Proudstar Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02988055 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

PROUDSTAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Toumazos

Mrs M Toumazou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

02988055 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

-

Investment property

5

1,250,000

CURRENT ASSETS

Debtors

6

379,639

393,184

Cash at bank and in hand

9,643

4,928

389,282

398,112

CREDITORS

Amounts falling due within one year

7

55,711

45,735

NET CURRENT ASSETS

333,571

352,377

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,583,571

1,602,377

CREDITORS

Amounts falling due after more than one
year

8

(631,250

)

(648,129

)

PROVISIONS FOR LIABILITIES

10

(100,823

)

(100,823

)

NET ASSETS

851,498

853,425

CAPITAL AND RESERVES

Called up share capital

11

100

Fair value reserve

12

779,449

Retained earnings

71,949

73,876

SHAREHOLDERS' FUNDS

851,498

853,425

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

Mrs M Toumazou - Director

1.	STATUTORY INFORMATION

Proudstar 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 amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2023

and 30 November 2024

5,661

DEPRECIATION

At 1 December 2023

and 30 November 2024

5,661

NET BOOK VALUE

At 30 November 2024

-

At 30 November 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

and 30 November 2024

1,250,000

NET BOOK VALUE

At 30 November 2024

1,250,000

At 30 November 2023

1,250,000

Fair value at 30 November 2024 is represented by:

£

Valuation in 2012

630,272

Valuation in 2015

100,000

Valuation in 2017

150,000

Cost

369,728

1,250,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

Amounts due from related party

379,639

393,184

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

Bank loans and overdrafts (see note 9)

13,586

7,500

Tax

17,253

25,999

Other creditors

10,000

Directors' current accounts

12,871

239

Accrued expenses

2,001

1,997

55,711

45,735

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.24

30.11.23

£

Bank loans (see note 9)

631,250

648,129

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

601,250

608,750

9.

LOANS

An analysis of the maturity of loans is given below:

30.11.24

30.11.23

£

Amounts falling due within one year or on demand:

Bank loans

13,586

7,500

Amounts falling due between one and two years:

Bank loans - 1-2 years

7,500

Amounts falling due between two and five years:

Bank loans - 2-5 years

22,500

31,879

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

601,250

608,750

10.	PROVISIONS FOR LIABILITIES

30.11.24

30.11.23

£

Deferred tax

100,823

Deferred

tax

£

Balance at 1 December 2023

100,823

Balance at 30 November 2024

100,823

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.24

30.11.23

value:

£

100

Ordinary Shares

£1

100

12.

RESERVES

Fair

value

reserve

£

At 1 December 2023

and 30 November 2024

779,449