Company registration number 00528421 (England and Wales)
STARMOUNT (SECURITIES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
STARMOUNT (SECURITIES) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
STARMOUNT (SECURITIES) LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Investment property
4
30,245,000
29,650,000
Investments
5
153
153
30,245,153
29,650,153
Current assets
Debtors
7
20,737,417
19,630,081
Cash at bank and in hand
17
173
20,737,434
19,630,254
Creditors: amounts falling due within one year
8
(2,754,808)
(1,598,623)
Net current assets
17,982,626
18,031,631
Net assets
48,227,779
47,681,784
Capital and reserves
Called up share capital
9
426
426
Share premium account
41,061
41,061
Profit and loss reserves
48,186,292
47,640,297
Total equity
48,227,779
47,681,784

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
Mr M V Sternberg OBE KC KCFO
Director
Company registration number 00528421 (England and Wales)
STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -
1
Accounting policies
Company information

Starmount (Securities) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 31 Kentish Town Road, London, NW1 8NL. The principal place of business is Unit 3, Delta Court, Manor Way, Borehamwood, Herts., WD6 1FJ.

The principal activity of the company is that of property investment and to act as a holding company. The principal activities of the main subsidiaries are property dealing and developing and investing in properties.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on a going concern basis under the historical cost convention, as modified by the revaluation of investment properties measured at fair value. The changes in fair values are recognised in the statement of income and retained earnings.

Consolidation

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue recognition

The company's turnover represents gross property income comprising rental income, service charges and insurances recoverable from tenants exclusive of value added tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

1.4
Fixed assets - Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 3 -

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run. Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that this policy of not providing depreciation is necessary in order for the accounts to give a true and fair view, since the current value of investment properties and changes in that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.

The company's policy is to provide depreciation on all fixed assets other than on investment properties as stated above.

Property purchases and disposals

Purchases and disposals of investment properties are recognised where contracts have been completed during the accounting period. Net surpluses in excess of book values arising on the sale of investment properties are taken to the profit and loss account.

Property maintenance and refurbishment costs

Irrecoverable running costs directly attributable to specific properties within the company's portfolio are charged to the profit and loss account as costs of sales. Costs incurred in the improvement of the portfolio which, in the opinion of the directors, are not of a capital nature are written off to the profit and loss account as incurred.

Administration expenses

All costs not directly attributable to the individual properties are treated as administration expenses.

1.5
Fixed assets - Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less accumulated impairment losses.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10

Related party transactions

The company has taken advantage of the exemption from disclosing transactions with members of the group as they are wholly owned.

STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6

The directors of this company who are the only key employees, are also directors of all active companies within the group.

The group's payroll is operated by a subsidiary and apportioned to group companies as appropriate.

4
Investment property
2025
£
Fair value
At 1 December 2024
29,650,000
Additions
478,452
Disposals
(470,024)
Revaluations
586,572
At 30 November 2025
30,245,000
STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
4
Investment property
(Continued)
- 6 -

Investment property comprise both freehold and long leasehold properties and include freehold properties which are jointly owned with other parties as tenants in common.

All of the company's investment properties were valued at 30 November 2025 by Marc Robson B.Sc. (Estate Management) and a member of NAEA Propertymark. The valuations were carried out on an open market value basis. An appropriate all risk yield was applied to the rental income stream of each property to derive the capital value. The all risk yield factors in the following considerations; recent private treaty and auction investment sales; length of lease remaining and the risk of the tenant not renewing; quality of the town and how much supply/voids are in the location, whether rents are increasing/decreasing and then factoring this into the rental income stream; size of the unit and the condition of the unit.

The company's investment properties as at 30 November 2025 included long leasehold properties valued at £1,315,000 (2024 - £1,265,000) and related historical cost amounted to £1,214,777 at 30 November 2025 (2024 - £1,214,777).

The historical cost of investment properties including long leasehold properties at 30 November 2025 was £31,916,725 (2024 - £31,975,423).

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
153
153
6
Subsidiaries

Details of the company's subsidiaries at 30 November 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Martin Slowe Estates Limited
England and Wales
Ordinary
100.00
-
Myfield Limited
England and Wales
Ordinary
100.00
-
Workstone Limited
England and Wales
Ordinary
100.00
-
Botchergate Limited
England and Wales
Ordinary
0
100.00
STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 7 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
467,222
396,713
Amounts owed by group undertakings
19,638,144
18,614,390
Other debtors
32,551
19,478
20,137,917
19,030,581
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
599,500
599,500
Total debtors
20,737,417
19,630,081

Amounts owed by group undertakings are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

8
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
107,396
151,437
Other taxation and social security
86,354
85,160
Other creditors
2,561,058
1,362,026
2,754,808
1,598,623
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Equity ordinary A shares of £1 each
284
284
284
284
Equity ordinary B shares of £1 each
142
142
142
142
426
426
426
426
10
Financial instruments

Financial instruments are measured at historic cost. Debtors due after more than one year comprise of mortgages to unrelated parties at market rates in respect of properties disposed to these parties by companies within the group. All creditors are due within one year and repayable on demand.

STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
11
Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.

Profit and loss account - This reserve records retained earnings and accumulated losses.

