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Registration number: SC558054

EJM Property Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

EJM Property Holdings Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

EJM Property Holdings Ltd

(Registration number: SC558054)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

81,100

81,100

Current assets

 

Cash at bank and in hand

 

36

36

Creditors: Amounts falling due within one year

5

(62,038)

(61,167)

Net current liabilities

 

(62,002)

(61,131)

Net assets

 

19,098

19,969

Capital and reserves

 

Called up share capital

10

10

Retained earnings

19,088

19,959

Shareholders' funds

 

19,098

19,969

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.

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 

.........................................
E J Meaney
Director

 

EJM Property Holdings 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 Scotland.

The address of its registered office is:
Gardeners Cottage
Alderston
Haddington
United Kingdom
EH41 3SF

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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Investment property

Investment property is carried at fair value. The directors are of the opinion that the cost reflects the current market value and no valuation has been carried out by an independent valuer.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

EJM Property Holdings Ltd

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

3

Staff numbers

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

4

Investment properties

2023
£

At 1 February

81,100

At 31 January

81,100

The directors are of the opinion that the cost in the accounts reflects the current market value.

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

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

780

5,569

Inter company loan

59,828

54,168

Directors loan

1,430

1,430

62,038

61,167

6

Related party transactions

As at 31 January 2023 the company was due a loan of £59,828 (2022 - £54,168) to Coast Kitchens & Bathrooms Limited, a company in which Mr E Meaney and Mr J Meaney are directors.