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REGISTERED NUMBER: 09357934 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Erindale SC Limited

Erindale SC Limited (Registered number: 09357934)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Erindale SC Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R J Adil





SECRETARY: M Adil





REGISTERED OFFICE: 34-36 London Road
Wembley
Middlesex
HA9 7EX





REGISTERED NUMBER: 09357934 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Erindale SC Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Erindale SC Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Erindale SC Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Erindale SC Limited and state those matters that we have agreed to state to the director of Erindale SC Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Erindale SC Limited and its director for our work or for this report.

It is your duty to ensure that Erindale SC Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Erindale SC Limited. You consider that Erindale SC Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Erindale SC Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


20 October 2023

Erindale SC Limited (Registered number: 09357934)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 9,193,816 9,933,342

CURRENT ASSETS
Debtors 5 994,680 847,878
Cash at bank and in hand 555,155 216,661
1,549,835 1,064,539
CREDITORS
Amounts falling due within one year 6 3,670,556 3,556,666
NET CURRENT LIABILITIES (2,120,721 ) (2,492,127 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,073,095

7,441,215

CREDITORS
Amounts falling due after more than one
year

7

(4,350,526

)

(4,643,120

)

PROVISIONS FOR LIABILITIES (51,052 ) (306,398 )
NET ASSETS 2,671,517 2,491,697

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 1,422,483 1,306,223
Retained earnings 1,248,934 1,185,374
SHAREHOLDERS' FUNDS 2,671,517 2,491,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by:





R J Adil - Director


Erindale SC Limited (Registered number: 09357934)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Erindale SC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover comprises rents received by the company during the year.

Turnover is recognised in the period the rent relates to.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 9,933,342
Disposals (739,526 )
At 31 March 2023 9,193,816
NET BOOK VALUE
At 31 March 2023 9,193,816
At 31 March 2022 9,933,342

Erindale SC Limited (Registered number: 09357934)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 783,308 636,505
Other debtors 211,372 211,373
994,680 847,878

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 176,919 174,983
Trade creditors 77,500 39,048
Taxation and social security 182,872 104,705
Other creditors 3,233,265 3,237,930
3,670,556 3,556,666

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,350,526 4,643,120

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,570,757 3,346,903

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,527,445 4,818,103

Bank loans are secured by way of fixed charges over the investment properties of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022 1,306,223
Movement 116,260

At 31 March 2023 1,422,483

Erindale SC Limited (Registered number: 09357934)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. RELATED PARTY DISCLOSURES

Included within other creditors due in less than one year are loan amounts of £2,876,820 (2022: £2,876,820) due to companies under common control. The loans have arisen from intercompany funding in the current and previous years. The loans are unsecured, free of interest and repayable on demand.

Included within other creditors due in less than one year is a loan amount of £212,446 (2022: £212,446) due to a company in which the controlling party of Erindale SC Limited holds a minority shareholding and is an immediate family member of the controlling party. The loan has arisen from intercompany funding in the current and previous years. The loan is unsecured, free of interest and repayable on demand.

Included within other debtors due in less than one year are loan amounts of £211,372 (2022: £211,372) due from other companies under common control. The loans have arisen from intercompany funding in the current and previous years. The loans are unsecured, free of interest and repayable on demand.

Included within turnover are rent and service charge income of £705,965 (2022: £598,170) charged to companies under common control. Amounts included within trade debtors in respect of this turnover is £781,507 (2022: £634,705).