Starhomes Builders Investments Limited Filleted accounts for Companies House (small and micro)

Starhomes Builders Investments Limited Filleted accounts for Companies House (small and micro)

STARHOMES BUILDERS INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08067231
Starhomes Builders Investments Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2022
Starhomes Builders Investments Limited
Financial Statements
Year ended 30 September 2022
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Starhomes Builders Investments Limited
Statement of Financial Position
30 September 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
5
2,506,100
2,506,158
Current assets
Debtors
6
16,884
16,887
Cash at bank and in hand
131,642
158,856
---------
---------
148,526
175,743
Creditors: amounts falling due within one year
7
31,373
40,421
---------
---------
Net current assets
117,153
135,322
------------
------------
Total assets less current liabilities
2,623,253
2,641,480
Provisions
Taxation including deferred tax
8
133,378
133,389
------------
------------
Net assets
2,489,875
2,508,091
------------
------------
Capital and reserves
Called up share capital
2,554
2,554
Share premium account
1,797,731
1,797,731
Revaluation reserve
605,678
605,678
Profit and loss account
83,912
102,128
------------
------------
Shareholders funds
2,489,875
2,508,091
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The 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 Act with respect to accounting records and the preparation of financial statements .
Starhomes Builders Investments Limited
Statement of Financial Position (continued)
30 September 2022
These financial statements were approved by the board of directors and authorised for issue on 27 June 2023 , and are signed on behalf of the board by:
K P Clark
Director
Company registration number: 08067231
Starhomes Builders Investments Limited
Notes to the Financial Statements
Year ended 30 September 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 The Barns, Mill Road, Buckden, St Neots, Cambridgeshire, PE19 5XX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss . The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Unrealised changes to the fair value of the investment property together with the related deferred taxation are transferred from the profit and loss reserve to the revaluation reserve.
Turnover
The turnover shown in the statement of comprehensive income represents rents receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets, other than investment properties, are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Motor vehicles
-
15% straight line
Office equipment
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).
5. Tangible assets
Investment properties
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost or valuation
At 1 October 2021 and 30 September 2022
2,505,950
305
229
2,506,484
------------
----
----
------------
Depreciation
At 1 October 2021
–
305
21
326
Charge for the year
–
–
58
58
------------
----
----
------------
At 30 September 2022
–
305
79
384
------------
----
----
------------
Carrying amount
At 30 September 2022
2,505,950
–
150
2,506,100
------------
----
----
------------
At 30 September 2021
2,505,950
–
208
2,506,158
------------
----
----
------------
Tangible assets held at valuation
The directors have revalued the investment properties on the tenanted properties basis and consider them to be at their market value at the reporting date .
6. Debtors
2022
2021
£
£
Other debtors
16,884
16,887
--------
--------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
294
52
Social security and other taxes
11,887
22,149
Other creditors
19,192
18,220
--------
--------
31,373
40,421
--------
--------
8. Provisions
Deferred tax (note 9)
£
At 1 October 2021
133,389
Movement in year
( 11)
---------
At 30 September 2022
133,378
---------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2022
2021
£
£
Included in provisions (note 8)
133,378
133,389
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2022
2021
£
£
Accelerated capital allowances
29
40
Revaluation of tangible assets
133,349
133,349
---------
---------
133,378
133,389
---------
---------