Starfine Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10989962 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

STARFINE PROPERTIES LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E Endzweig

REGISTERED OFFICE:

123 Clapton Common

C/O Midos

E5 9AB

REGISTERED NUMBER:

10989962 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

3,213

-

Investment property

6

857,507

857,507

860,720

857,507

CURRENT ASSETS

Cash at bank

664,214

-

CREDITORS

Amounts falling due within one year

868,219

862,910

NET CURRENT LIABILITIES

(204,005

)

(862,910

)

TOTAL ASSETS LESS CURRENT LIABILITIES

656,715

(5,403

)

CREDITORS

Amounts falling due after more than one year

7

647,063

-

NET ASSETS/(LIABILITIES)

9,652

(5,403

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

9,651

(5,404

)

SHAREHOLDERS' FUNDS

9,652

(5,403

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 23 July 2020 and were signed by:

Mrs E Endzweig - Director

1.	STATUTORY INFORMATION

Starfine Properties 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 (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax 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.

Fixtures and fittings

-

15% 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

3,780

At 31 October 2019

3,780

DEPRECIATION

Charge for year

567

At 31 October 2019

567

NET BOOK VALUE

At 31 October 2019

3,213

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

and 31 October 2019

857,507

NET BOOK VALUE

At 31 October 2019

857,507

At 31 October 2018

857,507

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.10.19

31.10.18

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

647,063

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.19

31.10.18

£

£

Bank loans

647,063

-

Bank loan is secured by first charge over the investment property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.19

31.10.18

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 November 2018

(5,404

)

Profit for the year

15,055

At 31 October 2019

9,651