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Registration number: 05405415

Cranleigh Star Development Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Cranleigh Star Development Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cranleigh Star Development Ltd

Company Information

Directors

H C Robbie

J E Robbie

Registered office

Astra House
The Common
Cranleigh
Surrey
GU6 8RE

Accountants

Courtlands
62 Copsem Lane
Oxshott
Surrey
KT22 0NT

 

Cranleigh Star Development Ltd

(Registration number: 05405415)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,730

13,232

Investment property

5

2,200,000

1,496,627

 

2,208,730

1,509,859

Current assets

 

Debtors

6

58,353

28,211

Cash at bank and in hand

 

321,781

333,221

 

380,134

361,432

Creditors: Amounts falling due within one year

7

(418,875)

(529,868)

Net current liabilities

 

(38,741)

(168,436)

Net assets

 

2,169,989

1,341,423

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

703,373

-

Retained earnings

1,466,516

1,341,323

Shareholders' funds

 

2,169,989

1,341,423

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 February 2025 and signed on its behalf by:
 

.........................................
H C Robbie
Director

.........................................
J E Robbie
Director

 
     
 

Cranleigh Star Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Astra House
The Common
Cranleigh
Surrey
GU6 8RE

These financial statements were authorised for issue by the Board on 3 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents and services rendered and is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises corporation tax chargeable at current rates and is assessed on taxable profits for the year.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Cranleigh Star Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Asset class

Depreciation method and rate

Furniture, fixtures and fittings

20% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers in respect of rents due and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Cranleigh Star Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 June 2023

73,458

73,458

At 31 May 2024

73,458

73,458

Depreciation

At 1 June 2023

60,227

60,227

Charge for the year

4,501

4,501

At 31 May 2024

64,728

64,728

Carrying amount

At 31 May 2024

8,730

8,730

At 31 May 2023

13,232

13,232

5

Investment properties

2024
£

At 1 June 2023

1,496,627

Fair value adjustments

703,373

At 31 May 2024

2,200,000


The directors have revalued the investment property based on valuations provided by two independent professional surveyors.

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,466

7,738

Prepayments

8,260

2,935

Other debtors

40,627

17,538

 

58,353

28,211

 

Cranleigh Star Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

82,600

74,317

Amounts owed to group undertakings and undertakings in which the company has a participating interest

287,014

370,289

Taxation and social security

 

45,261

82,012

Accruals and deferred income

 

4,000

3,250

 

418,875

529,868

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Parent and ultimate parent undertaking

The company's immediate parent is Crown Hall Estates Limited, incorporated in England & Wales.