Registered number: 09972337 | ||||||||
FOR THE YEAR ENDED 31/01/2022 | ||||||||
Prepared By: | ||||||||
Somersby Consulting Limited | ||||||||
Accountants and Tax Advisors | ||||||||
Unit 2 Sherbrook Enterprise | ||||||||
100 Sherbrook Road | ||||||||
Daybrook | ||||||||
Nottingham | ||||||||
NG5 6AB |
Elate Rose Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2022 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Nottingham | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 09972337 | ||||||||
ACCOUNTANTS | ||||||||
Somersby Consulting Limited | ||||||||
Accountants and Tax Advisors | ||||||||
Unit 2 Sherbrook Enterprise | ||||||||
100 Sherbrook Road | ||||||||
Daybrook | ||||||||
Nottingham | ||||||||
NG5 6AB |
Elate Rose Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/01/2022 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 |
Elate Rose Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2022 | 2021 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
17,712 | 19,952 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (355,495) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | |||||||||
Profit and loss account | 117,006 | 94,949 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Elate Rose Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/01/2022 | ||||||||||
1. ACCOUNTING POLICIES |
1a. General Information | ||||||||
Elate Rose Limited is a private company, limited by shares and registered in England and Wales. The registered office address is stated on page 1 of these accounts. The company's principle activity is that of the rental of property. |
1b. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention except that as disclosed in the accounting policies certain items shown at fair value. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
The financial statements are presented in Sterling (£). |
1c. Depreciation | ||||||||
Equipment | straight line33.3% |
1d. Investment Properties | ||||||||
Investment properties are included in the financial statements at fair value, derived from the current market prices and comparable real estate determined annually. Gains are recognised in the statement of comprehensive income through other operating income. | ||||||||
Deferred taxation is provided on these at the rate expected to apply when the property is sold. |
1e. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Elate Rose Limited | ||||||||
1f. 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. |
2. EMPLOYEES | ||||||
2022 | 2021 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
3. TANGIBLE FIXED ASSETS | ||||
Equipment | Total | |||
£ | £ | |||
Cost | ||||
Additions | 899 | 899 | ||
At 31/01/2022 | 899 | 899 | ||
Depreciation | ||||
For the year | 50 | 50 | ||
At 31/01/2022 | 50 | 50 | ||
Net Book Amounts | ||||
At 31/01/2022 | 849 | |||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/02/2021 | 450,544 | 450,544 | ||||||
Revaluation | 24,456 | 24,456 | ||||||
At 31/01/2022 | 475,000 | 475,000 | ||||||
Tangible fixed assets included at valuation would have been included on an historical cost basis at £450,544 (2021: £450,544). The investment properties are revalued annually by the directors on an open market value basis, and consider themselves able to do so given their expertise and knowledge of the investment property market. | ||||||||
Elate Rose Limited | ||||||||
5. DEBTORS | 2022 | 2021 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 906 | - | ||||||
906 | - | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
UK corporation tax | 1,242 | 1,770 | ||||||
Directors current account | 353,933 | 356,020 | ||||||
Other creditors | 600 | 600 | ||||||
Accruals | 15,871 | 17,057 | ||||||
371,646 | 375,447 | |||||||
7. SHARE CAPITAL | 2022 | 2021 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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