12
Operating lease commitments
2025
2024
Future amounts receivable under operating leases:
£
£
Total due over the lease term
15,554,108
15,112,120
13
Contingencies

The company has given unlimited guarantees to the bankers of one subsidiary, Martin Slowe Estates Limited, to secure any borrowings. The company did not have any borrowings at any time during the current or previous year.

14
Related party transactions

Related parties

M V Sternberg OBE KC KCFO, P A Grossmith-Dwek, N Tamir and R M Slowe are all directors of the company.

Transactions with related parties

Included in other creditors (amounts falling due within one year), are loans to the company by related parties as follows:

Amount due to R M Slowe and P A Grossmith-Dwek either personally or parties related to them £2,234,788 (2024 - £1,025,422).

Interest payable to various related parties in respect of the loans to the company was as follows:

Amount payable to R M Slowe and P A Grossmith-Dwek either personally or parties related to them £61,073 (2024 - £35,350).

All the loans to the company that were outstanding as at the year end are unsecured and are repayable on demand. Interest was paid during the year on these loans at 3% which is regarded as a fair market rate. The total amount of interest paid in respect of the above loans that remained unpaid at the year end and included accruals and deferred income was £7,987 (2024 - £3,732).

Dividends paid to related parties were as follows:

Executors of the Estate of Sir Sigmund Sternberg Deceased £157,648 (2024 - £391,080)

M V Sternberg OBE KC KCFO £68,486 (2024 - £49,883)

Parties related to R M Slowe and P A Grossmith-Dwek £389,000 (2024 - £283,333)

Parties related to N Tamir £43,831 (2024 - £31,925)

The company is exempt from disclosing transactions with members of the group as they are wholly owned, other than amounts owed by group undertakings as disclosed in note 7.

Key management personnel

The directors are also the key management personnel.

STARMOUNT (SECURITIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 9 -
15
Controlling party

The company is not controlled by any single party.

2025-11-30 2024-12-01 false false false 06 August 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr M V Sternberg Mr P A Grossmith-Dwek Mr N Tamir Mr R Slowe D I Sternberg Mr H S A Raperport Ms Anjal Kariya Mr M L Wyman 00528421 2024-12-01 2025-11-30 00528421 2025-11-30 00528421 2024-11-30 00528421 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 00528421 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 00528421 core:CurrentFinancialInstruments 2025-11-30 00528421 core:CurrentFinancialInstruments 2024-11-30 00528421 core:ShareCapital 2025-11-30 00528421 core:ShareCapital 2024-11-30 00528421 core:SharePremium 2025-11-30 00528421 core:SharePremium 2024-11-30 00528421 core:RetainedEarningsAccumulatedLosses 2025-11-30 00528421 core:RetainedEarningsAccumulatedLosses 2024-11-30 00528421 core:ShareCapitalOrdinaryShareClass1 2025-11-30 00528421 core:ShareCapitalOrdinaryShareClass1 2024-11-30 00528421 core:ShareCapitalOrdinaryShareClass2 2025-11-30 00528421 core:ShareCapitalOrdinaryShareClass2 2024-11-30 00528421 core:ShareCapitalOrdinaryShares 2025-11-30 00528421 core:ShareCapitalOrdinaryShares 2024-11-30 00528421 bus:Director1 2024-12-01 2025-11-30 00528421 2023-12-01 2024-11-30 00528421 2024-11-30 00528421 core:Subsidiary1 2024-12-01 2025-11-30 00528421 core:Subsidiary2 2024-12-01 2025-11-30 00528421 core:Subsidiary3 2024-12-01 2025-11-30 00528421 core:Subsidiary4 2024-12-01 2025-11-30 00528421 core:Subsidiary1 1 2024-12-01 2025-11-30 00528421 core:Subsidiary2 2 2024-12-01 2025-11-30 00528421 core:Subsidiary3 3 2024-12-01 2025-11-30 00528421 core:Subsidiary4 4 2024-12-01 2025-11-30 00528421 core:Non-currentFinancialInstruments core:AfterOneYear 2025-11-30 00528421 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 00528421 bus:OrdinaryShareClass1 2024-12-01 2025-11-30 00528421 bus:OrdinaryShareClass2 2024-12-01 2025-11-30 00528421 bus:OrdinaryShareClass1 2025-11-30 00528421 bus:OrdinaryShareClass1 2024-11-30 00528421 bus:OrdinaryShareClass2 2025-11-30 00528421 bus:OrdinaryShareClass2 2024-11-30 00528421 bus:AllOrdinaryShares 2025-11-30 00528421 bus:AllOrdinaryShares 2024-11-30 00528421 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 00528421 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 00528421 bus:FRS102 2024-12-01 2025-11-30 00528421 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 00528421 bus:Director2 2024-12-01 2025-11-30 00528421 bus:Director3 2024-12-01 2025-11-30 00528421 bus:Director4 2024-12-01 2025-11-30 00528421 bus:Director5 2024-12-01 2025-11-30 00528421 bus:Director6 2024-12-01 2025-11-30 00528421 bus:Director7 2024-12-01 2025-11-30 00528421 bus:CompanySecretary1 2024-12-01 2025-11-30 00528421 bus:FullAccounts 2024-12-01 2025-11-30 xbrli:pure xbrli:shares iso4217:GBP