5 Star Properties & Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04172426 (England and Wales)

5 STAR PROPERTIES & INVESTMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Clarke

G P Clarke

SECRETARY:

G P Clarke

REGISTERED OFFICE:

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

REGISTERED NUMBER:

04172426 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

King Arthur’s Court

Maidstone Road

Charing

Kent

TN27 0JS

FIXED ASSETS

Tangible assets

4

869,264

869,810

CURRENT ASSETS

Debtors

5

950

950

Cash at bank and in hand

133

42,091

1,083

43,041

CREDITORS

Amounts falling due within one year

6

461,746

495,069

NET CURRENT LIABILITIES

(460,663

)

(452,028

)

TOTAL ASSETS LESS CURRENT LIABILITIES

408,601

417,782

CREDITORS

Amounts falling due after more than one year

7

260,897

260,897

NET ASSETS

147,704

156,885

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

8

116,005

116,005

Retained earnings

31,695

40,876

SHAREHOLDERS' FUNDS

147,704

156,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 July 2020 and were signed on its behalf by:

G P Clarke - Director

1.	STATUTORY INFORMATION

5 Star Properties & Investments 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 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.

Land and buildings

-

nil

Plant and machinery etc

-

25% on reducing balance

Revaluation of tangible fixed assets

As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April

2008) the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain

the book value of land and buildings, previously revalued at 1 May 2004 and will not update this valuation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 May 2019

and 30 April 2020

867,625

19,183

2,816

889,624

DEPRECIATION

At 1 May 2019

-

16,998

2,816

19,814

Charge for year

-

546

-

546

At 30 April 2020

-

17,544

2,816

20,360

NET BOOK VALUE

At 30 April 2020

867,625

1,639

-

869,264

At 30 April 2019

867,625

2,185

-

869,810

Cost or valuation at 30 April 2020 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Valuation in 2004

140,402

-

-

140,402

Cost

727,223

19,183

2,816

749,222

867,625

19,183

2,816

889,624

If the land and buildings had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

807,224

807,224

The UK freehold properties were valued on an open market basis on 1 May 2004 by Pearson Gore Limited, Chartered Surveyors

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

950

950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

23,479

22,579

Trade creditors

197

194

Sundry creditors

20,011

35,373

Deposits in hand

3,045

3,045

Directors' current accounts

335,454

353,659

Accrued expenses

79,560

80,219

461,746

495,069

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

90,317

90,317

Bank loans more 5 yr by instal

170,580

170,580

260,897

260,897

2020

2019

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

170,580

170,580

8.

RESERVES

Revaluation

reserve

£

At 1 May 2019

and 30 April 2020

116,005