ERAIH LIMITED
Company registration number 09303575 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
ERAIH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ERAIH LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
779
-
Investment properties
4
8,445,500
11,381,156
Investments
5
19,204,478
11,092,652
27,650,757
22,473,808
Current assets
Debtors
6
89,086
72,977
Cash at bank and in hand
1,865,010
3,736,241
1,954,096
3,809,218
Creditors: amounts falling due within one year
7
(232,821)
(414,030)
Net current assets
1,721,275
3,395,188
Total assets less current liabilities
29,372,032
25,868,996
Creditors: amounts falling due after more than one year
8
(28,885,000)
(28,885,000)
Provisions for liabilities
(105,717)
(183,769)
Net assets/(liabilities)
381,315
(3,199,773)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
381,215
(3,199,873)
Total equity
381,315
(3,199,773)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ERAIH LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 August 2022
Mr D A Pass
Director
Company Registration No. 09303575
ERAIH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information

ERAIH Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Home Close, 36 Edge Road, Matlock, Derbyshire, DE4 3NH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rents receivable and expenses recharged, net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Tangible fixed assets, other than investment properties, are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment
33 1/3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ERAIH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ERAIH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
687
Additions
1,038
Disposals
(687)
At 31 December 2021
1,038
Depreciation and impairment
At 1 January 2021
687
Depreciation charged in the year
259
Eliminated in respect of disposals
(687)
At 31 December 2021
259
Carrying amount
At 31 December 2021
779
At 31 December 2020
-
4
Investment property
2021
£
Fair value
At 1 January 2021
11,381,156
Disposals
(2,935,656)
At 31 December 2021
8,445,500

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2021
2020
£
£
Listed investments
19,204,478
11,092,652
Fixed asset investments revalued

Listed investments are stated at fair value. The historical cost of the investments at 31 December 2021 was £18,725,287(2020 - £13,023,164).

ERAIH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Listed investments
£
Cost or valuation
At 1 January 2021
11,092,652
Additions
6,659,455
Valuation changes
2,401,513
Disposals
(949,142)
At 31 December 2021
19,204,478
Carrying amount
At 31 December 2021
19,204,478
At 31 December 2020
11,092,652
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
12,749
30,835
Other debtors
27,122
15,669
39,871
46,504
2021
2020
Amounts falling due after more than one year:
£
£
Other debtors
49,215
26,473
Total debtors
89,086
72,977
7
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
-
35,572
Corporation tax
62,881
90,604
Other taxation and social security
21,565
130,126
Other creditors
148,375
157,728
232,821
414,030
ERAIH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
8
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
28,885,000
28,885,000
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