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REGISTERED NUMBER: 02855969 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Seven Stars Property Solutions Limited

Seven Stars Property Solutions Limited (Registered number: 02855969)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seven Stars Property Solutions Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: A S Arram





SECRETARY: A S Arram





REGISTERED OFFICE: Burleigh Arches Farmhouse
East Street
Turners Hill
West Sussex
RH10 4QA





REGISTERED NUMBER: 02855969 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Seven Stars Property Solutions Limited (Registered number: 02855969)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,207 1,509
Investment property 5 2,029,713 2,029,713
2,030,920 2,031,222

CURRENT ASSETS
Debtors 6 283,980 285,651
Cash at bank 15 457
283,995 286,108
CREDITORS
Amounts falling due within one year 7 (33,040 ) (34,480 )
NET CURRENT ASSETS 250,955 251,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,281,875

2,282,850

CREDITORS
Amounts falling due after more than one year 8 (510,706 ) (510,710 )

PROVISIONS FOR LIABILITIES 9 (145,628 ) (145,686 )
NET ASSETS 1,625,541 1,626,454

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 891,589 891,589
Retained earnings 10 733,951 734,864
1,625,541 1,626,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Seven Stars Property Solutions Limited (Registered number: 02855969)

Balance Sheet - continued
30 September 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 by the director and authorised for issue on 25 February 2025 and were signed by:





A S Arram - Director


Seven Stars Property Solutions Limited (Registered number: 02855969)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Seven Stars Property Solutions 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 (£).


The principal activity of the company continued to be that of renting of properties.

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 rental income received .

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-putable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Seven Stars Property Solutions Limited (Registered number: 02855969)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 1,834
DEPRECIATION
At 1 October 2023 325
Charge for year 302
At 30 September 2024 627
NET BOOK VALUE
At 30 September 2024 1,207
At 30 September 2023 1,509

Seven Stars Property Solutions Limited (Registered number: 02855969)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 2,029,713
NET BOOK VALUE
At 30 September 2024 2,029,713
At 30 September 2023 2,029,713

Investment property comprises of 9 properties. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by directors. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2002 149,465
Valuation in 2007 298,169
Valuation in 2014 190,000
Valuation in 2016 379,742
Valuation in 2020 19,611
Cost 992,726
2,029,713

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 283,980 285,651

The directors consider the carrying value of trade and other receivables approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,799 5,285
Trade creditors 876 5,637
Taxation and social security 9,180 3,812
Other creditors 20,185 19,746
33,040 34,480

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Seven Stars Property Solutions Limited (Registered number: 02855969)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 510,706 510,710

Amounts falling due in more than five years:

Repayable by instalments
Bounce back loan - > 5 years 4,309 -

Legal charges at Companies House has been registered by National Westminster Bank PLC for the loan taken by company, which has fixed charges and contains negative pledge over investment properties.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 145,628 145,686

Deferred
tax
£   
Balance at 1 October 2023 145,686
Provided during year (58 )
Balance at 30 September 2024 145,628

10. RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the Fair value model for the measurement of its investment properties. The reserve records the fair value surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

Seven Stars Property Solutions Limited (Registered number: 02855969)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A S Arram
Balance outstanding at start of year 226,438 226,442
Amounts advanced 59,118 54,039
Amounts repaid (59,118 ) (54,043 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 226,438 226,438

12. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other debtors were amounts due from the director of £226,438 (2023 : £226,438). This loan is interest free and repaid on demand.