Registration number:
Starmed Properties Ltd
for the Period from 16 November 2021 to 30 November 2022
Starmed Properties Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Starmed Properties Ltd
Company Information
Director |
Mr O V Staicu |
Registered office |
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Accountants |
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Starmed Properties Ltd
(Registration number: 13745582)
Balance Sheet as at 30 November 2022
Note |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
50 |
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Retained earnings |
(6,266) |
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Shareholders' deficit |
(6,216) |
For the financial period ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Starmed Properties Ltd
(Registration number: 13745582)
Balance Sheet as at 30 November 2022
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Starmed Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 30 November 2022
Accounting policies |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and Fittings |
- 25% reducing balance |
Investment property
Starmed Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 30 November 2022
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Starmed Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 30 November 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 November 2022 |
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Depreciation |
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Charge for the period |
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At 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
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Investment properties |
2022 |
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Additions |
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At 30 November |
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There has been no valuation of investment property by an independent valuer.
Debtors |
Current |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Starmed Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 30 November 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2022 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2022 |
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No. |
£ |
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25 |
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25 |
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Loans and borrowings |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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2022 |
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Current loans and borrowings |
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Bank borrowings |
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Starmed Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 30 November 2022
Related party transactions |
Transactions with the director |
2022 |
At 16 November 2021 |
Repayments by director |
At 30 November 2022 |
Mr O V Staicu |
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No interest is charged on the loan and there is no fixed date of repayment. |
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