Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-302023-01-3012022-01-31falseThe principal activity of the Company was that of the development of building projects.1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12433055 2022-01-31 2023-01-30 12433055 2021-01-31 2022-01-30 12433055 2023-01-30 12433055 2022-01-30 12433055 c:Director1 2022-01-31 2023-01-30 12433055 d:FreeholdInvestmentProperty 2023-01-30 12433055 d:FreeholdInvestmentProperty 2022-01-30 12433055 d:CurrentFinancialInstruments 2023-01-30 12433055 d:CurrentFinancialInstruments 2022-01-30 12433055 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-30 12433055 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-30 12433055 d:ShareCapital 2023-01-30 12433055 d:ShareCapital 2022-01-30 12433055 d:SharePremium 2023-01-30 12433055 d:SharePremium 2022-01-30 12433055 d:RetainedEarningsAccumulatedLosses 2023-01-30 12433055 d:RetainedEarningsAccumulatedLosses 2022-01-30 12433055 c:FRS102 2022-01-31 2023-01-30 12433055 c:AuditExempt-NoAccountantsReport 2022-01-31 2023-01-30 12433055 c:FullAccounts 2022-01-31 2023-01-30 12433055 c:PrivateLimitedCompanyLtd 2022-01-31 2023-01-30 iso4217:GBP xbrli:pure

Registered number: 12433055










EPILEUM PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JANUARY 2023

 
EPILEUM PROPERTY LIMITED
REGISTERED NUMBER: 12433055

BALANCE SHEET
AS AT 30 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
30,460,672
30,460,672

  
30,460,672
30,460,672

Current assets
  

Debtors: amounts falling due within one year
 5 
4,617
3,389

Cash at bank and in hand
  
98,056
3,723

  
102,673
7,112

Creditors: amounts falling due within one year
 6 
(206,110)
(61,990)

Net current liabilities
  
 
 
(103,437)
 
 
(54,878)

Total assets less current liabilities
  
30,357,235
30,405,794

  

Net assets
  
30,357,235
30,405,794


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Share premium account
  
30,317,981
30,317,981

Profit and loss account
  
(60,746)
(12,187)

  
30,357,235
30,405,794


Page 1

 
EPILEUM PROPERTY LIMITED
REGISTERED NUMBER: 12433055
    
BALANCE SHEET (CONTINUED)
AS AT 30 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J Sanghani
Director

Date: 18 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
EPILEUM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2023

1.


General information

Epileum Property Limited is a private company, limited by shares, domiciled in England and Wales, registration number 12433055. The registered office is 11 Merus Court, Meridian Business Park, Leicester, Leicestershire, LE19 1RJ.
Principal activity
The principal activity of the Company was that of property development.

2.Accounting policies

 
2.1

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 Company's functional and presentational currency is British Pound Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is supported by the shareholder and director, who will continue to support the Company for the foreseeable future. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
EPILEUM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
EPILEUM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 31 January 2022
30,460,672



At 30 January 2023
30,460,672

The 2023 valuations were made by the director, on an open market value for existing use basis.








5.


Debtors

2023
2022
£
£


Other debtors
1,442
214

Tax recoverable
3,175
3,175

4,617
3,389



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,520
-

Amounts owed to group undertakings
162,994
21,394

Other creditors
38,796
38,796

Accruals and deferred income
1,800
1,800

206,110
61,990


Page 5

 
EPILEUM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2023

7.


Ultimate parent undertaking

The ultimate parent undertaking of the Company is Anchelle Investments Limited. The registered office and principal place of business of Anchelle Investments Limited is 28 Irish Town, Gibraltar, GX11 1AA.
The Company is the subsidiary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.

 
Page 6