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REGISTERED NUMBER: 05665340 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ELEIKO (UK) LIMITED

ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investments 5 1,473,779 1,473,779

CURRENT ASSETS
Debtors 6 282 -
Cash at bank 1,222 910
1,504 910
CREDITORS
Amounts falling due within one year 7 1,305,959 603,353
NET CURRENT LIABILITIES (1,304,455 ) (602,443 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,324

871,336

CREDITORS
Amounts falling due after more than one
year

8

-

731,469
NET ASSETS 169,324 139,867

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 169,224 139,767
SHAREHOLDERS' FUNDS 169,324 139,867

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 30 August 2022 and were signed on its behalf by:





Y M Osman - Director


ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Eleiko (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05665340

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Eleiko (UK) Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Charing Holdings Limited, 368 Forest Road, London, E17 5JF.

Investments in subsidiaries
Investments in subsidiaries are stated in the balance sheet at cost, less any subsequent accumulated impairment losses.

The cost of investments in subsidiaries includes directly attributable incremental costs incurred in their acquisition.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.


ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company continues with the support of Charing Care Limited (a connected undertaking) the details of which are more fully explained in Related Party Disclosures.

Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. AUDITORS' REMUNERATION
2021 2020
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

1,080

960

ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 1,473,779
NET BOOK VALUE
At 31 December 2021 1,473,779
At 31 December 2020 1,473,779

The Company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Charing Way Limited
Registered office: 368 Forest Road, London, E17 5JF
Nature of business: Residential care home
%
Class of shares: holding
Ordinary 100.00
2021 2020
£    £   
Aggregate capital and reserves 1,094,139 1,031,550
Profit for the year 114,649 69,228

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 282 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 9) 782,258 80,761
Amounts owed to group undertakings 90,000 -
Amounts owed to connected undertakings 430,000 520,000
Other creditors 3,701 2,592
1,305,959 603,353

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans (see note 9) - 731,469

ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 782,258 80,761

Amounts falling due between one and two years:
Bank loans - 1-2 years - 731,469

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 782,258 812,230

The bank loan is secured by way of a fixed and floating charge over all assets of the company and a cross guarantee and debenture with Charing Way Limited.

The bank loan is repayable over the period until 2022. The rate of interest payable on the debt is 2.60% per annum over the Bank Base Rate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 January 2021 139,767
Profit for the year 29,457
At 31 December 2021 169,224

ELEIKO (UK) LIMITED (REGISTERED NUMBER: 05665340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou

14. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2021 2020
£    £   
Amounts owed by/ (to) Group Undertakings (90,000 ) -
Amounts owed by/ (to) Connected Undertakings (430,000 ) (520,000 )


As at balance sheet date, the company owed £430,000 to Charing Care Limited (a connected undertaking) which has agreed not to seek repayment of this debt at any time should it be deemed by the company to restrict its ability to meet its day to day working capital requirements or be to the detriment of any other creditors of the company.

All transactions were made on normal commercial terms.

Related Party Relationship:

Group Undertakings
Charing Holdings Limited

Connected Undertakings
Charing Care Limited

Connected Undertakings
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

15. POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.

16. CONTROLLING PARTY

The immediate and ultimate parent undertaking is Charing Holdings Limited. The registered office of Charing
Holdings Limited is 368 Forest Road, London, E17 5JF.