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REGISTERED NUMBER: 11066356 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 NOVEMBER 2024

FOR

STARFISH PROPERTIES (BRIGHTON) LIMITED

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STARFISH PROPERTIES (BRIGHTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 NOVEMBER 2024







DIRECTORS: Ms J C J Bunday
I R Bunday





REGISTERED OFFICE: 15 West Street
Brighton
East Sussex
BN1 2RL





REGISTERED NUMBER: 11066356 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

BALANCE SHEET
28 NOVEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 43,439 42,967
Investments 5 10,619,899 11,391,899
10,663,338 11,434,866

CURRENT ASSETS
Debtors 6 808,945 548,750
Cash at bank 13,549 6,848
822,494 555,598
CREDITORS
Amounts falling due within one year 7 (79,372 ) (173,175 )
NET CURRENT ASSETS 743,122 382,423
TOTAL ASSETS LESS CURRENT LIABILITIES 11,406,460 11,817,289

CREDITORS
Amounts falling due after more than one year 8 (5,746,671 ) (6,249,654 )

PROVISIONS FOR LIABILITIES (428,891 ) (407,829 )
NET ASSETS 5,230,898 5,159,806

CAPITAL AND RESERVES
Called up share capital 3,818,660 3,818,660
Revaluation reserve 10 1,320,171 1,341,133
Retained earnings 92,067 13
5,230,898 5,159,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





I R Bunday - Director


STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024


1. STATUTORY INFORMATION

Starfish Properties (Brighton) 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.

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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 29 November 2023 1,507 51,775 8,244 61,526
Additions - - 20,000 20,000
At 28 November 2024 1,507 51,775 28,244 81,526
DEPRECIATION
At 29 November 2023 1,062 11,759 5,738 18,559
Charge for year 316 17,917 1,295 19,528
At 28 November 2024 1,378 29,676 7,033 38,087
NET BOOK VALUE
At 28 November 2024 129 22,099 21,211 43,439
At 28 November 2023 445 40,016 2,506 42,967

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 NOVEMBER 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 29 November 2023 11,391,899
Disposals (772,000 )
At 28 November 2024 10,619,899
NET BOOK VALUE
At 28 November 2024 10,619,899
At 28 November 2023 11,391,899

Cost or valuation at 28 November 2024 is represented by:

Other
investments
£   
Valuation in 2021 1,539,090
Valuation in 2023 217,872
Cost 8,862,937
10,619,899

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,200 -
Amounts owed by associates 674,063 136,242
Other debtors 300 300
Directors' loan accounts 98,227 387,955
Tax 23,750 23,750
Prepayments 1,405 503
808,945 548,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,354 10,098
Amounts owed to associates 518 67,493
Tax 24,679 53,226
Other creditors 41,300 40,000
Accrued expenses 2,521 2,358
79,372 173,175

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,746,671 6,243,490
Bank loans - 2-5 years - 6,164
5,746,671 6,249,654

9. SECURED DEBTS

Bank borrowing is secured by way of a charge over the investment properties owned by the company.

STARFISH PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 11066356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 NOVEMBER 2024


10. RESERVES
Revaluation
reserve
£   
At 29 November 2023 1,341,133
Revaluation reserve (20,962 )

At 28 November 2024 1,320,171

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 November 2024 and 28 November 2023:

2024 2023
£    £   
I R Bunday and Ms J C J Bunday
Balance outstanding at start of year 387,956 (137 )
Amounts advanced 332,136 759,519
Amounts repaid (621,865 ) (371,426 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 98,227 387,956

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 £6,436.

12. RELATED PARTY DISCLOSURES

As at 28 November 2024, the company owed Woodmancote Properties Limited £NIL (2023: £67,279). 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 2024, Clifton Properties (Brighton) Limited owed the company £674,063 (2023: £136,242). 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 2024, the company owed Compton Properties Ltd £518 (2023: £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.