REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 NOVEMBER 2023 |
FOR |
STARFISH PROPERTIES (BRIGHTON) LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 10 |
Retained earnings |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 November 2023 |
DEPRECIATION |
At 29 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 November 2023 |
NET BOOK VALUE |
At 28 November 2023 |
At 28 November 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 29 November 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 28 November 2023 |
NET BOOK VALUE |
At 28 November 2023 |
At 28 November 2022 |
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 |
Other debtors |
Directors' loan accounts | 410,403 | - |
Tax |
Prepayments |
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 |
Trade creditors |
Amounts owed to associates | 67,493 | 68,741 |
Tax |
Other creditors |
Directors' loan accounts | - | 137 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
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 |
Revaluation reserve | 186,815 |
At 28 November 2023 |
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 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
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. |