5 Star Properties & Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04172426 (England and Wales)

5 STAR PROPERTIES & INVESTMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

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

868,317

868,547

CURRENT ASSETS

Debtors

5

2,750

1,620

Cash at bank and in hand

4,460

6,369

7,210

7,989

CREDITORS

Amounts falling due within one year

6

524,408

514,263

NET CURRENT LIABILITIES

(517,198

)

(506,274

)

TOTAL ASSETS LESS CURRENT LIABILITIES

351,119

362,273

CREDITORS

Amounts falling due after more than one year

7

197,880

203,893

NET ASSETS

153,239

158,380

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

8

116,005

116,005

Retained earnings

37,230

42,371

SHAREHOLDERS' FUNDS

153,239

158,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 9 August 2023 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 (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

Fixture &

Computer

property

Fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 May 2022

and 30 April 2023

867,625

19,183

2,816

889,624

DEPRECIATION

At 1 May 2022

-

18,261

2,816

21,077

Charge for year

-

230

-

230

At 30 April 2023

-

18,491

2,816

21,307

NET BOOK VALUE

At 30 April 2023

867,625

692

-

868,317

At 30 April 2022

867,625

922

-

868,547

Cost or valuation at 30 April 2023 is represented by:

Freehold

Fixture &

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:

2023

2022

£

£

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

2023

2022

£

£

Trade debtors

2,750

1,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

16,540

11,000

Corporation Tax

239

-

Sundry creditors

23,011

20,011

Deposits in hand

2,295

2,295

Directors' current accounts

401,924

388,858

Accrued expenses

80,399

92,099

524,408

514,263

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans more 5 yr by instal

197,880

203,893

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

197,880

203,893

8.

RESERVES

Revaluation

reserve

£

At 1 May 2022

and 30 April 2023

116,005