank 105,341 42,148
106,595 43,676
CREDITORS
Amounts falling due within one year 8 (1,487,535 ) (1,378,611 )
NET CURRENT LIABILITIES (1,380,940 ) (1,334,935 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

613,896

557,475

CREDITORS
Amounts falling due after more than one
year

9

(370,631

)

(389,212

)
NET ASSETS 243,265 168,263

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 13 243,263 168,261
SHAREHOLDERS' FUNDS 243,265 168,263

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

STATEMENT OF FINANCIAL POSITION - continued
30 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 and authorized for issue by the director and authorised for issue on 28 November 2024 and were signed by:





J Endzweig - Director


STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Starworth 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

4. EMPLOYEES AND DIRECTORS

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

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2022
and 30 November 2023 2,265
DEPRECIATION
At 1 December 2022 1,136
Charge for year 169
At 30 November 2023 1,305
NET BOOK VALUE
At 30 November 2023 960
At 30 November 2022 1,129

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,891,281
Additions 102,595
At 30 November 2023 1,993,876
NET BOOK VALUE
At 30 November 2023 1,993,876
At 30 November 2022 1,891,281

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 1,254 1,528

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 84,068 67
Taxation and social security 37,487 15,020
Other creditors 1,365,980 1,363,524
1,487,535 1,378,611

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 10) 351,881 362,962
Other creditors 18,750 26,250
370,631 389,212

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 351,881 362,962

Other creditors includes Bounceback loan of £18,750 [2022 - £26,250]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 18,750 26,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 351,881 362,962

11. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 351,881 362,962

Bank loan is secured by first charge over the company's investment property.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
2 Ordinary £1 2 2

STARWORTH PROPERTIES LIMITED (REGISTERED NUMBER: 11050375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

13. RESERVES
Retained
earnings
£   

At 1 December 2022 168,261
Profit for the year 75,002
At 30 November 2023 243,263