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REGISTERED NUMBER: 10067722 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STARFAME LIMITED

STARFAME LIMITED (REGISTERED NUMBER: 10067722)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STARFAME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs E Endzweig





REGISTERED OFFICE: 123 Clapton Common
C/O Midos
London
E5 9AB





REGISTERED NUMBER: 10067722 (England and Wales)





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

STARFAME LIMITED (REGISTERED NUMBER: 10067722)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 809 951
Investment property 6 1,019,366 1,019,366
1,020,175 1,020,317

CURRENT ASSETS
Debtors 7 36,053 30,650
Cash at bank 27,584 5,498
63,637 36,148
CREDITORS
Amounts falling due within one year 8 (249,377 ) (208,290 )
NET CURRENT LIABILITIES (185,740 ) (172,142 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

834,435

848,175

CREDITORS
Amounts falling due after more than one
year

9

(536,699

)

(563,923

)
NET ASSETS 297,736 284,252

CAPITAL AND RESERVES
Called up share capital 12 1 1
Fair value reserve 13 30,663 30,663
Retained earnings 13 267,072 253,588
SHAREHOLDERS' FUNDS 297,736 284,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

STARFAME LIMITED (REGISTERED NUMBER: 10067722)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 10 January 2025 and were signed by:





Mrs E Endzweig - Director


STARFAME LIMITED (REGISTERED NUMBER: 10067722)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Starfame 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognized initially at cost. Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognized in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

Acquisition and disposal of investment property
Acquisition and disposals are considered to have taken place at the date of legal completion and are recognized in the financial statements accordingly.

Taxation
Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the extenrecognizedrelates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognized 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.


STARFAME LIMITED (REGISTERED NUMBER: 10067722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognized 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 recognized 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 recognized 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 (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 1,849
DEPRECIATION
At 1 April 2023 898
Charge for year 142
At 31 March 2024 1,040
NET BOOK VALUE
At 31 March 2024 809
At 31 March 2023 951

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,019,366
NET BOOK VALUE
At 31 March 2024 1,019,366
At 31 March 2023 1,019,366

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 30,663
Cost 988,703
1,019,366

STARFAME LIMITED (REGISTERED NUMBER: 10067722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INVESTMENT PROPERTY - continued

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
31.3.24 31.3.23
£    £   
Trade debtors 5,403 -
Other debtors 30,650 30,650
36,053 30,650

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - 4,144
Taxation and social security 4,542 10,152
Other creditors 244,835 193,994
249,377 208,290

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 520,449 540,870
Other creditors 16,250 23,053
536,699 563,923

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 520,449 540,870

Other creditors includes Bounceback Loan of £16,250 [2023 - £23,053]. 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:

31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 16,250 23,053

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 520,449 540,870

STARFAME LIMITED (REGISTERED NUMBER: 10067722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 520,449 540,870

Bank loan is secured by fixed charge over the investment property of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 253,588 30,663 284,251
Profit for the year 13,484 13,484
At 31 March 2024 267,072 30,663 297,735