NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Elli Investments Limited (the Company) is a private company limited by shares, incorporated and domiciled in England. The address of its registered office is Units 1-2 Malmesbury Road, Kingsditch Trading Estate, Cheltenham, Gloucestershire GL51 9PL, which is also the address of its principal place of business.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company is dependent on the financial support of a subsidiary undertaking. Having made appropriate enquiries, the directors have a reasonable expectation that the subsidiary undertaking will continue to provide the financial support to enable the company to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.
|
|
Exemption from preparing consolidated financial statements
|
The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
Turnover comprises revenue recognised by the company in respect of rents on a receivable basis.
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.
Investments in subsidiaries are measured at cost less accumulated impairment.
|