Star Hill Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07802779 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

STAR HILL PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Brownlow

B J Pain

REGISTERED OFFICE:

37 Star HIll

Rochester

Kent

ME1 1XF

REGISTERED NUMBER:

07802779 (England and Wales)

ACCOUNTANTS:

Williams Giles Limited

Chartered Accountants

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

FIXED ASSETS

Tangible assets

3

-

9,591

Investment property

4

1,050,000

950,000

1,050,000

959,591

CURRENT ASSETS

Debtors

5

41,155

139,194

Cash at bank

14,683

4,158

55,838

143,352

CREDITORS

Amounts falling due within one year

6

47,638

72,796

NET CURRENT ASSETS

8,200

70,556

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,058,200

1,030,147

CREDITORS

Amounts falling due after more than one
year

7

(601,444

)

(724,878

)

PROVISIONS FOR LIABILITIES

(43,157

)

(29,496

)

NET ASSETS

413,599

275,773

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

9

297,636

197,636

Retained earnings

115,863

78,037

SHAREHOLDERS' FUNDS

413,599

275,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 27 March 2018 and were signed on its behalf by:

B J Pain - Director

A Brownlow - Director

1.	STATUTORY INFORMATION

Star Hill 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Plant and machinery etc

-

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 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 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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

and 30 June 2017

61,310

DEPRECIATION

At 1 July 2016

51,719

Charge for year

9,591

At 30 June 2017

61,310

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

9,591

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

950,000

Revaluations

100,000

At 30 June 2017

1,050,000

NET BOOK VALUE

At 30 June 2017

1,050,000

At 30 June 2016

950,000

The above investment property was revalued by the Directors in 2015 on an open market value for existing use

basis. Subsequent to this, a professional valuation was carried out by Savills on 6 June 2017 and the value in the

accounts has been amended to reflect this revaluation.

Fair value at 30 June 2017 is represented by:

£

Valuation in 2014

720,541

Valuation in 2015

229,459

Valuation in 2017

100,000

1,050,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

41,055

-

Other debtors

100

139,194

41,155

139,194

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

-

12,549

Taxation and social security

21,756

23,857

Other creditors

25,882

36,390

47,638

72,796

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

£

Amounts owed to group undertakings

601,444

724,878

8.	SECURED DEBTS

On 2nd October 2015, The Royal Bank of Scotland Plc raised a fixed charge for the legal mortgage for 1 New

Road, Rochester.

Furthermore, a fixed and floating charge were also raised over the property by The Royal Bank of Scotland Plc

on the 17th September 2015.

9.

RESERVES

Revaluation

reserve

£

At 1 July 2016

197,636

Revaluation in year

100,000

At 30 June 2017

297,636

10.	RELATED PARTY DISCLOSURES

Artysea Limited

A group company

During the year a loan existed between the parties which has been included in creditors due after 1 year.

2017

2016

£

Amount due to related party at the balance sheet date

601,444

724,878

11.	POST BALANCE SHEET EVENTS

Following the year end, the investment property was sold to Artysea Limited (a company under common control)

for £1,050,000.

12.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS102. The last financial

statements prepared under previous UK GAAP were for the year ended 30 June 2016 and the date of transition

to FRS102 was therefore 1 July 2015. As a consequence of adopting FRS102 a small number of accounting

policies have changed to comply with those standards.

As a result of the adoption of FRS102 adjustments have been made reflecting the fair value of property and the

deferred tax thereon.

Star Hill Properties Limited - Accounts to registrar (filleted) - small 17.3

Star Hill Properties Limited - Accounts to registrar (filleted) - small 17.3