EG Buildings Ltd 12418603 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is ownership and letting of property. Digita Accounts Production Advanced 6.30.9574.0 true true 12418603 2022-02-01 2023-01-31 12418603 2023-01-31 12418603 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2023-01-31 12418603 core:CurrentFinancialInstruments 2023-01-31 12418603 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12418603 core:Non-currentFinancialInstruments 2023-01-31 12418603 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 12418603 core:FurnitureFittingsToolsEquipment 2023-01-31 12418603 bus:SmallEntities 2022-02-01 2023-01-31 12418603 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12418603 bus:FullAccounts 2022-02-01 2023-01-31 12418603 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12418603 bus:RegisteredOffice 2022-02-01 2023-01-31 12418603 bus:Director1 2022-02-01 2023-01-31 12418603 bus:Director2 2022-02-01 2023-01-31 12418603 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2022-02-01 2023-01-31 12418603 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12418603 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 12418603 countries:AllCountries 2022-02-01 2023-01-31 12418603 2022-01-31 12418603 core:FurnitureFittingsToolsEquipment 2022-01-31 12418603 2021-02-01 2022-01-31 12418603 2022-01-31 12418603 bus:OrdinaryShareClass1 bus:Non-cumulativeRedeemableShares 2022-01-31 12418603 core:CurrentFinancialInstruments 2022-01-31 12418603 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 12418603 core:Non-currentFinancialInstruments 2022-01-31 12418603 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 12418603 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12418603

EG Buildings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

EG Buildings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

EG Buildings Ltd

Company Information

Directors

Richard Gowan

Andrew Exelby

Registered office

10 Carrallack Terrace
St Just
Penzance
Cornwall
TR19 7LW

Accountants

Julia Evans Accountants Ltd
Waterside House
Falmouth Road
Penryn
Cornwall
TR10 8BE

 

EG Buildings Ltd

(Registration number: 12418603)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

948

1,264

Investment property

5

265,000

265,000

 

265,948

266,264

Current assets

 

Debtors

6

345

648

Cash at bank and in hand

 

528

46

 

873

694

Creditors: Amounts falling due within one year

7

(134,357)

(136,384)

Net current liabilities

 

(133,484)

(135,690)

Total assets less current liabilities

 

132,464

130,574

Creditors: Amounts falling due after more than one year

7

(127,459)

(132,831)

Net assets/(liabilities)

 

5,005

(2,257)

Capital and reserves

 

Called up share capital

8

2

2

Other reserves

-

4,410

Retained earnings

5,003

(6,669)

Shareholders' funds/(deficit)

 

5,005

(2,257)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

 

EG Buildings Ltd

(Registration number: 12418603)
Balance Sheet as at 31 January 2023

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

.........................................
Richard Gowan
Director

 

EG Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Carrallack Terrace
St Just
Penzance
Cornwall
TR19 7LW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. and the directors have agreed to continue to support the business for a minimum of 12 months from the date the accounts are approved.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of units within the property in the ordinary course of the company’s activities. Turnover is shown net of 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

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

EG Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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.

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

Furniture, fittings & equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

EG Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

1,685

1,685

At 31 January 2023

1,685

1,685

Depreciation

At 1 February 2022

421

421

Charge for the year

316

316

At 31 January 2023

737

737

Carrying amount

At 31 January 2023

948

948

At 31 January 2022

1,264

1,264

5

Investment properties

2023
£

At 1 February

265,000

At 31 January

265,000

The property has been valued by the Directors with reference to the rental yield of the building.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

2022
£

Trade debtors

123

-

Other debtors

222

648

 

345

648

 

EG Buildings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

5,370

5,156

Amounts owed to group undertakings and undertakings in which the company has a participating interest

56,294

58,294

Accruals and deferred income

 

1,995

2,235

Other creditors

 

70,698

70,699

 

134,357

136,384

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

127,459

132,831

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.02 each

100

2

100

2

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

127,459

132,831

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,370

5,156